Institutional entrepreneurship ‐ A panacea for universities‐in‐transition?

University administrators are facing increasingly difficult times as public funds are contracting and accountability for the use of such moneys is increasing. With these financial exigencies, universities must seek alternative means of generating revenues to support their mission. One such approach involves the use of institutional entrepreneurship. This paper describes how institutional entrepreneurship complements strategic marketing management and strategic management, how it can ultimately generate funds for universities‐in‐transition, and provides a case illustration of how universities have successfully employed entrepreneurial activities to their advantage.