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Effective Management of the Tripartite Relationship of Educational Providers, Participants and Employers in Work Based LearningAn increasing concern amongst many graduate employers has been the perceived poor quality of graduates entering employment. Some of the most common employer criticisms include a lack of commercial awareness, unrealistic work expectations and poor work readiness (Confederation of British Industry (CBI) 2011; Chartered Association of Business Schools (CABS) 2014). Moreover, many of the skills shortages observed amongst undergraduate students, appear to be equally common amongst postgraduate students, particularly given the forecast that one in seven jobs will require a postgraduate qualifcation by 2022 (Wilson and Homenidou 2012). The inference here is that the UK is likely to face a significant graduate and postgraduate skills gap by 2022 unless corrective action is taken. Growing concerns about business graduate skills are likely to force many universities to re-examine and reconfigure the content of, and their approach to, business education. This chapter focuses on the increasingly problematic and challenging postgraduate marketplace where universities not only face criticism regarding the skills levels of their graduates but where they also have to work hard to attract the most talented students and graduates. Here universities are not only competing against each other, but increasingly face a growing challenge from a range of private sector providers and employer-led graduate schemes. To gain a better understanding of if and how postgraduate provision is evolving to meet the needs of employers in the twenty-first century, we have adopted a ‘360 degree’, tripartite perspective of the postgraduate marketplace, exploring the interaction between the key players—students, employers and universities/educational institutions. Arguably, it is only when all three perspectives are brought together and understood fully, that it is possible to construct a sustainable postgraduate strategy and effectively locate learning in the workplace (Boud and Solomon 2001; Raelin 1997). In addition, this chapter examines the experiences and challenges of developing and managing an innovative 12 month intensive work based Masters programme (the Chester Business Master’s—CBM), which is located in the University’s Centre for Work-Related Studies (CWRS) and draws heavily on the core principles of reflective learning based around a negotiated learning contract. Here the strengths and weaknesses of the programme are examined through the ‘tripartite lens’ of the students, employer and university perspectives. The structure and key features of the Chester Business Master’s (CBM) are explored in more detail in a longitudinal case study presented later in this chapter.