This paper presents a case study of applying the Problem Based Learning (PBL) approach in a Web-based environment. The application domain concerns Business Management and Technology Management topics. At first, the paper describes the rationale and the main features behind the PBL for creating Business Leaders in the Emerging Competitive Environment. Then, it introduces the Web-based system called "Virtual eBMS" that has been designed and implemented at the e-Business Management Section (eBMS) of the Scuola Superiore ISUFI. The system is illustrated by highlighting the operational framework allowing an author to design PBL-based curricula; moreover the two main learning approaches (structured and unstructured) referred to the learner access to the curricula are proposed, allowing him to capture the most suitable learning resources for solving complex problems. Finally, the main benefits from the learner perspective, together with some indications for future research will end the paper.