The modern world is all about professionalism. Most of the youngsters opt to pursue their careers in different fields in a very early age. Such children remain focussed in their academic careers and get education which can help them find employment in the relevant field. This is the reason why, most universities these days offer specialised educational degrees.
An individual, who studies business administration, gets all the required information and knowledge about the subject before entering the field. The curriculum taught in universities, colleges and schools has evolved over the previous centuries, which also includes experiences and observations of the intellectuals. The knowledge is transferred from one generation to the other through a systematic form of education.
Proper schooling is considered to a prerequisite to success these days and in many countries, primary education is mandatory for each and every child. Individuals, who have not received any kind of formal education, are taken as a liability in many societies. This is the reason why literacy rate in the developed countries is close to hundred percent.
No one can deny the importance of education, but it remains merely a theory without practical experience. Having completed the formal education, you would be done with just half of the job because working in the field teaches you a number of different lessons. At times, you may have read different things during your academic career but the ground reality in the field would be completely opposite. Therefore, experience is considered to be invaluable by many organizations.
In the third world countries, where most families cannot afford to send their children to educational institutes, people learn a trait through experience only, earning a living for themselves and their families.