This paper examines the no-growth phenomenon in higher education. A framework is presented for viewing what is occurring in higher education as it seeks to resume a dynamic state of growth. Borrowing from Schumpeter's five categories of innovations by which business firms seek to gain a competitive edge over their rivals, an analytical framework is developed, and the current activities of higher education institutions and agencies vis-a-vis no growth are examined. The authors conclude that higher education is attempting to develop new products, i.e., new courses, programs, degrees; new methods of production, i.e., improving instructional and noninstructional productivity; new markets, i.e., new sources of students; new productive factors, i.e., dollar resources; and is reorganizing and restructuring the enterprise. (Author/MJM)