The paper considers the problem of new image-building efforts in academic institutions in the context of shrinking government funding. Apart from the notion of a research university, surrounded and influenced by the liberal tradition, a new market-oriented type is being crystallised: an entrepreneurial university. The author provides characteristics of both these notions and points to some consequences of mass education and market-based approach to research results for essential areas of academic activities. In order to illustrate the problem and provide some background, the author draws on findings from a survey conducted among academic teachers in 2007. The respondents were academic teachers with a PhD degree or higher, employed at selected general, polytechnic and economic universities in departments of arts, humanities, technology and economics. The paper mentions respondents’ opinions illustrating their attitude towards outward-orientation of universities. In conclusion the author states that if higher education is treated on par with other institutions that form the social structure, the former may lose their identity, epitomised in the unity of research and teaching.