Nature and Significance of Management

Question

Discuss the basic features of management as a profession.

Answer

Management as a profession has following characteristics:

  1. Well Defined Body of Knowledge: All professions are based on a well-defined body of knowledge that can be acquired through instruction.
  2. Restricted Entry: The entry to a profession is restricted through an examination or through acquiring an educational degree. For example, to become a chartered accountant in India a candidate has to clear a specified examination conducted by the Institute of Chartered Accountants of India.
  3. Professional Association: All professions are affiliated to a professional association which regulates entry, grants certificate of practice and formulates and enforces a code of conduct. To be able to practice in India lawyers have to become members of the Bar Council which regulates and controls their activities.
  4. Ethical Code of Conduct: All professions are bound by a code of conduct which guides the behaviour of its members. All doctors, for example, take the oath of ethical practice at the time they enter the profession.   
  5. Service Motive: The basic motive of a profession is to serve their client’s interests by rendering dedicated and committed service. The task of a lawyer is to ensure that his client gets justice.

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