This chapter focuses on language and communication training as part of business education of the twenty-first-century managers who need to be highly competitive in the job market. The authors take a closer look at the major stakeholders—multinational corporations (MNCs)—and offer a brief analysis of business communication problems having a direct impact on business development and often leading to a number of negative consequences. A critical overview of a wide range of strategies and solutions frequently employed by MNCs is followed by discussion of their advantages and disadvantages discussion. The main aim of this investigation is to identify MNCs practical expertise of dealing with language and communication problems in order to explore the employers’ expectations, needs and demands. The authors aimed at identifying and advocating the missing competencies to be considered by syllabus developers and course designers of language and communication programs in business education. The suggested missing competencies have been proposed for further consideration and discussion.