PurposeAn 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/approachThis 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.FindingsResults 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/valueThe 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.