Nature of Management as Profession : XII Com Business Studies

Profession can be defined as an occupation backed by specialized skill, knowledge and training.
Management is the process of getting things done through others effectively and efficiently.
Study Material for XII Com

1. Business studies XII Commerce Additional Material @ pratapnaikresources.wordpress.com Welcome to Pratap Naik Classes

2. Management Subtitle Session 6 : Nature of Management : Profession

3. Management as Profession What is Profession ? Profession can be defined as an occupation backed by specialized skill , knowledge and training . Those engaged in professions are known as professionals All the activities of professionals are subject to guidelines laid down by professional bodies. Basic features of Profession Well-defined body of knowledge Restricted entry Professional association Ethical code of conduct Service motive

4. Management as Profession Well Defined Body of Knowledge All professions are based on a well-defined body of knowledge These can be acquired through instruction & education. Every profession has its own concepts, terminology, books & study material. Management is also based on a systematic body of knowledge Management comprising well-defined principles based on a variety of business situations. This knowledge can be acquired at different colleges and professional institutes. Indian Institutes of Management (IIM) Also large number of books and journals are available to enhance knowledge. Thus this criteria has been met in management.

5. Management as Profession Restricted Entry The entry to a profession is restricted through an Examination & Educational Degree. To become a Doctor one has to qualify MBBS. To become a Lawyer on has to pass LLB. To become a CA on has to pass the ICAI Exams . In case of management t here is no restriction on anyone being designated or appointed as manager in any business. Anyone can be called a manager irrespective of the educational qualifications possessed. But professional knowledge and training is considered to be a desirable qualification. Also there is greater demand for those who possess degrees from reputed institutions. Thus this criteria has not been strictly met in management.

6. Management as Profession Professional Association All professions are affiliated to a professional association which regulates entry & grants certificates. In order to undertake practice it is legally compulsory to be a member of the association. Doctors are engaged in the medical profession and are subject to the regulations of the Medical Council of India. Lawyers are engaged in the legal profession, governed by the Bar Council of India. Chartered Accountants belong to the accounting profession and are subject to the regulations of the Institute of Chartered Accountants of India . In case of Management there are several associations of practicing managers like AIMA - All India Management Association ICA - Indian Commerce Association But it is legally not compulsory for managers to be members of such an association. Thus this criteria has not been strictly met in management.

7. Management as Profession Ethical Code of Conduct All professions are bound by a code of conduct These are issued by the Professional Association such as MCI, BCI, ICAI. These codes guides the behaviour of its members. All professional take the oath of ethical practice at the time they enter the profession. In case of Management There are several associations for managers in India that has laid down a code of conduct. AIMA has laid down a code of conduct to regulate the activities of their members. But it is not legally compulsory to follow the code of conduct by the managers. Thus this criteria has not been strictly met in management.

8. Management as Profession Service Motive The basic motive of a profession is to render service to the clients. The task of a lawyer is to ensure that his client gets justice. The duty of a doctor is that his patient get cured. However the basic purpose of management is to help the organisation achieve its stated goal. The organisation has multiple objectives including profit maximization. Management helps in fulfilling these objective of organisation.   Conclusion: Management does not fulfill all the features of a profession; Thus it is not a full-fledged profession. Because anybody can proclaim to be a manager; prescribed compulsory educational degree or license is not required. Besides there are not any formal ethical codes which are required to be observed.

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