What is the Difference Between a Doctor of Management and a Ph.D?
The business world is rapidly evolving. Driven by innovative technology, cultural diversity, and a global mindset, business needs leaders who are armed with the latest theories and methods for applying them to real-world challenges.
Smart executives are aware of this. Knowledge may have always been power, but that has never been truer than it is in the current economic environment. That’s why many top managers and C-suite holders decide to pursue a doctorate to elevate their skills and expand their knowledge. They often face a choice of earning a Ph.D. or a Doctor of Management degree, without a clear picture as to how each degree can benefit a professional in business and what the main differences are. Following is a break down that may help you decide which path is right for you.
A Matter of Focus
Earning either a Ph.D. or a Doctor of Management degree are impressive accomplishments. Both degree programs produce graduates who have expertise in business theory.
That is where the two programs typically diverge. In a Ph.D. program, the emphasis is on theory and research. Many graduates end up working in academia, putting their knowledge to use in research projects that advance business theories and as full-time professors teaching the next generation of business students.
A Doctor of Management places more emphasis on taking theories and developing them into real-world strategies that solve current challenges.
Attracting both younger students and more established students looking for a change, most Ph.D. students aim to earn a job in academia at some point in their careers, although there are some exceptions.
A Doctor of Management degree typically draws students who are professionals at high levels of an organization – or those who wish to reach those high levels – who already have earned an MBA. They are looking for new intellectual challenges, as well as more theoretical knowledge to apply to their professional career.
In many cases, a Doctor of Management student is someone who has already achieved a great deal of success in the business world. But there are also cases when a Doctor of Management may be the most appropriate path for those even in academia, especially academic professionals in management and administration.
What You’ll Learn in a Doctor of Management Program
Degree programs vary, but most Doctor of Management programs are designed for senior executives and those who hold top management positions. Using the Doctor of Management program from Touro University Worldwide as a guide, some of what you’ll learn includes:
- Advanced theoretical analysis and research
- The skills necessary to apply these theories to a job/career
- The ability to understand and assess research reports in their specific professional area
- Learning to apply a scholar-practitioner model to research
- Using an evidence-based approach to problem-solving
- An understanding of how business, organizational behavior, and management systems applied principles can support an evidence-based approach to challenges
Touro’s 100% online courses also give working managers the flexibility to plan their academic schedule around a busy professional life, with the ability to complete a degree at their own pace.
A Doctor of Management program is the perfect fit for seasoned professionals who want to take their careers to the highest level possible, as well as apply what they learn to their current real-world business challenges.
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