The study aims to examine the gaps between the competencies of business graduates and the expectations of employers and academic institutions in developing countries at the tertiary level of education, using SERVQUAL model. Data were collected through an online survey from Bangladeshi business graduates, faculty members, and employers, and analyzed using SPSS for descriptive statistics, gap analysis, and hypothesis testing. Results reveal significant discrepancies in instrumental, interpersonal, and professional competencies—employers rated expectations higher than graduates’ self-assessments, while faculty members viewed graduates more positively than employers did. The study highlights the necessity of strengthening the alignment between academic preparation and industry expectations to enhance graduates’ employability. It also provides a comprehensive framework that incorporates the perspectives of the three key stakeholders and offers empirical insights from a developing country context, providing valuable guidance for refining business education programs and addressing skill mismatches in emerging labor markets.
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