Many top CEOs and other top dogs don't have degrees, but they're a very small group compared to those that do, and they usually went to college for some time before dropping out anyway. That being said, the current CEO of Microsoft has three degrees, one of which is a Masters of Business Administration.
Unless you think you're the next Gates, Jobs, or Zuckerberg, you should consider going to business school if you're planning on getting into business. That "bare minimum" you mentioned is probably vital to getting anywhere.
The management courses I've taken suggest otherwise. And we're talking about universities that routinely pump out successful entrepreneurs, not high schools that treat students like inmates.