University's Role in Knowledge Creation and Knowledge Transfer

Most university takes as its missions to conduct research, provide education and render services to the society. From an outcome-based prospective, these translate to creation of knowledge, cultivation of future leaders and the application of knowledge.  A university therefore is generally evaluated by the knowledge it created, performance of its graduates, and, impacts of knowledge transfer which consists essentially of innovation and entrepreneurship. Overall, success of a university in the knowledge-based economy is a complex phenomenon which requires the mind-sets, skill-sets and resources generally not found within an academic setting but in its habita or macro innovation system. Hopefully this report will describe some of the factors confronting the modern university to serve as a base of discussion for the way onward.