One of the major issues is the concept that a person, with no specific experience of understanding of a certain industry can take a couple years of generic administration courses and get slapped into a VP role in any given company. This concept extends down to the worker bees in that the assumption is made that workers are fungible.
I think this is a fundamental flaw in current management theory that needs to be burned out of the entire field with extreme prejudice. It colors the entire field and I believe is the root cause of most of the major failures in the field.
The case of John Scully is a particularly notable example.
There are some schools that have toyed around with industry focused management degrees, a step in the right direction. You can learn how to manage a business in a particular kind of field...managing professional services in a software vertical is unbelievably different from managing the R&D division for a major cosmetics company, managing a small company is unbelievably different from managing in a megacorp.
I think also that MBAs simply shouldn't be available until a person has a few years of industry experience under their belt -- much like executive MBAs are today.
I think at the very least, because of the damage a shitty MBA student can do in the world, it should require industry specific professional certification that needs to be maintained and has an ethics bar like becoming a lawyer to self-censure particularly bad apples.
My point is that I am curious if it is possible to change things so such a person won't be bad for the company after being slapped into the role.