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&lt;p&gt;&lt;img style=&quot;float: left;&quot; src=&quot;http://www.vault.com/VCM/blogs/MBA_Obsolete.png&quot; alt=&quot;&quot; width=&quot;222&quot; height=&quot;113&quot;&gt;For the MBA to avoid obsolescence, business schools must accept that in our world of &amp;ldquo;interdependence, variety and flux,&amp;rdquo; leaders must cultivate a kind of tacit knowledge, bridging knowledge and action, which is earned through real-life, on-the-job training, not textbooks, and which, incidentally, leads to the development of those more elusive and desirable qualities of leadership like courage, prudence, integrity and responsibility, says Martha Maznevski, director of the MBA program at IMD, which recently redesigned its MBA program.&lt;/p&gt;&lt;p&gt;[IMD]&lt;/p&gt;

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