When many people hear the word ‘mba’, they probably picture a smiling business executive on Forbes or in a world financial centre with skyscrapers and bustling white-collar workers speaking on their iPhones. And that’s not a bad image to have, because some of the most prominent contemporary business leaders do have MBAs.

However, an MBA isn’t a golden ticket to fame or fortune, and it’s important for those considering one to realise that. The fact is that, regardless of what type of degree you have, succeeding in the world of business requires initiative, creativity and effort. You need to be able to solve complex problems and think strategically, and that’s what business school is all about.

A good business school will also teach you the skills required to communicate effectively, which is a vital skill in any industry. That’s why some MBA programs use case studies and group projects to help students develop their interpersonal skills. Other courses focus on leadership and navigating organisational change, which are crucial in a fast-changing business landscape.

If you’re planning a career switch, then the broad scope of specialisations offered by a modern MBA program will give you the flexibility to find your niche. For example, an MBA in operations management is ideal for managers who want to improve productivity and efficiency, while a degree in IT management can set you up for a job managing IT teams or advising companies on technology strategy.