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Earning a Ph.D. in Business generally takes about four years. Students can find these programs at 4-year universities. The first two years of study usually include completion of core courses such as organizational theory, microeconomics and qualitative and quantitative research methods.
Yes, a PhD is a doctorate. You've got to decide if you want to do a PhD or a PsyD, because you don't need to both - find out which one is more respected in your field. Science PhDs take about 10 years on average, including your bachelors degree. The bachelors degree comes first (4 years), then a masters (2 years) and then the PhD / PsyD (about another 4, depends on the person and the program). I've always heard U Mich is a fantastic psychology school.