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Students usually do not focus on studies, if the course is not relevant to their ambitions, or suited to their personality. It is wise for a parent to rule out other possibilities such as the wrong kind of company or habits, whoch are a deterrent to success.
I would advise him to take an online career assessment test. The results will reveal if the course he is pursuing will help him in manifesting the strengths of his personality. If not, it is not too late to change stream. A good MBA may be a prerequisite to corporate jobs, but a child can have other talents, which are exploited well on other fields.
If the problem persists, see a counselor to reach the root cause of the problem. He can also engage a life coach to help him achieve his aims.
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