Following the technological disruptions we have witnessed, there has been a marked increase in the number of PhDs in India and across the world. In order to uncover the theoretical understanding of emerging technologies and its impact, India has witnessed a 60% increase in the number of PhD learners over the last 5 years, according to the All-India Survey on Higher Education. Similarly, in the United States, compared to the 41,369 doctorates awarded in 2000, there was a 33% increase in 2020 wherein 55,283 doctorates were granted. Therefore, the aim to contribute to the knowledge economy is high, but for now it is focused solely on theoretical research.
With evolved technologies being deployed across the world, the need for applied research has witnessed a sharp incline, which can help solve real-time business problems and identify the best solution to mitigate the impact. This demand is witnessing an increase due to the use of emerging tech across businesses, therefore resulting in a dire need for ‘Innovation officers’ and senior leaders equipped with a Doctorate of Business Administration (DBA) degree to address evolving business challenges.
Therefore, as enrolment in Ph.D. programs continues to rise and contribute to the theoretical knowledge base, there is now a need to hone one’s applied research skills while improving domain expertise, to navigate the dynamics of the business world. Therefore, candidates pursuing Professional Doctorate programs now have to be at the forefront of this quest, due to their lateral and thinking capability backed by applied research skills.
The need for real-time innovation to solve business challenges
The need for professionals with DBA programs is solely based on the level of innovation and leadership capabilities they can offer their employer. This is especially critical when business issues arise. This is when the leaders seek out out-of-the-box ideas backed by research, to ensure that their solution approach is full proof. Therefore, with so many NextGen technologies being deployed at such a rapid pace across organisations, the need for an ‘Innovation Chief’ is becoming the apparent need of the hour, with companies like Oracle and IBM, on the hunt for such candidates. Therefore, the assumption that a DBA degree can make one overqualified does not hold true in the current climate of tech evolution. In fact, with Indian IT companies forming special task forces by hiring employees, to work as a part of their Metaverse teams, leaders with DBA programs will soon be required to improve the structure and behaviour of the teams through management and psychological theories and principles, to drive up efficiency.
Imbibe the innovation mindset across the organisation, through Innovation officers An advanced degree in business administration (DBA) is a demanding and challenging learning experience that will make learners think about evolving business challenges and dive deeper into the various methods of problem solving and leadership.
Professionals equipped with a DBA degree, can think laterally and creatively and they can apply their knowledge to real world business challenges through concrete theories. Such leaders are lifelong learners, who tend to seek out new knowledge and abilities, to help their organisations flourish. With new challenges on the horizon brought on by newer technologies, an Innovation officer will use research-based solutions to solve challenges and drive business objectives. Hence, hiring such business executives will help organisations learn to deal with the difficulties and opportunities presented by new technologies.
Move from Middle management to Senior leaders after a DBA
Learners who complete the DBA program are better prepared to make strategic decisions based on their research output, which makes their outcomes error-free. They exhibit a high level of ethical standards when it comes to research and they facilitate their superior analytical and practical capabilities to drive positive decision making for organisations.
Therefore, their knowledge base and innovation lead to professional progress, helping them stand out from the normal MBA and Master’s degree holders. DBA holders have the capability to contribute to an organisation’s success by creating patents, contributing to journals and drive true thought leadership by unearthing the way to solve business challenges for the overall sector, through research. Therefore, they are typically hired for C-suite roles, across industries.
Why should you pursue your DBA course online? Online DBA degree programs come at a lesser cost, while allowing students to learn at their pace. Furthermore, the flexibility of an online course offers higher return on investment (ROI), since one can get a degree from leading international universities, without the fear of loss of pay. Working professionals who want to move into the C-suite and senior management positions, while becoming specialists in their chosen field should opt for an online DBA course, specifically created for this purpose. Online EdTech companies offer learners the chance to interact with their peers, offer one-on-one thesis guidance, while they study from the comfort of their homes.
Therefore, given the evolution across technology, organisations need a fresh perspective from professionals with a DBA program to retain competitive edge in the times to come. Candidates equipped with lateral and creative thinking, leadership skills for the evolving times and a keen eye for research and data backed decision making are the need of the hour, given the flux in the current business landscape, where things change overnight. The tag of ‘overqualification’ no longer applies to a DBA program since it has transcended to become the need of the hour.