Scott Berkun was program manager at Microsoft for Internet Explorer. He wrote a nice essay about what he missed in university (and what might have been the reasons for it). Looking back on his work experience he summarizes what is important:
The challenge is that what makes you credible to a developer, marketing executive, documentation manager, or any other person you have to deal with might be different for each one, and what earns you credibility won’t always be tied to your design or usability brilliance. Instead, work towards helping the team get stuff done. Be useful. Then when it comes time to bring your grand design vision to the table, you’ll have built the respect and trust necessary for them to be helpful to you.