I am an engineer with more than ten years of experience. It is true that one doesn't need a MBA to run a business or whatever but if you extend it further..one even doesn't need education to become successful. there are lot of examples where people without a Bachelor degree have become successful/rich/happy..just because of their individual capacity and at the same time they were at the right place at right time. Education/Degrees can provide some assurance of good quality of life at minimum, but again, to reach maximum, one doesn't need anything other than hard work, risk taking ability, right time and right place.
Just because Dhirubhai, Bill Gates, Mittal don't have MBA that doesn't undermine the importance of professional qualifications. It is always demand and supply, otherwise why there are so many management institutes around the world. Why businesses want to hire MBAs, if they don't have the potential? I have worked for Reliance for 8 years, where Mukesh Ambani believes that he can make an engineer a MBA but not otherwise but still he has an army of MBAs working for him. Also RIL has tied up with IIM-B to train (Exec MBA)few engineers every year, who will be groomed for top level positions. Believe me, professional qualifications can't survive, if there is no demand for those candidates and looking at the current environment, there is a huge demand for MBAs.
One more thing, why MBAs(deserving candidates), get higher salary (Generally) than people in the ot
