The benefit of Dell embracing university (5)
I believe the answer is:
value
'the benefit' is the definition.
(thesaurus)
'dell embracing university' is the wordplay.
'dell' becomes 'vale' (I can't explain this - if you can you should believe this answer much more).
'embracing' is an insertion indicator.
'university' becomes 'u'.
'vale' enclosing 'u' is 'VALUE'.
'of' acts as a link.
(Other definitions for value that I've seen before include "Precise meaning" , "Importance, worth or usefulness" , "Monetary worth" , "Esteem" , "Estimate the worth of" .)