Higher Education has attained a key-position in the knowledge society under a globalised economy. However, the challenges faced are immense and far-reaching its impact on the clients of an organisation, Individuals, Institutions, Systems and Societies is not only net-clear but unclear also not comprehendible at this moment unless it is viewed in the context of various other factors that are simultaneously operating on the higher education system. Some agree that the erratic rapid cross national flows of people, goods, capital and information may dissolve the nation State, push-institutions (university is the one) into a common mould whereas others disagree. It is assumed that globalization promises dramatic and rewarding change to the higher education systems, of societies, which are relatively stable in their political, social and institutional makeup, while for the others, it may threaten the very stability needed to build well performing higher education system, It is also true, that so far globalization has given the advanced economies a huge advantage as they had made enough preparation prior to its launching while others are caught in the trap without any preparation.