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Based on market orientation theory,universities should educate their students according to firms requirements.This is why hiring qualified employee and finding suitable job are sometimes not easy for both firm and college students,for there are "employment gap" between them.This study focuses on firms in Guangzhou,and aimed at college students majoring in economy and management,to determine the employment requirements though data collection and in-depth interviews.Questionnaires are issued to firms and undergraduates and data is collected and analyzed to test their perceptions gap.The research results show that there are perception gap between firms and students on both factors and items.Firms and undergraduates view background and capability components differently based on factor and reliability analysis; they view 6 items significant different based on independent sample T-test.