A Concept of Entrepreneurial University: Critical Analysis of Literature

Abstract

“The search for new sources of finance to replace declining government funding for higher education is a strong imperative for universities in a number of economies to adopt “new managerialism” and “entrepreneurialism”. In the 21st century, the “entrepreneurial university” tends to displace the 20th century’s socially-oriented “mass university”, yet must still co-exist with the traditional “ivory tower” university. “The role of the entrepreneurial university is increasingly being seen as important for finding new ways to compete and succeed in uncertain and unpredictable environments and for finding new solutions to the multiple challenges that need to be addressed for the public good whether local or global”. The main objective of this article was to contribute to the understanding of the entrepreneurial university and to determine the factors for successful entrepreneurship universities. The author used entrepreneurship theories to define and conceptualize entrepreneurial university. Design/methodology/approach: The author used a qualitative approach by reviewing literature on the concept of entrepreneurship universities. Findings: This study presents a conceptualization for entrepreneurial universities and proposes six factors for the successful entrepreneurial universities. Conclusions and recommendations: for universities to transform to entrepreneurial universities it requires considerable effort, top managers of the universities should change the style of management, reduce bureaucracy to enhance decision making, monitor the external environment and reduce time wastage. The result of the study is useful to university managers, investors, academicians and policy makers.