A review of the performance metrics and entrepreneurial practices of economics and business departments in UK universities: a ‘Gresham’s Law’ threat?

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dc.contributor.authorAlexiou, Constantinos
dc.contributor.authorSaridakis, George
dc.date.accessioned2025-05-21T15:37:09Z
dc.date.available2025-05-21T15:37:09Z
dc.date.freetoread2025-05-21
dc.date.issued2025
dc.date.pubOnline2025-05-12
dc.description.abstractEntrepreneurial approaches and privatisation practices have been widely embraced by academic and professional leadership teams in UK universities, arguably to ensure that the existing chasm between universities and society is bridged. Departments specialising in economics and business have transformed into mechanisms for disseminating knowledge reconfigured to meet the social and economic demands of the contemporary ‘entrepreneurial’ university. This article, through a comprehensive review of the extant literature, argues that the entrepreneurial practices and performance-driven metrics adopted by UK universities have largely suppressed academic pluralism, theoretical development and heterodox thinking. We are of the view that market practices, in conjunction with managerial-type approaches aimed at satisfying specific institutional and individual performance metrics, raise ethical concerns that undermine the established role of academia. The preservation of the university’s traditional role as an institution that promotes intellectual inquiry and pluralism, seeking factual and new knowledge by cultivating virtues and creativity, requires renunciation of the current model, which has transformed universities into ‘businesses’, and academics into ‘entrepreneurs’. Several alternative propositions are offered which, if considered, may help restore the sacrosanct role of the university as an institution of paideia.
dc.description.journalNameJournal of Entrepreneurship and Innovation in Emerging Economies
dc.identifier.citationAlexiou C, Saridakis G. (2025) A review of the performance metrics and entrepreneurial practices of economics and business departments in UK universities: a ‘Gresham’s Law’ threat?. Journal of Entrepreneurship and Innovation in Emerging Economies, Available online 12 May 2025
dc.identifier.eissn2394-9945
dc.identifier.elementsID673119
dc.identifier.issn2393-9575
dc.identifier.issueNoahead-of-print
dc.identifier.urihttps://doi.org/10.1177/23939575251335084
dc.identifier.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/23895
dc.identifier.volumeNoahead-of-print
dc.languageEnglish
dc.language.isoen
dc.publisherSage Publications
dc.publisher.urihttps://journals.sagepub.com/doi/10.1177/23939575251335084
dc.rightsAttribution-NonCommercial 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by-nc/4.0/
dc.titleA review of the performance metrics and entrepreneurial practices of economics and business departments in UK universities: a ‘Gresham’s Law’ threat?
dc.typeArticle
dcterms.dateAccepted2025

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