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Cited by 2 publications
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Critical success factors for transformation of public universities into entrepreneurial universities
Even with the urgent need for public universities to transform into entrepreneurial universities in Botswana, very little is known especially in developing countries such as Botswana on what it takes to transform. Therefore, this paper aims to investigate the critical success factors for the creation of entrepreneurial universities in Botswana. Our core research question asks: What are the critical success factors for the transformation of public universities into entrepreneurial universities? The study used a descriptive literature review methodology to collect secondary data. A data set of 150 articles were reviewed which dated from 1987 to 2024. Data sources identified were books, academic journals, academic papers, technical reports, theses, articles, and working papers from reputable academic databases such as Scopus, EBSCOhost, Google Scholar, Web of Science, ProQuest, Research Gate, Scientific Research Publishing and Wiley. The study revealed four main success factors in creating entrepreneurial universities - strategic, internal, environmental and external. The study underscored the need for resources, entrepreneurial education, entrepreneurial leadership and entrepreneurial culture in the creation of an entrepreneurial university. Moreover, flexible governance structure, enterprise support policies, role model and reward system, entrepreneurial architecture and collaborations with stakeholders were also highlighted as crucial for a successful transformation of public universities into entrepreneurial universities. The study further revealed that the transformation requires external support mechanisms from government, industry, and regional interventions. Consequently, creating an entrepreneurial university requires a collective effort between the university itself, government, industry and regional interventions. The implication is that public universities should forge partnerships and synergies with external stakeholders to transform into entrepreneurial universities. In light of the above, the study recommends the adoption of a quadruple helix model in creating entrepreneurial universities. Future research is recommended to fully evaluate the efficacy of the quadruple helix model in the development of an entrepreneurial university. The study contributes to the body of knowledge and global debates surrounding the creation of entrepreneurial universities.
Critical success factors for transformation of public universities into entrepreneurial universities
Even with the urgent need for public universities to transform into entrepreneurial universities in Botswana, very little is known especially in developing countries such as Botswana on what it takes to transform. Therefore, this paper aims to investigate the critical success factors for the creation of entrepreneurial universities in Botswana. Our core research question asks: What are the critical success factors for the transformation of public universities into entrepreneurial universities? The study used a descriptive literature review methodology to collect secondary data. A data set of 150 articles were reviewed which dated from 1987 to 2024. Data sources identified were books, academic journals, academic papers, technical reports, theses, articles, and working papers from reputable academic databases such as Scopus, EBSCOhost, Google Scholar, Web of Science, ProQuest, Research Gate, Scientific Research Publishing and Wiley. The study revealed four main success factors in creating entrepreneurial universities - strategic, internal, environmental and external. The study underscored the need for resources, entrepreneurial education, entrepreneurial leadership and entrepreneurial culture in the creation of an entrepreneurial university. Moreover, flexible governance structure, enterprise support policies, role model and reward system, entrepreneurial architecture and collaborations with stakeholders were also highlighted as crucial for a successful transformation of public universities into entrepreneurial universities. The study further revealed that the transformation requires external support mechanisms from government, industry, and regional interventions. Consequently, creating an entrepreneurial university requires a collective effort between the university itself, government, industry and regional interventions. The implication is that public universities should forge partnerships and synergies with external stakeholders to transform into entrepreneurial universities. In light of the above, the study recommends the adoption of a quadruple helix model in creating entrepreneurial universities. Future research is recommended to fully evaluate the efficacy of the quadruple helix model in the development of an entrepreneurial university. The study contributes to the body of knowledge and global debates surrounding the creation of entrepreneurial universities.
Support of the SDGs as a New Approach to Financial Risk Management in Responsible Universities in Russia
The purpose of this paper was to reveal the influence of the support of the sustainable development goals (SDGs) on the financial risks of responsible universities in Russia. This paper fills the gap in the literature that exists regarding the unknown consequences of SDGs’ support by responsible Russian universities concerning their financial risks. Based on the experience of the top 30 most responsible Russian universities in 2023, we used regression analysis to compile a model for their financial risk management. This model mathematically describes the cause-and-effect relationships of financial risk management in responsible Russian universities. This paper offers a new approach to financial risk management in responsible Russian universities. In it, financial risks to Russian universities are reduced due to universities accepting responsibility for state and private investors. A feature of the new approach is that the effective use of university funds is ensured not by cost savings but by the support of the SDGs. The potential for a reduction in financial risk in responsible universities in Russia through alternative approaches to financial risk management was disclosed. The proposed new approach can potentially raise (to a large extent) the aggregate incomes of responsible universities in Russia compared to the existing approach. The main conclusion is that the existing approach to financial risk management in Russian universities is based on low-efficiency managerial measures which risk burdening universities. This burden could be prevented with the newly developed approach to financial risk management in responsible universities in Russia through support of the SDGs. The theoretical significance lies in clarifying the specific list of the SDGs whose support makes the largest contribution to reducing financial risks for the universities—namely, SDG 4, SDG 8, and SDG 9. The practical significance is that the new approach will allow for full disclosure of the potential reduction in financial risks in responsible universities in Russia in the Decade of Action (2020–2030). The managerial significance is as follows: the proposed recommendations will allow improved financial risk management in Russian universities through optimization of the support of the SDGs.
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