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When you walk into a job interview, whether at a new company or in a dept of your current company where you are attempting to transfer or move up, they don't know you. Having an MBA tells the interviewer that you have been exposed to the basic concepts and "terms of art" that are customary in all of the key functions in a corporation which are part of the MBA accreditation requirements. These will also be critical if you go out on your own:

Finance: cash flow, the life-blood of business

Marketing: how to create and manage brands and demand

Cost accounting: What is your break-even volume?

Financial accounting: matching revenues and expenses

Business Law: UCC and contract law basics

Quantitative analysis for business, including statistics

I was continually amazed, as I completed the equivalent of an MBA in finance and a master of accounting degree all at night school, at how much of my course work I was able to apply directly to my day job in corporate financial analysis at a Fortune 50 company.

Most of the students were younger than I was and I ran circles around them and got the most out of the professor (who had a day job) by reading ahead and doing all assignment in advance of class. I got out of it what I put into it, which was a lot!

I survived 120,000 layoffs over 10 years at one company due, in part, to having both my CPA and masters degree and being able to draw on a wide range of skills to adapt to what was needed at the time.