The global economic crisis of the past decade and the accruing shifts in labour market policy, coupled with the rapid advances in technology have resulted in a far less certain future employment horizon than ever before . In response, Higher education institutions (HEIs) are best positioned to advance knowledge and produce work ready graduates with the requisite skills for the future economy . In this paper, the current understanding regarding the role of HEIs, the academic-student partnership, graduate employability, industry collaboration and research led teaching are merged into a framework entitled P-PAC (Partnership in Pedagogy, Accreditation and Collaboration). This framework encourages and embeds a partnership approach between academia, students and industry with the goal of promoting collaboration, facilitating relevant curriculum and pedagogy practise and accrediting achievement in order to effect deeper and more engaged learning and teaching, so that students are better equipped with the necessary skills for both employability and global citizenship. The P-PAC framework is validated using a 5 ECTS Lean Systems module. The authors also define Threshold Concepts-major as those concepts (identified by the academic) which are inherent in a module and which need to be achieved by the student, in order to attain mastery of the subject matter. Threshold Concepts-minor are defined as those intermediate concepts identified by the student in their mastery of Threshold Concepts-major. Examples of both concept types are presented in this paper.