The MBA is the Ambassador car of yore. Sturdy, reliable, yet any improvement to it has been mainly a case of tinkering at the margins. For decades, the MBA has been the go-to degree for students hoping to sit in the boardroom one day or to earn big money as consultants or investment bankers. There are plenty of MBAs even today who do exactly that. So why, then, is the business education industry sounding the alarm on the future?

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