Excerpt from 'Plain Talk: Lessons from a Business Maverick' by Kenneth Iverson, credited with transforming Nucor Steel from a nearly bankrupt company in the 1960s into the largest and most successful steelmaker in the United States.
'The notion of an internship for managers has a precedent in medical education, of course. Doctors intern for a number of years before they are turned loose on the world. There ought to be a comparable transitional step in completing the requirements for an MBA.
'Further, that transition should focus on providing the management candidate hands-on experience. Any MBA who ventures into business with the intent of managing people should first develop his or her skills under the watchful guidance of an experienced manager.
'The fact is, few business school professors have ever managed anything, and their lack of hands-on experience shows in their students. Medical school faculties, in contrast, are comprised of the best and most respected practicing physicians.'
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