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The further education (FE) sector has undergone political and economic changes. These changes support a managerialist culture and introduce competition and business models into education. This chapter is based on a case study carried out in a large FE college during the period of incorporation. The author describes the changes that have resulted from incorporation: new terms and working conditions; new quality assurance arrangements; the introduction of the Training and Development Lead Body assessor and verifier awards for lecturers; lecturer appraisals; and college performance indicators. The findings of the study suggest that the cumulative effect of reforms to the structure and curriculum have created contradictory and oppositional forces within FE. While not all of the changes are seen in negative terms by lecturers, they voice their concern over the implications of the introduction of competition and business models into FE.