Is Management Education essential for Managing Business?

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Management Education is important, because every successful business man in the country should have managed both the product & people in an efficient manner. Some of them had greater skills in management without getting management education.  At the same time there are those who had got first management education and then successfully lead the business. This means managing business successfully can be possible in two ways i.e. Management by Learning Management Knowledge  or  Management by Learning from doing mistakes.

Which one is better? and What is your view point on this?

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Management by Learning Management Knowledge gives a competitive advantage over the others. As the cost of Management education is determinable but the cost of doing mistakes for learning management is endless. Which one is affordable to the concern will determine its future.

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