I don't think you're disagreeing with what the authors are saying.
They are not suggesting that the money comes from the recent MBA grad. They're suggesting a typical private equity approach where new company debt and outside money are used to buy out the current owners. Then cash flow repays debt, investors, then finally the person who put the deal together who will earn 20% of profits going forward.
This type of management (as you said, running an existing company instead of starting one from scratch) seems exactly like what an MBA prepares someone for, much more than it prepares them to launch new ventures.
They are not suggesting that the money comes from the recent MBA grad. They're suggesting a typical private equity approach where new company debt and outside money are used to buy out the current owners. Then cash flow repays debt, investors, then finally the person who put the deal together who will earn 20% of profits going forward.
This type of management (as you said, running an existing company instead of starting one from scratch) seems exactly like what an MBA prepares someone for, much more than it prepares them to launch new ventures.