In contemplating about the quality of higher education needed for today, this paper reviews the changing concepts and expectations towards higher education. It does so by delineating the changing setting of the higher education sector, the changing understanding of scholarship, the changing economy that leads to the emergence of entrepreneurial university, and the growing globalization and internationalization of higher education. It concludes by suggesting an integrative role to be taken by the university that takes into account all the changing expectations towards higher education under new economic and social circumstances.