Purpose: An academic-practitioner divide exists suggesting the need for business education curriculum to more appropriately suit private-sector demands. This calls for pedagogical approaches that offer experiences and build skill sets to better prepare graduates for the workforce. The authors propose a framework, collaborative engagement experience-based learning (CEEBL), as a new pedagogical method for teaching and learning in business education. This research provides a viable solution to bridge the gap between academia and industry. The authors suggest CEEBL also offers business students new methods of engagement in the world of work. Design/methodology/approach: This exploratory study investigates the CEEBL framework applied to a business education course in competitive intelligence (CI) and a crisis simulation exercise that offer "real world" experiences to students. Data were collected in two semesters and included feedback from over 70 undergraduate students. Findings: Results suggest that the CEEBL framework provides students with the learning experiences to build much-needed skill sets. Additionally, Hallinger and Lu's (2011) assessment of overall instructional effectiveness showed positive statistical results for its dimensions. Originality/value: The CEEBL framework is coined from two existing pedagogical underpinnings; collaborative engagement (CE) and experience-based Learning (EBL). These concepts offer insights into the ways in which CE promotes a rich learning experience. The new framework takes into consideration the relationship(s) among the dimensions of CE and EBL and how they intertwine with each other to create a pedagogical method that can better prepare students for a dynamic workplace. CEEBL can be easily adapted for online, hybrid or in-session teaching environments. Additionally, the framework offers flexibility in application to other disciplines while addressing current topics and issues through the capstone exercise.