Fundamental changes in how economies function and how organizations are structured and managed in a global environment have created a new imperative for enterprise education. Higher education has to concern itself with appropriate and effective programmes that develop enterprising graduates in an endeavour to drive forward a knowledge-based enterprising society. This paper explores the complexities associated with enterprise education provision which have influenced the emergence of diverse theories and diverse meanings. Given the diverse nature of enterprise education and the absence of a definite conceptual framework, it can be argued that higher education has to address a plethora of challenges to satisfy the different expectations of government, business and students within a global context while noting that these expectations can be conflicting. Apart from varied and conflicting expectations, broad interpretations of enterprise education add to the diversity of outcomes. The plausibility of reconciling different expectations for enterprise education has hindered its wider applicability and general consensual value. This paper makes a case for the use of an experiential learning model to adapt and amend learning outcomes for different purposes and priorities while not losing sight of the essence of being enterprising. The final section outlines briefly how the practice of experiential learning at Durban University of Technology attempts to address the challenges of enterprise education.