Today's Financial Times has an article by Michael Skapinker discussing Henry Mintzberg's latest book Managers Not MBAs : A Hard Look at the Soft Practice of Managing and Management Development:
"All MBA graduates should have skulls and crossbones stamped on their foreheads, along with warnings that they are not fit to manage. They are the products of schools that specialise in teaching the wrong things to the wrong people. Few MBA students have ever run anything and you cannot teach them to do so in a classroom.
So says Henry Mintzberg, the veteran management writer and long-time scourge of the Masters of Business Administration degree. His views usually attract a hysterical response from MBAs - and who can blame them? They have spent more than $120,000 on their MBAs and here is Prof Mintzberg declaring them worthless".
Having met a few MBA's (myself not included, naturally) I'm inclined to agree :)