The global techno-economic paradigm is changing at a pace that defies easy plotting. The Information Super Highway with Internet as its backbone is integrating the global economy and creating a Global Village. Connectivity and access to vast array of resources make the Internet an unprecedented opportunity and a powerful force driving the new Digital Economy. The digital economy implies fundamental changes in the way business is organized and conducted in every functional area. In the new context both educational processes and content, and business process are being simultaneously transformed by information and communication technologies. Closer integration of human intellectual capital and digital technological processes is creating new knowledge ecology for business education. Intensity of knowledge application in products and processes is creating new intelligent space that offers abundant opportunities for innovation and entrepreneurship.