In a society based on knowledge, universities should correspond to the future needs of social and economic environment of the country. The environment in which the university graduates will get a job is continuously changing, therefore is necessary to make an effort in order to estimate and adjust the study programs offered by universities. A fresh engineer should get the necessary theoretical and practical knowledge for conducting a technological process and, in the some moment, should have enough managerial knowledge. Discussions with managers show that it is very important that a manager is developed in a universal manner. Professionals appreciate a lot programs that develop skills for teamwork and effective communication, analytical skills and knowledge, decision making skills and solution provision in wide range of managerial activities corresponding to business environment. Nowadays an engineer should be educated through a combination of engineering and managerial competencies. All educational plans and university study programs should be developed considering the social and economic requirement for the above mentioned competencies. Competencies that reside from entrepreneurial education become very important in a society based on private property. Such questions as,What is the content of courses that contributes to such an education? What is the best manner of lecturing such disciplines?" are actual even today in the academic environment. It is necessary to rethink all educational plans and study programs at all university levels. In order to perform these tasks it is necessary to explore the social and economic environment. The manner of lecturing should be made more active and energetic by modem approaches; the method of lecturing professor-student should be avoided. The students should be exposed to business case studies and motivated to find solutions to the problems that may occur in business practice. The study programs for technical students should be focused toward entrepreneurial innovations. The studies should be oriented towards a managerial career. The program designed in the proposed manner will prepare an engineer empowered with abilities for solving a range of problems related to management, marketing, organizational behavior, communication and efficient negotiation, etc.