What Is the empirical research data available on the comparative performance of MBA/PGDM heads, those with and those without managerial experience in industry?
Please let me know if the following reference/site is helpful to you:
Myth of the Well-Educated Manager - Harvard Business Review
https://hbr.org/1971/01/myth-of-the-well-educated-managerManagers are not taught in formal education programs what they most need to ... earn almost a third more, on the average, than men who hold MBA degrees from ... of those “top-third” graduates from the better-known colleges and universities are ... False notions about academic achievement have led a number of industrial ...
Honestly both should be involved in the programme. The Academician to set the stage by providing the theoretical background and links to the industry while A manager from the corporate sector unfolds the practicality within the corporate world.
Like the dynamics in today's business environment, a person responsible for MBA program has to dynamic too. Even though the needs and demands in an educational program can be framed with a structure, business education requires more dynamism in comparison to many others.