I am graduating with my bachelor's in Management. I had a conversation with a friend the other day (who is marketing and management), and we decided we really didn't get much. Unlike, say, someone with a degree in accounting, we aren't immediately going to become managers with our degree (whereas they can pretty much go right out, get certified, and start working as accountants). We know all the theories well enough, but we don't have any practical experience, and no one is going to hire a fresh college graduate as a manager if they know what's good for their company.
We're educated idiots.
Now, if my degree, along with my numerous activities, honors, and awards, manages to convince a company to pay me $20,000 more a year, starting salary, then I can tell you for sure what I got out of it. But I need to find a job first!
I get my foot in the door, and to a lesser degree, I learned about how to run small businesses. Perhaps I can focus better and look at the goals for a company as a whole than some. But working knowledge, I have none, and that seems to me to count for a lot more.
As for the second part, my class on entrepreneurship helped a lot; it was the only actual hands-on experience I really got. Other than that, my Spanish courses will probably help me down in Florida. Most of my other classes were straight learn/memorize/regurgitate.