The pressures facing universities today are manifold, and universities throughout the world have come to realise that they can no longer proceed as they have done in the past. In many nations universities are being forced to perform a delicate balancing act between promoting increased access to tertiary education, while at the same time dealing with reductions in core funding from governments. Once somewhat oblivious to the hardcore precepts of management theory, universities are increasingly talking about "restructures" to meet these competing objectives. In short, they are trying to do more with less, and therefore studying the way(s) in which universities negotiate this dilemma has become as important as ever. This case study employs neo-institutional theory to argue that actors pursue their actions within the constraints of endogenous and exogenous factors (Greenwood & Hinings, 1996). Using this theory, the paper assesses the execution of strategic change within one of Australia's largest universities before concluding with some general prescriptions as to how university management can better actualise organizational reconfiguration.