Visions and ideas tend to develop in universities, while private sector corporations possess the material resources needed to convert these visions into products which improve society. However, recent collaborative activities have begun with little regard for the long-term implications of external environmental conditions or the inherent differences in the two types of organizations. The university focus has been on research and teaching, not on service to society. If both universities and corporations work together, they will be able to help reduce the negative consequences and increase the positive effects of change. A recent survey instrument identified social, technological, ecological, political, and economic issues that are the most relevant for university and corporate leaders to address and assess the extent to which they hold divergent perceptions of their counterpart organizations. The findings indicated a consistent perception and sharing of common values regarding the external environment. However, university and corporate leaders do not share common opinions regarding their counterpart organizations and results suggest that executives from each group should learn more about the inherent characteristics and differences in values, resources, and procedures of universities and corporations. Figures and tables are included. (JHP)