Confusedstudent
A award winning professor, Freek Vermeulen, at London Business School published a book, Business Exposed. Here the hardcore truths about the business world were revealed. I read this book a few years back but I do recall it being mentioned somewhere that people who cannot put up with these truths would go into academia (get a PhD perhaps) and teach business instead.
This book was one of the best business books I have read just because of the 'realness', the insights, the wisdom, etc. This book really gets under the airbrushed image of business. Some topics discussed are the success trap, good guys vs. bad, making decisions that are far- fetched (not that realistic).
The people who decide to go into academia for business, perhaps they do not have the skills, or simply do not want to deal with these major business challenges hence teaching is the better option? Because there is more structure with teaching business?
There was a point where I considered getting a PhD in business and who knows maybe I do in the future.
Hello
ConfusedstudentFirst of all, don't be confused.
Idea presented in book, that people who teach cannot success in business and vice versa is simply a nonsense.
Certainly there will be some people who feel better in one world or another, however academia is full of people with proven business success.
Most of them can go back and forth between academia and business industry during their career, or purse both simultaneously, at least for some time.
Many of world best investors have PhD either in Finance or Mathematics (and many other fields) and did teach.
I will not mention now names, that would be your homework.
PhD degree is research degree, it serves for the purpose of becoming a professor and/or doing research for various institutions.
It is common today that after PhD university is NOT the only option you have.
You also didn't account that in order to teach and become a professor lucrative goals are not the primary motive.
Intellectual stimulation as reward cannot be sum up necessary in money terms.
To pursue MBA or MBA+PhD is only your decision to made.
I personally respect much more people with PhD than MBA.
Good Luck with making a decision