An MBA is a masters level degree focused on general business administration. It was always designed to train highly educated managers who understood clearly all aspects of how a business is run from the economics to business law to corporate finance. Very few individuals who do an MBA plan to become business owners or entrepreneurs. Instead, they plan to become better managers on the corporate ladder. So why would this author be surprised that most MBA's who do attempt to start a business would have the same failure or success rates as someone without an MBA?
Many MBA's will offer an option to concentrate in a specific topic, and there are MBA's which specifically focus on entrepreneurship. What is the success rate for those graduates when compared to the general population? That would be a more pertinent study and conclusions drawn.
I was already a entrepreneur and had started a small business in my early 20's. Getting an MBA in my 30's simply made sense. Even then, I concentrated in economics because that was my personal interest. If my business were to grow, then the education I got would be applicable in hiring specialists in various departments. I am not a lawyer, however, I understand enough business law to converse with one knowledgeably. I am not a finance manager, however, I can converse intelligently with one were the need to arise. I am not a marketing director, but I am quite capable of doing advertising and understand how to do a marketing campaign.
Not everyone is an innovator. In fact, most people in the business world are not. Even with my own business I am not really an 'innovator'. An MBA may assist someone with the specifics of running business if and only if they are truly an innovator, but no one should get an MBA believing it will make them an instant entrepreneur. If that is what they are now teaching, then it is bullshit and needs to stop. The author is an MBA himself, but what really is his point? Don't do an MBA if you want to run a business and be an innovator? Is he an innovator with his own business? Don't try and be an innovator if you already have an MBA? Yet, he has one? Is this just another article knocking higher education and encouraging people to believe that if they just think they are innovator then they will be?