One of the major reasons for such criticisms is that the MBA programme gives too much of importance on the management theories while ignoring the need to develop the practical expertise. This leads to an imbalance in the supply and demand of proficient managers in the context of the real scenario, opposed to theoretical knowledge. Pfeffer & Fong (2002) questioned the lack of repositioning of the MBA model over the years and discussed that a number of interpersonal and social skills required in the current corporate world cannot be developed through an MBA programme. The authors stated that the fact that the individuals graduating from the most elite MBA programs realized the maximum salary packages is due to the fact that these individuals were chosen by their institutes on the foundation of their competences and qualifications which were way better than the average. Thus, it could be inferred that the personal characteristics of the candidates are more important than what is being taught in the MBA programme. This explanation is consistent with the verity that the curricula of the majority of the MBA programmes and the course books utilized are extremely analogous across business schools of different statures. Thus, it can be concluded that there are no significant distinctions in the knowledge being imparted in the different MBA programmes.
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