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Assume two things and it makes more sense:

1. Harvard was aiming their students to jump straight into middle management (as it does today). 2. No ERP. No Excel spreadsheets. Mechanical calculation if you're lucky. Little communication if you're the manager in a small office. Lots of paper.

Just like today, middle managers need to know how to make business decisions quickly and correctly. This is how you get gains at the margin.