Most of the companies are doing primarily "bug fixes", "maintenance" and other incremental feature development. All that requires from management stand point is good knowledge of Microsoft Project or equivalent tools and some common sense.
The skillset that people acquire while doing MBA are so much more and I don't seem to find any use for anybody in day-to-day IT company life. My belief is that many of the phases of the product development cycle that may require those skills, we do not participate in at all.
Most of the companies that I have interacted with can't even do costing and it does not hurt them at all.
What say you?