This article examines how Finnish universities and other higher education institutes have responded to the challenges posed by rapid changes in the world of work and societies all over Europe, particularly with reference to the development of generic skills. The data were collected by means of individual and group interviews at three Finnish higher education institutes, including two universities and one university of applied sciences. The interviews involved 63 persons in charge of management, development and teaching at these institutes. As a result of the qualitative data analysis, we distinguished four models to represent the development of generic skills, which we named (1) Specialist Model, (2) Science-based Renewal Model, (3) Project-based Integrative Model, and (4) Model of Networked Culture. These models serve as analytical tools that help higher education institutes to examine their existing practices and to develop new ones.