The Vision Management Mechanism in the Transformation of Entrepreneurial Universities from the Perspective of Stakeholders: A Case Study Based on the Massachusetts Institute of Technology

Abstract

The entrepreneurial university is a novel model for the advancement of research universities, driven by knowledge to foster national and regional economic development, while establishing a new collaborative relationship between government, academia, and industry. In the era of the knowledge economy, transforming universities into entrepreneurial institutions not only meets societal and economic demands but also presents opportunities for their own growth. This research is based on stakeholder theory and takes “certain-anticipative-potential” as the analytical framework. Drawing upon stakeholder theory, this study examines the Massachusetts Institute of Technology (MIT) as a case study using a single explanatory approach. Following the logic of “construct-practice-inspectconsensus” within vision management processes, this research analyzes and reveals the specific correlation between vision management and the transformation of entrepreneurial universities. Findings indicate that during this transformation process, there exists a non-linear relationship among four stages of vision management-construct, practice, inspect and consensus. Certain stakeholders play an influential role in shaping university visions through construct stage and inspect stage while both certain stakeholders and potential stakeholders collectively drive progress in practicing visions. Future research can further comprehend stakeholder interests through empirical investigations.