By obtaining an Online Doctorate in Business and Management degree, students are able to enhance critical thinking and analytical skills, hone leadership abilities and develop an expertise in conducting and understanding research, methodology, and evaluation. Online doctorate in Business and Management programs are ideal for management professionals or post-graduate students looking to reach the top of their field while continuing in their current career path. Students who pursue Online Doctoral Degrees in Business and Management typically have obtained a Master of Business Administration with an emphasis in either: Finance, International Business, Marketing, or Risk Management. In addition to the above specializations, Online PhD. in Business and Management students typically already have at least five to eight years of experience in the field as construction managers, financial managers, budget analysts, and cost estimators. Completing an online doctorate in Business and Management will take three to four years to complete. Most programs require the completion of a dissertation, which is a doctoral paper or journal publication that contributes to business theory. Throughout the program, students should prepare to produce several original writings for the academic year while also conducting research for their final dissertation.
About Online PhD Programs in Business and Management
The Online Doctorate in Business and Management trains students in the principles of organizing and overseeing the operations of an organization within a corporate environment. Recent graduates must be knowledgeable in such concepts as management theory, behavioral management, quantitative analysis, logistics and supply chain management, and marketing and sales management. Accredited online PhD. programs in Business and Management encourage students to prepare for future challenges that include managing technology and virtual supervision of human resources on a global scale. Students learn how to maximize their capacity and improve their abilities to make decisions. Work to be completed during the program will include writing essays, taking examinations, submitting a dissertation, and completing pre-major coursework.
- Management Theory in a Global Economy. Offered by Grand Canyon University, this course gives an overview of seminal management theories and their applicability or divergence from current business practices.
- Designing Organizational Theories. Also offered by Grand Canyon University’s online PhD program, this course examines the foundations of the design and structure of modern businesses management principals.
- International Business Management. This course, offered by Jones International University, provides doctoral candidates the opportunity to gain a comprehensive understanding of international management theory and practice by looking at past and present international perspectives.
- Economics for Business Decisions. Students participating in this Grand Canyon University course will learn skills and competencies needed to apply microeconomic principles to develop solutions in business.
- Sustainability and Innovation in the Business Enterprise. Offered by Jones International University, this course provides students a comprehensive overview of past, present and future theories of business management that focus on sustaining business enterprise.
- Emerging Issues in Financial Management. Offered by Grand Canyon University, students will learn the frameworks that drives financial decision making in today’s businesses.
- Developing the Formal Proposal. In this course offered by Grand Canyon University, students develop a problem statement, identify research questions and then identify the data required to answer those questions. The end result is to prepare the students final thesis by demonstrating an understanding of effective research application.
- Residency: Presentation of Progress or Results. This residency offered at Grand Canyon University prepares students to present their scholarly work and to thoughtfully critique the work of others.
- Dissertation I,II and III. Completed as the final piece of the PhD in Business and Management program at Grand Canyon University, the three dissertation courses emphasizes the steps scholars must take in developing a reporting mechanism that presents the outcomes of the students research in a way that clearly articulates the fruits of the researcher’s labors. The final dissertation course will also aid in helping students get their dissertation work published.
While dissertation topics for an online PhD in Business and Management are practically wide open, the University of California Los Angeles’ Anderson School of Management has a database of doctoral dissertations that can give any management student a great place to start in order to come up with dissertation idea. For example, previous dissertation topics have included “An Empirical Study of Selected Management Practices in Taiwan Metal Industries” and “Time Allocation Strategies for Entrepreneurial Operations Management.”
Value and Criticisms of a PhD in Business and Managment
Studying an online doctoral program in Business and Management has become more prominent in recent years, not only for its diversity of uses, but also because it allows students to further their education while working full time. For most, online programs allow the student to keep his or her current job, which is particularly helpful when it relates to the student’s current career path because it can lead to enhancing business practices. One drawback to participating in an online doctorate in Business and Management is that an instrumental part of business is the ability to network. Many campus-based doctoral programs, such as the University of Houston, require students participate in several different social functions, such as job talks with professionals within the industry, and by attending national conferences. However, if a student pursuing an online doctorate will keep their current positions, student can continue networking opportunities through their current job. Those who chose to pursue an online doctorate in Business and Management will need to be highly self motivated, as most programs require students to gather their own research material. Students who are seeking more guidance through their education may want to consider a traditional program.
Application & Admission Requirements
Typical online Business and Management PhD candidates must have at least a bachelor’s degree, but most will require applicants to have a master’s degree as well. Most applicants come from master’s programs in business administration, finance or economics. Many candidates pursuing online doctorate degrees in Business and Management enter a program with relevant, and sometimes extensive, career experience in either bank management, financial analysis or cash management. Students should be comfortable with math and numbers and have strong leadership and interpersonal skills in order to be successful in the workplace. To apply for an online doctorate in Business and Management, all applicants will need to send in a completed application, an updated resume, all undergraduate and graduate transcripts, any applicable test scores (such as the GMAT), and, in most cases, a personal mission statement or essay. A personal mission statement covers the applicant's professional goals and any relevant research or academic experience he or she may have. Schools use this to determine an applicant's strengths and interest in the program.
Career Options & Job Market
The job market for those who graduate with an online PhD in Business and Management is one of the most diverse of all doctoral programs. The degree can be applied in education for business and management professors, but can also be used by those in business, finance, advertising and marketing, construction, and even by those in educational administration. One of the fastest growing career fields for those with an online doctorate in Business and Management is a career in management analysis or similarly as a management consultant. Management analysts and consultants analyze and propose ways to improve an organization's structure, efficiency, or profits. According to the Bureau of Labor and Statistics, employment of management analysts is expected to grow 24 percent by 2018, much faster than the average for all occupations. Management analysts are usually employed in large firms or in metropolitan areas and have the highest salaries. Median annual wages of management analysts in May 2008 were $73,570. The highest 10 percent earned more than $133,850 in 2008.
Where to Find Information
- U.S. News Online Business and Management Doctorate Programs
- Management and Business and Financial Occupations
- Management Analysts Occupations
- American Management Association
- Association of Business Process Management Professionals
How to Get Funding
Tuition at Grand Canyon University for the 2011-2012 academic year costs $595 per credit hour. However, prices will likely increase over time as schools adjust tuition from year to year. Like any college or university education, scholarships and grants are available for online doctorate programs as well. For those interested in pursuing an online PhD in Business and Management, find out more about scholarship and financial aid information by calling 1-800-486-7089 for a directory of aid options available from individual schools. Another important step to consider when applying to any doctoral program is seeking Federal Student Aid through the <ahref=”http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp#”>FAFSA website. FAFSA can help provide low-interest loans and grants, which is immensely useful for those trying to pay for their doctoral studies.
- Weigh your options and do the research. You'll need to know for sure whether an additional degree will increase your earning potential more than a bachelor's or master's degree in a similar field would.
- Try to obtain a scholarship, fellowship or grant. Studying at a PhD level is costly, and you may not be able to predict how many years it will take you to complete it.
- Be prepared for competition when entering any management position in business. While careers in general business continue to expand in the United States, executive and top level management positions are actually shrinking. This means that a graduate may have to enter the work force at a lower position and prove themselves first.
- Talk to current PhD candidates and graduates about course load, time management, what admission materials they submitted, and so on. This is the best way to learn if the program is right for you.