I am actually a business major. I was never taught how to run a business. Some schools do have those courses but these are mostly specialty classes and not mandated for all students, which is unfortunate.

It was only later during my career where I voluntarily decided to learn how the world works, not from the perspective of an end user. During my undergraduate studies things like enterprise, critical thinking, and identifying trends was never taught. The dream was to get hired by a top bank to do "analytical" excel spreadsheets that can be complied by a high schooler and walk away with a 6 figure salary (this was before the 2008 recession).

So yeah, a lot of business graduates do not know how to start or run a business. The curriculum at least in my case, was mostly accounting, economics, and management with a dash of computer science. The basics of all of that can be found on the web without having take a plethora of exams and papers.