ABSTRACT
Various reasons have been advanced to explain why there is the shortage of Ph.D. candidates knocking on business school doors: Ph.D. programmes (1) take too long (3-5 years); (2) are not flexible (full-time attendance is required, which does not permit the candidate to work); (3) are too costly when the opportunity cost to the candidate is taken into consideration. This cost is incurred when the candidate chooses a Ph.D. programme instead of working in industry after an MBA degree; (4) are too theoretical and thus do not address the current needs of business; and (5) still require that knowledge is transferred from mentor to candidate in a low student-mentor ratio environment, which is a very costly process for universities. The culprit is most likely a combination of all factors proposed. However, the conclusion is uniform. These factors, and others, have reduced Ph.D. candidate supplies to critically low levels and business schools have to find alternatives to increase inflows into their doctoral programmes. Otherwise, the delivery and the quality of management education will be at risk.
