Good question, and my answer would be it depends on the goal. To just learn Business English, my answer would be no. If your goal is to be an English major, you need to have some acquantance with the bard.

And if your in the LA area, you should go see Pulp Shakespeare - you will never look at Pulp Fiction the same way :-) And visiting the Rennaisance Faire is a good way to help your English.

Should China’s University English Programs Drop Shakespeare? - Business Insider

I would compare studying Shakespeare, to studying Chinese classics. For those advanced enough, its a must to truly understand the culture.

My favorite book on Chinese poems, with a great study guide:

A Thousand Peaks: Poems from China

Our Price: $19.95

Chinese Poetry Anthology

Spans 2,000 years--from the Han Dynasty to the 20th century

• Rhythmic translations capture astonishing beauty of original Chinese poem and history
• Stories that describe the culture and history that inspired the poet
• Pinyin and Chinese translations
• With illustrations