Thats what I said You can get management skills only by working around the problems and your goals what B schools teach you is different tool which could be helpful for doing proper management. Here please dont confuse management with entrepreneurship, neither B schools profess that they can teach entrepreneurship nor they can. And please remember Another great fellow L N Mittal says he regrets not having a MBA, can we brush such statement aside and think that MBA has nothing to offer. And there is nothing to brag about IIM degree. But only that One who was smart enough to outsmart 99 % other candidates in a given CAT paper as well as personality is able to get the degree. Fair enough? Now let me quote, there are 100000 MBA being produced in india with fairly good clerical mind to crunch numbers and help in the economic activity started by entrepreneurs. Isn't that great? I think it is on any given day. And never mind some of these people do become entrepreneur and produce thousands of jobs. As far as the nation is concerned IIMs are good enough and bringing fame to the nation tho they need to be better. And as far as foreign placement is concerned I dont think there is anything bad in working in foreign companies as long as your loyalties do not contradict or collide with your loyalties of the nation. Lets not underestimate our entrepreneurs and business leaders.
