Gibraltar PhD in Business Programs
The Doctor of Philosophy, or PhD in business, is an upper-level, research-focused degree. PhD business programs also include a wide array of practitioner-focused doctorate in business programs, such as, but not limited to, the Doctor of Business Administration (DBA degree). Moreover, ‘business’ is an umbrella term for many distinct fields of study. Accounting, Economic Analysis, Finance, Marketing, Health Administration and Organizational Behavior are just a few examples.
Choose a PhD in Business: PhD vs DBA
PhD in Business programs span academically equivalent degrees, such as the Doctor of Business Administration (DBA) Doctor of Management (DM), and Doctor of Public Administration (DPA) degrees. It is likely in these programs, that the course of study will address several common factors. These could include the research and observation of business systems, leadership, financial management, accounting, economics, strategy, and business ethics. That said,the type of doctorate degree in business you choose should reflect several key factors.
- Do you prefer or intend to research and teach in your area of expertise?
- Is your goal to excel in the practice of your area of expertise?
- What is your area of expertise (e.g. business, IT, accounting, public administration)
- Are you a recent graduate or seasoned manager?
FACT: When surveyed, 66% of business professors reported they had doctoral degrees, 5% said they had post-doctoral training.i Click To Tweet
The Doctor of Philosophy in Business (PhD)
Business PhD programs often appeal to those who want to prepare for a research career in an academic institution. Usually, they are designed to equip learners with the tools to pursue their own interests. This is so they can prepare their dissertation. Consequently, PhD in Business students may work closely with PhD faculty and classmates within their field of study. They may also interact with other scholars and peers in a rigorous course of study.
PhD in Business Requirements
Aside from research, students are generally required to take courses in their chosen field and in other disciplines. This includes advanced level courses in which students devote themselves to master all facets of their program. These often cover behavioral, economic and mathematical sciences (e.g. statistics and data analysis) essential to research in business-related disciplines.
Conduct Research of Publishable Quality
By the second year of their PhD, students in some universities must pass a comprehensive exam that tests the depth of their knowledge. They may also be required to take part in research and teaching apprenticeships. Also, annual evaluations often precede final advancement to candidacy for the dissertation process. The dissertation is the final requirement for the PhD. It is common that students must make a significant contribution to their business topic that is of publishable quality.
PhD Business: Admissions
To be considered for a PhD in Business program, applicants generally need a bachelors degree, resume, essay and letters of recommendation. The GMAT and GRE scores, as well as program and school specific coursework and material may be added to this. While previous work experience and graduate work may not be required, this may vary from school to school. How Long is a PhD in Business? In some full-time PhD programs in business, students need about four to five years to complete the requirements of their program. Part-time PhD programs may lengthen the time to completion, however each school sets their own time frames.
What Is a DBA degree?
A Doctor of Business Administration or DBA degree is a terminal business-focused degree that provides practical knowledge that may be directly applied in the workplace. Like, the PhD, the DBA can be earned in many fields of study such as finance, marketing, and healthcare management. How Does a DBA Degree Differ from a PhD in Business Administration? Where the PhD in Business is aimed at the scholar, the Doctor of Business Administration, often targets current managers and practitioners.
The goal of a DBA degree is to help students connect theory and research to practice. As a result, it is often considered an ‘applied research’ degree that may provide tools to solve real-time business problems. For example, they might focus on strategic change management or global business solutions.
DBA in Business Requirements
One of the key parts to a DBA degree is that it usually has a series of core courses. These target essential business functions. management, accounting, statistics, leadership, global economy, marketing, financial theory and executive strategy for example. In addition, candidates are often required to select a focal area from their university’s list of options. As these vary a great deal, it may make a great differentiator for the student who knows what they want to highlight in terms of research and applied skills.
Apply Research to Practice
Like the PhD in Business, a DBA program is structured around research, inquiry and a dissertation. However, students often learn how to correlate data and evidence to a business problem through case studies, critique, and surveys. Also, their goal is to apply their expertise, learn how to solve complex problems and think in an action-oriented as if they were consultants.
DBA Degree: Admissions
Admissions to a DBA degree program, especially to Executive DBA programs, often requires students to have an MBA or equivalent business-focused masters degree. Also, a certain work experience or graduate level coursework may be necessary.
How Long Is a DBA Program?
While a variable, a full-time student might earn their Doctorate in Business in about three years. Many universities have self-paced online DBA programs and part-time options as well. Explore Distinct Fields of Study for Your Business Doctorate As the highest academic award in business, candidates often use their doctorate degree in business to expand leadership skills, cultivate expertise, engage in research, and prepare for careers in academia. While some students may decide to work towards a PhD in General Business, others might opt to focus their studies. Whether you prefer the PhD in Business or DBA, there are many distinct fields to explore.
Accounting Students who pursue a PhD or DBA Accounting may expand their knowledge of managerial accounting methods. These are essential to a company’s bottom line and competitiveness. Learners might also explore the principles and theories of managerial decision making, corporate governance, and employee performance evaluation from domestic and global business perspectives.
Business Administration & Management
Individuals who pursue a Doctorate in Business Administration or Doctorate in Management focus on research that creates management theory and knowledge that is relevant to business practice. Topics often include organizational behavior and business management theory.
Many students further pursue a focal area to apply advanced managerial skills to specific industries or environments. Business Information Systems Doctorate in business information systems programs may address the challenges that face technology-based businesses. Students may learn how to help align business needs with technological solutions as well as identify new applications for technology. E-Commerce & Social Media A PhD in business program that highlights social media and technology is likely to explore current research in communication media and technology. Students may learn how to create plans and models to integrate information and communication technology (ICT) in strategy and decisions. Economics A PhD in economics may focus on topics such as econometrics, macroeconomics, environmental economics, and labor economics.
Students may also pursue one of these areas for advanced research.
A Doctorate degree in business that highlights entrepreneurship might build the skills and know-how to manage risk and change. Also, students may feel encouraged to innovate and raise capital for ventures or identify market opportunities.
Environment & Agriculture
The Doctor of Management with an emphasis in Environmental and Social Sustainability may address topics such as energy conservation. In their research, students might explore organizational policy and management theory.
A PhD in finance programs might examine concepts such as valuation, capital budgeting and structure, working capital management, multinational concepts, and Capital Asset Pricing Model (CAPM). A doctorate degree in finance may amp up one’s expertise through more advanced theories such as option pricing, derivatives, and hedging.
Healthcare Administration & Management
The Doctor of Healthcare Administration and Management concentration may help students apply managerial decisions to healthcare policy. Students may explore the regulatory, economic and ethical dynamics of healthcare organizations and health services.
Human Resource Management
The human resource management concentration may help students develop the ability to plan for an enterprise’s long-term success. Many programs take a deep look at organizational issues and may provide tangible strategy for HR divisions.
A doctorate degree in international business may prepare students with the skills that are crucial to manage and lead teams, workers, and managers within the global marketplace. Programs of this nature often address trade influences, investments, and interest rates.
Marketing & Advertising
Students who pursue a DBA in marketing might study key concepts. These could span such as market segmentation, marketing channels, competitive intelligence, integrated marketing, product development and commercialization, and consumer behavior. Also, students may take away an enhanced sense of how to leverage strategies in the global arena.
The non-profit administration focus may provide students with a grasp of how to collaborate with communities, organizations and various groups. A PhD in nonprofit management may also cover topics such as employee and volunteer development, legal, regulatory, and tax issues, financial analysis and reporting, and marketing. Students might develop advanced skills in fund development and stewardship.
A concentration in operations management may help PhD and DBA students learn how to manage global supply chains. Students might explore current best practices and ways to boost customer satisfaction, cut operational costs and use technology. Organizational Leadership Those who earn a PhD in Organizational Leadership focus may examine leadership in depth. As a result, it may be ideal for managers and supervisors who aspire to pursue executive roles. Many programs of this nature explore team-building, interpersonal dynamics, strategic change management.
Those who earn a terminal degree in project management may acquire the skills to manage and analyze the performance of, complex portfolios. In addition, a DBA in project management might boost project-based strategic leadership and organizational practices.
Public Administration & Policy
Individuals may find Doctor of Public Administration (DPA), PhD in Business Administration/Public Administration, PhD in Interdisciplinary Studies and PhD in Public Policy and Management programs. There may be opportunity to focus in on criminal justice, crime and drug policy, health economics, labor economics, homeland security and other issues.
The sports management concentration might tackle issues and research in areas of marketing, fundraising, law, personnel management, team dynamics, burnout, and transformational leadership.
A technology management focus may integrate technical experiences with theory and research. Students who pursue either the DBA or PhD might explore the synergy between business and technology. Also, they may use their research to explore concepts such as productivity, quality management and environmental systems management.
What Might I Do with a PhD In Business?
A PhD in business may provide the education required to teach or research at the postsecondary level. ii Per the BLS, the degree level needed by executives vary, although most top executives earn their degree in business administration or in an area related to their field of work.ii With a projected employment growth of 6 percent to 2024, the median annual wage for chief executives was $181,210 in May 2016. ii
Find Accredited Business Doctorate Programs
Many regionally-accredited universities offer PhD business programs. Some individual programs may also be approved by professional accreditors. One such agency is the Accreditation Council for Business Schools and Programs (ACBSP). Take the Next Step Easily compare DBA and PhD in business programs in three easy steps. First, refine by format – online, campus or hybrid. Next, filter by subject (focus). Last, use the on-page form to contact the business schools on your list. Take those three easy steps now!
Source: [i] onetonline.org/link/summary/25-1011.00 | [ii] bls.gov/ooh/management/top-executives.htm