Students should, but most don't, take every opportunity to discuss research and theory with one another. Having to argue your position on some arcane theory might seem a silly academic exercise for an aspiring practitioner, but someday you may find yourself trying to explain something complex to a VP for HR, and that skill will become very relevant. Particularly challenging is that typically in practice we must translate complex research findings into terms managers and lay persons can understand. Ph.D. training must prepare students for the variety of careers that exist and will exist in the future. A solid foundation will enable you to try a variety of things in your career, and will help you retain a set of marketable skills as organizational demands change.
Specialized training can quickly become obsolete, so it is essential that training be generalizable.
Although skills are primarily the same for academic and applied jobs, there is a difference in career strategy that begins in graduate school. The main issue is that academic records are based on publication, while applied records are based on professional experiences, e.g., job responsibilities and organizational affiliations. Academic Preparation . Don't graduate without publication if you want to be a professor, even if it means taking an extra year or even two. Also keep in mind that publication is a slow process.