In this tutorial, we will learn that management as a profession is an occupation that involves the rendering of personal service of a unique and expert nature.
- Systematic body of knowledge
- Need for learning and proper organization
- Entry restricted based on examination or education
The rapid development of business and the separation of ownership and management in the organization contributed to the emergence of control as a distinct profession. Whether management is a profession or not, it would be relevant to have a clear understanding of the profession’s essential features.
To practice their job, they must have minimum academic and professional qualifications prescribed by law or by the related professional associations. The essential features of a business are as follows:
(1) Organized and specialized knowledge,
(2) Formal education and training,
(3) Service motive,
(4) Professional association, and
(5) Ethical codes.
Now, let us examine to what extent management fulfills the above requirements of a profession.
Organized and Specialized Knowledge:
Business emerges from the establishment of established and specialized knowledge, which can be studied. It is valid for all occupations, including management. During the last five-six decades, there has been a constant and steady growth of management techniques, principles, and skills. Today, management is a separate discipline having a specialized and organized body of knowledge.
Formal Education and Training:
A profession requires formal education and training in a specific area. No one can practice a business without going through the prescribed course. Many institutes of management have set up in foreign countries, which offer courses for specialized training in management. Formal education and training have become very helpful in getting jobs as managers. However, no minimum qualifications or course of study have been prescribed for managers by law.
A profession is a source of livelihood primarily motivated by the desire to serve the community. Due to their expert knowledge, they are always in a position to charge higher fees. They earn but not at the cost of social interests. The success of a profession cannot measure in terms of money. Therefore, a job enjoys high community respects. Management is an integrating agency, which integrates various resources and converts them into productive units. This is a significant contribution of the administration to the society, which cannot be measured in terms of money alone.
In every profession, there is a statutory association or institution which regulates that profession. The association is a representative body that governs and develops the business and prescribes the criteria for individuals entering the industry. In management also, an association has been formed for the regular exchange of knowledge and experience. However, they do not have the statutory power to regulate the activities of managers. Membership of this association is not compulsory to become a manager. Hence, the management does not satisfy these criteria of management.
A profession must possess some ethical standards of conduct for its members, which contains rules and regulations providing the norms of honesty, integrity, and professional ethics. Any member violating the code can be punished, and his membership can be canceled. But there are no enforced ethical codes in the field of management. So, management does not satisfy this feature of a profession.
From the above discussion, it is evident that the management does not satisfy all the features of a profession. Like other professions, the administration does not restrict entry into managerial jobs to people. No minimum qualifications have yet been prescribed for administrative personnel.
No management association has the authority to grant certificates for practice. In the absence of statutory association, ethical codes are also missing. Thus, management is not strictly a full-fledged profession like medicine, law, or chartered accountancy. Even though it does not satisfy all the features of occupations, it is treated as a separate and distinguished profession nowadays. At present, a large number of new graduates are attracted to this field.