'You Can't Create a Leader in a Classroom.'

Smash the silos. Most MBA programs still teach through the prism of specific subjects such as finance or marketing. But that's no way to learn, according to Mintzberg. "The MBA is fine for training," he says. "But the concept of teaching specific skills in finance or in marketing does not help with the real-life decisions that people make in the business world each and every day." The IMPM, in contrast, uses holistic mind-sets such as "reflective" and "analytic" to connect the dots. And since many of the IMPM students are now in general-management roles, that's where they should stay. Says Mintzberg: "Why would you want to push them back into the silos?"

Be ready to abandon the script. In the IMPM, each module is redesigned at the end of the preceding one to bring in some of the most current problems and issues faced by the students. If everyone is struggling with e-commerce, for example, the program is flexible enough to spend extra time in that area and to eliminate a workshop that is less than enthralling to the students. While there is always a blueprint, it is up to the students to make their education relate to their jobs, and the IMPM professors adjust where necessary.