This article will explain how you can earn an online Ph.D. in business, and all of the information that you need to make a decision about one of these postgraduate programs. We also will give you helpful information about good Ph.D. in business programs that are worth considering.
What Is an Online Ph.D. in Business?
An online Ph.D. in business will provide experienced business professionals with advanced coursework in making corporate business decisions, how to use personnel and resources in the most effective manner, and other highly specialized business management topics.
A Ph.D. in business is the terminal degree for the business administration field. This doctoral program will focus largely on the theory and analysis of business management and advanced business operations strategies.
One of the advantages of earning a doctoral degree in business is the opportunity to specialize in particular on the specialization that mosts interests you. Common concentrations are financial management, marketing, operations and management consulting. You will have a high degree of freedom to focus your studies on a particular area of business, but you will need to perform at a very high level in your written and oral examinations to graduate on time.
Ph.D. in business students will obtain a very detailed and practical level of knowledge regarding critical facets of the global economy. You also will be able to hone your communication and leadership skills that are expected of business leaders with a doctoral degree. Most students in a doctorate in business program will already have experience with major business concepts and specializations, including accounting, commerce and finance. Your doctoral program will allow you to pursue individual and independent research under the guidance of expert faculty.
With a doctoral degree in business, you can pursue a variety of exciting leadership roles in business and education. Many with a master’s or a doctorate in business or business administration aspire to be a top executive in a business or corporation.
As a senior executive in a company, you will be responsible for establishing and carrying out the goals of the organization. You also will be in charge of negotiating or approving contracts and agreements, and identifying the best places to cut costs and to boost performance, policies and initiatives.
Note that your exact roles and responsibilities in a company will depend upon the size of the organization. If it is a small company of fewer than 100 people, you could be in charge of hiring, purchasing, quality control and daily supervisory roles. But in a big company, you might focus more on formulating new company policies and thinking strategically. The most common types of top executives are:
- Chief executive officer: This could be known as CEO, managing director or president. You will provide the direction for the corporation. Typically a CEO will manage operations, implement and formulate vital company policies, and ensure that company goals are reached. You will usually answer to a board of directors for company performance.
- Chief operating officer: Known as the COO, this executive will oversee various other company executives who are in charge of other departments, including sales and human resources. They also will handle the guidelines and policies of the company on a daily basis.
- Operations managers: They will oversee various operations of a company that are too large and diverse to be under the auspices of a single department. They may be in charge of managing operations, planning material and and human resource use and other responsibilities.
- School superintendent: Some Ph.D. in business holders may become a school superintendent, which is effectively the CEO of a school district.
Why Earn an Online Ph.D. in Business?
Many business professionals want to earn their doctoral degree in business because this advanced degree will afford them access to senior executive positions.
With the economy performing quite strongly, new companies are being created and current ones are expanding. This will lead to higher demand for top company executives. This is being seen in government statistics, as the Bureau of Labor Statistics states that job growth for all executives will increase by 6% by 2024.
There is speculation in the US government that regulatory and tax reform is on the horizon. If this comes true, there is a strong chance that more businesses will be created and expand. This will drive more demand for top executives who have an advanced business degree. There will be strong competition for the most lucrative top executive positions, but with a doctoral business degree, you will be able to compete.
The median salary for top executives is $175,000 per year, and the top 10% earn more than $187,000 per year. Also note that total compensation for these business professionals often includes stock options and various performance bonuses.
Choosing Your Online Ph.D. in Business Path
Many business professionals with a high level of experience have very busy professional lives. This is why earning an online Ph.D. is an attractive option for many of them. An online degree will allow you to complete your degree largely from your home and continue to work full time.
Online Degree Options
A highly experienced business professional may want to consider the Ph.D. in Business online from Northcentral University. This program will provide you with the opportunity to earn your degree entirely online and continue to work part or full time.
You will be trained to focus on advanced leadership strategies for the 21st century and to pursue your own unique business research interests and goals. This program has a strong reputation for teaching business professionals to handle some of the biggest challenges in the global economy today.
At the end of this four year, accredited business program, you will have the chance to enhance the business management field with a year long dissertation on a subject that suits your business interests and experience.
This program is known throughout the country for providing excellent, online high level business training for business professionals who want to work in executive positions in most industries. You will be focused on leadership strategies that are based upon research, and you will be able to refine your business knowledge and to become an expert in emerging technologies.
This program provides you the opportunity to choose from many specializations, including:
- Computer science
- Health care administration
- Criminal justice
- Financial management
- Human resources
- International business
- Engineering and technology
- Public administration
- Organizational leadership
Required core courses for all specializations include:
- Business Communication
- Business Environment
- Business Financial Systems
- Business Leadership and Strategy
- Business Research Design and Methodology
- Quantitative Business Research and Design
- Business Statistics
Accreditation is an important factor in choosing an online doctoral program. A university program with a full accreditation from a respected body means that the program will teach you what you need to succeed in that field.
For the business field, the Association to Advance Collegiate Schools of Business or AACSB is the most respected accreditation body.
Highly experienced business professionals who want to become corporate leaders in their organization and industry often choose to earn their Ph.D. in business. With the expanding economy, earning this advanced degree will put you in excellent position to be chosen for a highly paid leadership role in your industry.