They are necessary yes, so is cleaning, your systemadministration etc.
You are not learning how to run a business successfully by learning that.
But the big difference is that to be good at business you have to do business. You can't look it up in a book. With engineering your more or less can.
So unless you are a hired gun working inside a proven industry for a company the MBA is pretty much worthless. The engineer on the other hand seldom is.