Corporate management, business management, how to be a good and effective manager (including managing people). And business skills as well as mindset.

Management is not an "absolute" qualification.
The syllabus itself its pretty much about how you apply your knowledge based on what you learn. In my business paper, my lecturer (also a MBA professor) told me this. You can have zero knowledge about management but you can still get through it with your own reasoning & experience.
Most of it are real life case studies so practical experience can also be used as opposed to academic theory.
Most of the theory also comes from research by professors like Henry Fayol, Mintzberg, Kotler, Johnson & Scholes,.....

I think MBA is very relevant for those :
1) Already working
2) Already have a core / specialised degree (which will create a synergy with MBA)
3) Are being / going to be / have been promoted into managerial position

Fresh grads should never apply for MBA unless they are going to setup their own biz or their parent practically owns the company (family based biz).

learn by book and no need to go for MBA? so what you mean is that MBA is useless?

people here talking about roi etc dont know what they talking about

MBA is useful once u hit 30's. top executives all minimum MBA la. how they get is beside the point. The point is MBA is required for a manager's position especially days like today when u throw a stone and hit a stranger by luck, most probably he has a degree.

But i agree, if u are fresh, u are wasting ur time. Best to get it after 4-5 years of work experience. Im getting mine now. i dont want to be tied out with studies when im married lol!

so its simple, if u want to do it, do it! dont think why or how..coz one day, when ur boss is comparing you to another for a promotion, guess who's gonna get it..the one with mba...but offcourse u must have a good name and good worker la. haha