The purpose of this exploratory cross-sectional non-experimental survey research study was to identify the perceptions held by four groups identified as university community stakeholders regarding the role a research laboratory preschool plays in supporting a university's strategic planning initiatives for enhancing student learning, experiential learning, expanding community partnerships, and university growth. The study explored stakeholders' perceptions at one small private university located in an affluent suburban community in the mid-Atlantic region of the US. The results of the exploratory cross-sectional study indicated that the four stakeholders perceived an innovative and entrepreneurial initiative such as a Research Laboratory Preschool would support university strategic planning in Enhancing Student Learning, Experiential Learning, Expanding Community Partnerships, University Growth. The findings also suggest that the four stakeholder groups perceive that an initiative such as this supports the university's mission and vision, would contribute to the university's revenue stream, and enhance community partnerships. The results of the open-ended questions of the exploratory cross-sectional study yielded three themes relating to the greatest challenge to achieving strategic planning goals, financial implications, leadership, and the existing climate and culture of the institution. Additionally, the study yielded three themes relating to examples of innovative and entrepreneurial initiatives that would support a university's strategic plan and enhance the institution, agricultural sales and service initiatives, animal science initiatives, and experiential learning partnerships. These findings provide insight into the perceptions stakeholders hold regarding the role innovative and entrepreneurial initiatives play in a university's strategic planning and have implications for future research in change theory, organizational dynamics, and leadership models that would support the implementation of an initiative associated with a change of this magnitude. [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/en-US/products/dissertations/individuals.shtml.]