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The presentation gives an overview of the history of Russian business education as its development is essentially path dependent, and outlines the trends of its future progress. Shifts in market demand and quality issues require thoughtful consideration of the likely foundations of business education in the future that will determine a business school’s path in relation to its mission and its teaching, as well as the internal mechanisms that need to be in place to accomplish the mission. The best Russian business schools have a clear vision, they have acquired the proficiency and knowledge necessary to ensure successful development in the future. They strive to be internationally recognised and to operate in a global market. Significant synergies will be gained from cooperation with world-class business schools.