Yes I agree with your finidings about people pas out from B-schools. I had personal experience of working with 3 IIM business school MBAs. All have behaved exactly in similar maner you have rfered in your article. All are more and more influenced by theoritical ananlysis rhan the practical experoence in their job and ultimately tend to take either wrong descisons or dalayed descisons. Most of them get stuck with what you termed "paralysis of analysis".
Since when did companies start assuming that B-school graduates are properties of the corporate world and that B-schools are manager churning machines?..The most important role of a B-school is to bring in new ideas that were never thought of earlier.
You would never see new ways of evaluating business performance had it not been for the new ideas brought in by B-schools across the world.And this would not have been possible if the B-school faculty happened to be from the industry.Most B-school faculty have Phds which give them total ownership of the subject in its purest form.This is what results in new ways of doing business.
If B-schools were to churn out managers who are tailor-made to execute your current way of doing business,you would never see any innovation.
There have been many articles on Rediff,where different "CEO's" have rapped B-School education on different aspects.One cannot help,but get a feeling that B-School education is worth nothing in practice.Does this apply only to Indian Management education or everywhere?Is Management more about inherent skills of a person?Is it something that cannot be learnt if "YOU DONT HAVE IT IN YOU?!!".