The main purpose of this research is to analyze the exploration and exploitation of knowledge in universities that support innovation and entrepreneurship in their environment. For this, the Performance Measurement Systems (PMS) of the universities management are analyzed as a proxy for the implementation of the strategic vision of the universities. This study is based on a systematic literature review on the subject, supported by the technical possibilities offered by the MAXQDA (The Art of Data Analysis) program. The databases used were the following: Elsevier (Science Direct), Springer, Wiley and Taylor & Francis. The main findings suggest that organizational ambidexterity, in general, develops unevenly and from different approaches, among which innovation, learning and strategy stand out. However, organizational ambidexterity hardly develops in a university context, where most of the university activities require some knowledge of the technological frontier. Therefore, it is necessary to analyze and understand these two dimensions (exploration and exploitation) and their positive influence on entrepreneurship. In a context where the development of technology and science happens at an ever-increasing speed, a balance between exploration and exploitation is necessary, which should be reflected in the different control mechanisms in academic environments, such as the Performance Measurement Systems (PMS). The analysis of these systems will allow to know the position of the universities in the face of ambidexterity.