Peter Drucker, who is considered the father of modern management, strongly encourages continuous learning of executive management. He mentiones two major advantages in this regard, namely the further development of strategic thinking, and refining of decision-making skills.
Michael Porter, the leader on thinking around competitive strategies of organisations, professed that effective management and analytical skills are required to compete in the marketplace. Porter further said that these skills can only be developed through rigorous academic learning.
The author of “Good to Great,” Jim Collins supported Porter and went further by stating that further education will result in differentiation amongst successful leaders.
Traditionally, universities only offered doctorate programmes in person.
This has shifted dramatically over the last decade.
The illustration on the left, published by Lightcast Analytics in 2023, in line with a study by Franklin University, shows that there was a 237% increase in online offered degrees in the period from 2012 – 2022.
During this same period, non-distance degreed being offered only grew by 6%.
The same study showed that the interest in an online degree in Business Administration grew by 243% in the same period.
Executives completing an Online DBA at Westford
“A leader is one who knows the way, goes the way, and shows the way”, (John Maxwell). This expectation from a leader comes from skills that need to be developed.
Cultural Diversity
The DBA is an ideal and most appropriate qualification where executive leaders further enhance their leadership skills. Not only are leadership skills enhanced, but the online DBA offered by Westford also provides a unique network opportunity to the executives. Executives from different industries and all over the world are conducting research together. This provides an opportunity, through active participation, to co-create knowledge and develop solutions for real world business challenges and problems. This results in a powerful network of peers.
A global outlook with cross-cultural competence is developed. A major trend and challenge to executive leaders is managing diversity. The major advantage of executives in this regard ins the development of cultural intelligence. Understanding this and leading this cultural diversity to achieve a competitive advantage.
Performance Enhancement
The European Financial Management published an article in May of 2021 which depicts the results of a study on the impact of a doctorate degree done by CEOs on the performance of a company.
The study shows that companies performed on average 3.03% better after completing a doctorate degree by the executive management.
Performance increase of 2,5& were achieved when the executive completed an online Doctorate qualification.
Enhanced Influence
Emotional intelligence is particularly important for executives to effectively lead an organisation. Emotional intelligence is to understand one’s own emotions and manage these is a positive way to influence other people. The basic definition of leadership is the ability to influence the behaviour of others. This emotional intelligence is enhanced by the DBA course for business leaders and results in the ability to communicate effectively and overcome challenges. It creates an understanding of the required drive, values, and goals from oneself and how this impact other people. All these are characteristics required by executives to lead effectively and efficiently.
Change Management
One of the guaranteed constants in business is, change. The Makro business environment changes all the time with new political administrations coming into power and the ever-changing impact thereof on the economical climate put pressure on companies all over the globe. Executive leadership is required to get through these challenging times.
The DBA provides executives with tools to navigate these challenges brought about by change. Contemporary management aspects such as Artificial Intelligence, Block-chain, strategy, amongst others are research and real-world solutions are developed to deal with change. A culture of innovation results that enables the executives to developing cutting-edge solutions to advance competitive advantage for their organisations. The fostering of a culture of innovation is established amongst the executives that drives transformation in their respective companies.
Strategic Thinking
Evidence-based management forms the foundation of the DBA qualification. This further enhances the executive to use this in the business environment. The focus is on data-driven decision making. Frameworks are examined, critically analised and tailored through data collection, concept formation and concept alternative as contingencies and then implemented.
Critical thinking skills, developed, lead to dealing and solving complex business problems. This is aligned with the innovation approach with a culture of agility to continuously maintain a competitive advantage.
To do a DBA, or Not to do a DBA. That is the Question
– It is evident that an executive that completed a DBA qualification is in a much better position to succeed that those without.
