This is the first time I've ever heard an mba as practice (vs a study of theory) Considering that this is the basic model of MBA programs, not to mention that

This is the first time I've ever heard an mba as practice (vs a study of theory) Considering that this is the basic model of MBA programs, not to mention that it's also the basic model of pretty much any professional graduate program in pretty much any field, I'm left wondering how this is the first time you've encountered it. A case study is not quite practice, more like a review I'd think. When you are reading, but not a project. Even if it's a project to make a decision based on historical conditions, students are doing exactly what they'd be doing if they were running the company or division, and in most cases they are or will be running those or similar companies and divisions making the same kinds of decisions in the same ways, which is the whole point. This is more like it During the course of working on the project it's really exactly the same as the above. Well, this will become a "real business" when it is actually running? I mean, till it runs this planning is as good as anyone else's? ... This is more in line with "practicing business" It's really no different. Look, her school is a top-tier business school and the business we are talking about aren't social web startups. When you are dealing with industries that require a large capital investment, it's often much harder to start and the consequences much worse when you fail. I've had to take more than 6 figures of investment for a web company and I've never needed to give up more than equity and sometimes some strategic guidance, whereas in other industries I might expect to be signing a personal guarantee, possibly even having an investor become an integral part of operations. So when we are talking about planning a business, we aren't talking about a web company with a one page business plan.