Business schools transforming students into research-backed innovators and changemakers

Data is king in a world exploding with information. And anyone seeking fortune and fulfilment in the world of business must know how to harness its full potential.

How? A tried and tested way to do this is a research-based business degree. These are programmes that train us in quantitative and qualitative research methods and tools to  contribute new knowledge of key disciplinary and interdisciplinary theory. Your understanding of subject areas within business will not get more in-depth and critical than this. Although your original research will ultimately be constrained to publications in academic journals and conferences, your breakthroughs and discoveries are essentially innovation and pioneering thought that drive a field forward. 

These are just the technical skills and achievements you’re set to gain with a research degree. As research is lengthy, laborious, and must sustain rigorous peer review from academic experts, students often master important soft skills, such as critical and creative thinking, communication, and self-management, along the way.

It’s this unique fusion of hard and soft skills that set graduates of research degrees apart in the business world. In fact, three-fourths (75%) of business leaders with PhDs attribute their research experience as a key factor in their professional success. 

Australia is home to several top-ranked universities that offer research-based postgraduate degrees in business. This article highlights four institutions leading the charge in developing the next generation of business leaders.

Guided by some of the world’s leading researchers, Deakin University’s researchers are ranked among the top 1% globally. Source: Deakin University

Deakin University

 Deakin University offers a life-changing educational experience for aspiring business leaders. With 50 years of experience and support for over 300,000 students, Victoria’s #1 university for overall student experience has industry-shaped courses that can launch your ultimate career.

One of them is the Master of Research (Business). Run by Deakin Business School in the Faculty of Business and Law, this two-year program with direct entry gives students a double edge thanks to its dual focus on rigorous academic research and applied research with real-world applications. In your first year, you undergo broad research training that covers the research thought process, research methods and the current state of theory in your chosen field or discipline — setting you up to translate research skills to real-world applications via a Research Proposal, and Research Dissertation/Thesis in your second year.

This unique structure prepares graduates to address complex business challenges and gives a head start to diverse career paths in academia, industry, government, and NGOs. As the MRes is a high-quality pathway to doctoral study, you can continue to the Faculty’s PhD programs. They’re small, personalised, highly supportive and with no shortage of funding, training and employability enhancement. The PhD in Business and Law stands out for another reason: it’s run by Deakin Business School and Deakin Law School, with world-class researchers, facilities and networks that will kick-start your research career.

Curtin’s Business and Law programmes are recognised for their significant contributions to research, exceptional learning experiences, and impressive graduate employment rates. Source: Curtin University

Curtin University

Curtin University often ranks within the top 1% of universities worldwide in the highly regarded Academic Ranking of World Universities (ARWU) 2023. Its graduates were rated as the best employees in Australia in the QILT Employer Satisfaction Survey (ESS). But what really draws business research aspirants to Curtin is this accolade: 95% of its research output was rated at or above world standard in the most recent Excellence in Research for Australia results.

Being widely recognised for applied research firmly focused on solving real-world problems, Curtin’s Master of Philosophy (Business and Management) is a top choice for many. The programme challenges students with a major research project that covers specialised management areas, including strategic management, international management, human resource management, and entrepreneurship. Through this experience, students not only gain a deep understanding of theoretical concepts but also learn to apply this knowledge in practical business contexts. What’s more, they learn to design effective research methods and present coherent arguments, both of which are vital to prepare them for their next steps in academia and  industry. 

But that’s not all. With a wealth of resources, including a network of over 165 approved supervisors, Curtin students have access to world-class expertise. This support system, coupled with Curtin’s strong industry partnerships, equips students to conduct impactful research that addresses real-world challenges.

The University of Queensland has over 1,500 researchers who collaborate to advance cutting-edge research and uphold the school’s reputation as a leader in the field. Source: University of Queensland

The University of Queensland has over 1,500 researchers who collaborate to advance cutting-edge research and uphold the school’s reputation as a leader in the field. Source: University of Queensland

University of Queensland (UQ)

Committed to solving national and global cultural, environmental, economic, and social challenges, University of Queensland prepares students to become the business leaders of tomorrow. Central to this mission is the Master of Philosophy (MPhil) programme.

In this globally recognised graduate research degree, students conduct in-depth research to develop a 40,000-word thesis and complete an oral examination. They are guided by a dedicated advisory team as they develop advanced knowledge and methodologies over 1.5 to two years. Much of their time at UQ is spent at its library, one of the country’s largest, with more than two million physical resources and over 116,800 journal subscriptions.

UQ’s Career Development Framework is designed to further help students hone and enhance their skills, ensuring they are well-prepared for their future careers. Many of the competencies needed for employment, such as critical thinking, project management, and analytical skills, are integral to the research process. The framework provides opportunities for students to refine these skills, preparing them for both their research and professional journeys.

Each year, around 500 MPhil students join UQ, exploring a diverse range of topics. Many of these candidates choose to continue their research by pursuing a PhD, which requires an 80,000-word thesis and complete an oral examination. It takes three to four years to complete full-time and you’ll need to find and contact a thesis supervisor before you apply.

University of Wollongong’s Faculty of Business and Law is committed to responsible and sustainable business practices. Source: University of Wollongong

University of Wollongong (UOW)

The University of Wollongong ranks second nationally and 16th globally in the Times Higher Education Young University Rankings. In the 2024 edition of the prestigious Times Higher Education (THE) Impact Rankings, which are benchmarked against the United Nation Sustainable Development Goals, UOW was joint 44th and ninth in Australia.

Its mission is to inspire globally-minded and socially responsible community members and leaders is evident in its diverse research programmes, which span from business and medical advancements to social impact initiatives. 

One example is the Master of Research (Business) programme, where students can specialise in a variety of areas such as accounting, economics, finance, management, operations, and marketing. Throughout their programme, students engage in a mix of coursework and research training, coming up with a detailed thesis that highlights their findings. This structure enhances critical thinking and advanced research skills and equips students to tackle complex business issues with confidence and creativity.

UOW’s continuous investment in research and infrastructure also ensures that students have all they need to contribute to their field. The Research Services Office plays a key role in this process, offering guidance on research funding, administration, ethics, and data management through training and development, a research support team and more. With all the support UOW provides, MRes students here are well-equipped to produce high-quality work that meets global standards and drives positive change.

*Some of the institutions featured in this article are commercial partners of Study International