I wish to pursue my MBA in a premier business school. Is it better to go straight from my graduation (B.Tech in CS) or get some work experience and then go on with MBA?
If you want to get headhunted or an “MBA salary” after you graduate you need work experience, at least 5 years. However if you want to build your company or move up the ladder later you can do it now.
The MBA is in no way theoretical, you may get more out of it with previous work experience, but you will acquire “real” work experience through study by cases and simulations. You get to solve real world problems, and that gives you experience. Also, a Business School is a microcosm of the working world and you have teachers/bosses to please, team-members/colleagues to manage, bureaucratese/paperwork to deal with, etc.
Many programs do accept MBA students straight from undergrad.
Networking? Vaguely heard of it but never experienced it, especially as a foreign student. Maybe that was real in the dark ages when there where 20 MBA programs in the world. Now when there is a B school behind every bush and corner I do not believe in such think as networking. Though I may be wrong especially at top universities MBA programs.