The role of vocational education and training (VET) in the context of the dynamic and changing demands of the world of work is explored through a more comprehensive approach to the overall system of human resources development (HRD). HRD is the concern of both educationists and economists. To an educationist, HRD should first be human and then professional. An economist would emphasize the need for as accurate a matching of supply and demand in educational and labor market planning as possible. Labor market planners are frequently faced with the dilemma of whether to sacrifice some individual aspirations and social ideals to ensure the adequacy of labor supply or to sacrifice the fulfillment of some economic needs the better to respond to individual claims and social pressures. Three main systems exist in practice in VET as a component of HRD frameworks and institutions: the school system, the enterprise (on-the-job) system, and the integrated (dual) system. One or more such systems might exist in a country. Three main criteria for evaluation of VET programs are linked with varying degrees to the criteria and changing demands of the world of work: internal, economic, and external evaluation. The role of the world of work, represented by the various types of enterprises in VET, is explored through four main functions: planning, financing, implementation, and identification of training needs. (YLB)