It is common when academics do Master and Doctorate degrees to advance their careers in teaching or research. Also, many practitioners do MBAs to improve their business and management knowledge. However, it is pretty rare when a seasoned practitioner with a full-time job and many years in the industry decides to do a Doctorate degree. As an entrepreneur, a manager or a CEO looking for further career success, do you really need a Doctorate under your belt?
The answer is no. PhDs or DBAs are not essential for success in the business world. Most if not all of the world’s greatest CEOs, ruthless sales executives and transformational entrepreneurs do not have Doctorate degrees. However, a PhD or a DBA can be essential for “you” as it was for me. Unlike MBAs, a Doctorate degree is not a “one size fits all” sort of thing. If you are a practitioner considering to pursue a Doctorate degree, you must have your own motives that make it right for you. Think about your own personality, your way of doing business and your lifestyle.
When I completed my Bachelor’s degree in Architectural Engineering back in 1998, I never thought or intended to open a textbook again. My commitment not to pursue further education lasted 10 years after graduation. By that time, I had already changed my career and I was a manager in a marketing department having no academic knowledge of marketing. Like all good non-business educated practitioners, an MBA seemed like the logical choice then. I found that an MBA is a must-have, especially for non-business graduates, to understand basic business concepts, engage in discussions with different function heads in management meetings, and manage people and projects. Also, it seemed like everyone else has or is in the process of getting an MBA, so why not me?
Once I completed my MBA in 2010, I decided to do a PhD. I had two main personal motives to make that decision… [to be continued]