As management educators increasingly focus their attention on instructional outcomes, competency-based education has emerged as an important component in graduate business education. The most sought after graduate students are not only knowledgeable in business fields but also demonstrate competence in critical managerial skills. This article focuses on the development, implementation, and assessment of a competency-based component of the Master of Management in Hospitality program at the School of Hotel Administration at Cornell University. This program component assesses and directs the development of graduate students’ skills in writing, presentational speaking, and leadership/group process skills. To the extent that it has proven effective in accomplishing its objectives, it may serve as a model for business educators interested in including competency-based education in their programs.