Over a large few decades, factors such as growing size of
business unit, separation of ownership from management, growing competition etc
have led to an increased demand for professionally qualified managers. The task
of manager has been quite specialized. As a result of these developments the
management has reached a stage where everything is to be managed
professionally.
A profession may be defined as an occupation that requires
specialized knowledge and intensive academic preparations to which entry is
regulated by a representative body. The essentials of a profession are:
èSpecialized
Knowledge - A profession must have a systematic body of knowledge
that can be used for development of professionals. Every professional must make
deliberate efforts to acquire expertise in the principles and techniques.
Similarly a manager must have devotion and involvement to acquire expertise in
the science of management.
èFormal
Education & Training - There are no. of institutes and universities to impart
education & training for a profession. No one can practice a profession
without going through a prescribed course. Many institutes of management have
been set up for imparting education and training. For example, a CA cannot
audit the A/C’s unless he has acquired a degree or diploma for the same but no
minimum qualifications and a course of study has been prescribed for managers
by law. For example, MBA may be preferred but not necessary.
èSocial
Obligations - Profession is a source of livelihood but professionals
are primarily motivated by the desire to serve the society. Their actions are
influenced by social norms and values. Similarly a manager is responsible not
only to its owners but also to the society and therefore he is expected to
provide quality goods at reasonable prices to the society.
èCode
of Conduct- Members of a profession have to abide by a code of
conduct which contains certain rules and regulations, norms of honesty,
integrity and special ethics. A code of conduct is enforced by a representative
association to ensure self discipline among its members. Any member violating
the code of conduct can be punished and his membership can be withdrawn. The
AIMA has prescribed a code of conduct for managers but it has no right to take
legal action against any manager who violates it.
èRepresentative
Association - For the regulation of profession, existance of a
representative body is a must. For example, an institute of Charted Accountants
of India establishes and administers standards of competence for the auditors
but the AIMA however does not have any statuary powers to regulate the
activities of managers.
From above discussion, it is quite clear that management
fulfills several essentials of a profession, even then it is not a fully
fledged profession because: -
·
It does not restrict the entry in managerial jobs for
account of one standard or other.
·
No minimum qualifications have been prescribed for
managers.
·
No management association has the authority to grant a
certificate of practice to various managers.
·
All managers are supposed to abide by the code formulated
by AIMA,
·
Competent education and training facilities do not exist.
·
Managers are responsible to many groups such as
shareholders, employees and society. A regulatory code may curtail their
freedom.
·
Managers are known by their performance and not mere
degrees.
·
The ultimate goal of business is to maximize profit and not
social welfare. That is why Haymes has rightly remarked, “The slogan for
management is becoming - ’He who serves best, also profits most’.”
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