I like perfectly cut salads. My mother used to cut flawless thin slices of fruits and vegetables, all slices of similar width. Many of my relatives were in awe of the skill. I tried many times to do the same but was never able to, until recently. I discovered a sure shot way to cut perfect slices even if I don’t have the skill level of my mother. Believe it or not I discovered that secret in a course in Statistics.
Terribly bored in my IT job, I was considering getting a PhD and move to teaching. But a full time PhD is too much of a commitment. When I talked to a few people in industry, they advised getting a part time PhD and not leaving the job. A part time PhD will give the best of both worlds! That sounded like a great idea. But is it really?
Why do business schools offer PhD programs?
The purpose of PhD program is to produce researchers who expand scientific knowledge. The hope is that with good research, both the researcher and the alma mater will become famous. Also, a school’s responsibility is not limited to disseminating old knowledge. Updating knowledge base is another of its responsibility, especially if it wants to be a pioneer. That will happen when a continuous pool of researchers enter the researcher community. Many business schools make an investment in research. They do this by
- Hiring researchers
- Providing them incentives and a conducive environment to do academic research
- By producing research scholars (with PhD programs)