This case study explored the relationship between entrepreneurial decision making and optimal institutional governance. The study focused on a single institution, characterized as a small, tuition-driven, private institution. Twelve participants were interviewed in the study, equally divided between members of the faculty and of the administration. The participants were interviewed using a semi-structured interview approach. Anonymity of the college and the participants was preserved. The entrepreneurial decision studied was the aggressive growth of online programming at the college. The advent and rise of entrepreneurialism in the world of higher education has been the result of changing demographics, increasing competition, particularly from proprietary institutions and the changing profile of the student. These environmental forces have created downward pressure on revenues as expenses have continued to rise. Collegial governance systems of old are no longer effective in this new entrepreneurial world. For institutions to survive and to thrive, governance of the university must adapt to an entrepreneurial philosophy. Researchers have identified and examined approaches to governance systems including: the corporate (or managerial) approach, traditional shared governance, and a new re-constituted system of shared governance. Both the corporate and the traditional shared systems of governance have their weaknesses, but there seems to be hope in developing a new construct for entrepreneurial shared governance. The study highlighted key attributes of this new system of governance. A number of these attributes presently exist within both the shared and corporate governance models. Fundamental to any successful governance is trust and mutual respect. Based on this foundation, the stakeholders need to work collaboratively and compromise, to communicate effectively, and to work towards a common goal and a shared vision. This new model of governance can only exist in an atmosphere where the entrepreneurial need for speed of decision making and agility of action are understood. Rather than working separately in silos, stakeholders must work together to bring unique talents and differing perspectives to the process of decision making. Decisions made in a spirit of inclusiveness will be more informed and thus optimal. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com.bibliotheek.ehb.be/en-US/products/dissertations/individuals.shtml.]