In an increasingly complex economy companies demand strong leadership. To meet these needs a PhD in Business Administration is becoming increasingly common option for graduate students. Those who hold a master's degree in topics outside of business are increasingly pursuing doctorate degrees in business study. The field of medical and health services, for example, will have medical practitioners who hold a master's degree in their field contemplate a business PhD. This is due to the fact that almost every industry has a need for skilled administration. Obtaining a Doctor of Business or PhD forces graduates to earn a reputation for themselves. These relationships often lead to employment opportunities in future careers.
The two doctor degrees in business administration are a Doctor of Business Administration (DBA) and a PhD in Business Administration. Normally a doctor takes up to four years to complete. A DBA is considered equal to a PhD but it is based more on practical concerns rather than theory. A DBA is aimed towards professionals who work in the corporate world. Normally a DBA also includes a journal publication based on the solution to a business problem and a dissertation. A DBA graduate is more likely to apply existing theory to business problems. The title of a DBA is granted when all coursework, written research and testing are approved by the accredited institution. DBA candidates have several possible specializations including management science, economics and finance. A PhD, on the other hand, is an academic degree, which is designed to further business theory. Both degrees have added an emphasis to business quantitative methods and statistics.
After selecting the terminal degree that best suits a candidate's goals there are a few other factors, which should be considered. First, in order to be accepted for admission, a student typically must have an MBA or other master's degree. There is also usually a specified length of manager or supervisor experience needed prior to admission. Choosing the right school is an important aspect of planning for a doctor degree. The best doctor programs are with schools who have a strong hiring history in the candidate's preferred industry. As part of a plan, the needed prerequisites of a program should be reviewed. At this point, for schools, which are still acceptable to the prospective student, a candidate can contact a school directly to request more information. Ultimately the best PhD in Business Administration or DBA program available will follow the career goals of the potential student. One way of choosing a program is by involving a cost benefit analysis. Costs include tuition, extras like textbooks and software and either commuting costs for on-campus study or technology expenses for off-campus study. Financial assistance may come from many sources including financial aid, scholarships and employer assistance.