Abstract
Higher education institutions (HEI) are faced with increasing challenges related to shrinking resources, high operation costs, the COVID-19 pandemic, decreasing student enrolment rates, and pressure to contribute to regional development and economic growth. To overcome such challenges, academics must move beyond their traditional functions of research and teaching and engage in entrepreneurial activities. Through engagement in entrepreneurial activities, academics can contribute to frugal innovation (FI) in private HEI (PHEI). The literature in this context emphasizes that academic entrepreneurial engagement (AEE) will lead to innovation, the identification of opportunities for new business ventures, financial rewards for institutions and academics, an impact on the economy, and the enhancement of social welfare. This study presents a systematic review of the literature and adopts the Transfield five-phase strategy to review the literature on AEE from the past two decades (2000-2020). A total of 1,067 papers on FI are obtained, only five of which focus on AEE. Moreover, papers related to AEE for FI are few. The study presents the research gaps, challenges, and potential factors for further research in this context. We conclude that FI for AEE in PHEI can be a game-changer for future sustainability. Moreover, we believe that the outcome of this review warrants further research.
Highlights
Higher education institutions (HEI) are faced with increasing challenges related to shrinking resources, high operation costs, the COVID-19 pandemic, decreasing student enrolment rates, and pressure to contribute to regional development and economic growth
REVISED Amendments from Version 1. This revision includes improved introduction with details on the theoretical and practical contributions as well as answers to What do we know? What else do we need to know? Why do we need to know? What will be done in this research? Reason for Frugal innovation and not just innovation is indicated in this revision to highlight the need of frugal concept for private HEI (PHEI)
Notwithstanding their strategic contributions, PHEI are challenged by dwindling resources and the need to contribute to the economy and social development.[1]
Summary
Higher education institutions (HEI) are faced with increasing challenges related to shrinking resources, high operation costs, the COVID-19 pandemic, decreasing student enrolment rates, and pressure to contribute to regional development and economic growth. Any further responses from the reviewers can be found at the end of the article Introduction Private higher education institutions (PHEI) play an important role in a nation’s economic development and prosperity by supplying skilled workforce and generating basic knowledge for solving societal problems Notwithstanding their strategic contributions, PHEI are challenged by dwindling resources and the need to contribute to the economy and social development.[1] For instance, in Malaysia, PHEI are faced with rising operating costs, pressure to increase their global ranking, drop in student enrolment, problems in balancing teaching and research task allocation, decreasing government funding and shrinking budget allocations for staff development and empowerment programmes.[2]. To survive, PHEI management must devise effective strategies to attain financial stability amidst dwindling resources
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