Although you may have worked your way up the ranks until you advanced to a position in business administration, that doesn’t need to be the top rung of the ladder! In fact, it often isn’t. There are many levels within business administration and unless you are the CEO of a global corporation, you probably haven’t gone as far up the ladder as you possibly could with something as logical as a Doctor of Business Administration degree.
1. Credentials Really Can Be Everything!
Do you ever wonder why there is so much press given to the idea that a degree doesn’t mean anything anymore? Perhaps it became a trendy catchphrase among those who didn’t want to put that extra effort into getting a degree that people respect. It could also have financial underpinnings. Don’t let anyone tell you that a Doctor of Business Administration degree from an internationally respected name like Aston University isn’t worth the effort. Working at the highest levels of business administration is often not possible unless you have that post-graduate degree.
2. Advanced Research Skills Necessary to the Job
Even if you have a team devoted to research and development, you will also need to be able to research and analyze Big Data as it relates to your company. While market research is a large part of data analysis, other areas of a company rely on a relevant statistical analysis. Being familiar with the technology needed to do the research to be able to analyze the cost-effectiveness of choosing one materials supplier over another is much of what your duties are all about. Yes, you may have a strong research and data analysis team but, in the end, all decisions are in your hands. It will probably be you who needs to sign off on things, so it is vital that you aren’t making blind decisions.
3. No Need to Leave Your Place of Employment
One of the reasons why today’s business administrators should enroll in a post-graduate program to earn that DBA is that there is no reason to leave a job that has room for growth within the company. While it is possible to take an extended sabbatical to study for a Doctor of Business Administration degree, it doesn’t make sense to lose forward momentum in a company you enjoy working for. With the availability of distance learning and a program that can extend out a few years, it makes sense to pursue that degree.
4. A Better and Broader Understanding of a Global Economy
Even if you are the owner or director of a company, you may not have the business acumen to fully understand that even businesses operating on a local level are reliant on a global economy. Consider for just a moment what happens when one country’s economy bottoms out. It can, and often does, have the domino effect toppling one country’s economy after the next. Although only peripherally related to the economy, we have seen what Covid-19 did to the economy of all, if not most nations around the world. While it started in China and impacted that massive economy first, downturns trickled across the globe and many nations struggle as a result to this day. On a more recent event, consider what Russia’s invasion and military actions might be doing to the economies of democracies around the world. With a DBA you will have a greater understanding of how seemingly unrelated economies can affect your country, and your business if you aren’t equipped to read the signs and make forward-facing decisions. Studying for a DBA gives you the tools necessary to assess just what these things will mean to the future of your business.
5. Significantly Higher Earning Potential
Lest we forget one of the key reasons why anyone is interested in advancing their career, it usually involves greater earning potential. That CEO mentioned above certainly makes a higher salary than the administrator of HR earns and the difference in wages is almost always the result of experience, knowledge, and credentials. This is why so many professionals have climbed the corporate ladder. They not only gained knowledge and experience but respect within their industry as well.
6. Developing Sound Leadership Skills
Although you have probably often heard it said that there are born leaders, this isn’t exactly the truth much of the time. A good leader may have great people skills, but leadership isn’t about being friendly or socially respected. Sometimes a great leader is required to make the ‘hard calls’ and those rulings will do anything but ingratiate them with their employees. Sometimes it is even harder on the decision-maker than the team member being called out. Nonetheless, those leadership decisions must be made, and a DBA will give you the tools necessary to be strong.
7. A Greater Number of Career Opportunities
As of last, but not least, the reason, why you might want to pursue a DBA, is in terms of the doors that will open to you. There are greater opportunities for career advancement or even changing careers once you hold that Doctor of Business Administration degree. This is one degree that can pertain to any industry and so you may just find that along the way you would like to work in a different field or for a different employer. That DBA will almost always let you get your foot in the door, and at the very least, it will garner enough interest and respect to make it through to the initial interview.
If you study online for a DBA, you can often work at your own pace and if you want to complete your studies in two years after earning that MBA, Masters’s in Business Administration, you can do so. If you want to stretch it out to four, you have that option as well. With the availability of student loans, corporate educational financing, scholarships, fellowships, and the internet, online graduate degree programs should be at the top of the list of any person seeking to take their career to the very top.
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