Advances in information technology have introduced fundamental changes in business structures and work processes. These changes demand the development of new educational approaches that integrate the thinking of business and teacher education as a foundation for building teachers' skills to prepare their students for life and work in these organizations. This paper consists of four sections: (1) the 21st century teacher competencies that relate to people skills of negotiating, networking, creating, and sustaining both short- and long-term working relationships across cultures and functions, and task skills of designing group technology-based projects, data-driven analyses and problem solving, and keeping current skills in ways of thinking, learning, and dealing with change, copious amounts of data, and new technologies; (2) instructional best practices that foster group work, decision-making, project learning, and appropriate technology; (3) the changes needed in university infrastructures to enable teacher education to implement new instructional practices (i.e., adjusting internal load/rewards to promote faculty collaboration, specialized independent work units, university/school/business partnerships, and outcome-oriented evaluation criteria); and (4) components of teacher education programs that prepare teachers for the realities of life in the 21st century. (Contains 19 suggested readings.) (Author/SM)