BHigher education is no longer a luxury; it is an essential tool for survival but, at the same time, higher education is essential to national, social, and economic development^. (Task Force on Higher Education and Society 2000). Knowledge management becomes ever more vital as the current global crisis gets worse and worse. After industrialism's exploitation of resources lost its ability to procure satisfaction, knowledge economy was introduced as an solution (Heng et al. 2012; Ženko et al. 2017; Di Nauta et al. 2018; Carayannis et al. 2014). This is a system wherein the sharing of knowledge plays a crucial role in the production of prosperity, as the advancement of knowledge and the promotion of its efficient use is vital in today's society (Mortazavi and Bahrami 2012; Mason 2018). Nowadays, we see a shift in which productivity and growth depend more on human resources, in terms or intellect, than natural resources, further incentivizing effective interaction between the government, universities, society, and the private sector (Heng et al. 2012). In spite of the differences between European and American universities, similar developments have been found in both higher education systems (Dabić et al. 2016). Universities, now more than ever, are increasingly expected to facilitate economic development and societal welfare (Etzkowitz et al. 2000), straying from their traditional role, which focused exclusively on research and the transfer of knowledge (Wright et al. 2008). Each new expectation added to the university agenda affects all of its existing functions (Philpott et al. 2011). Previous changes pertain to curriculum reformation, quality improvement, implementation of control mechanisms, guarantee