Q.Management is considered an 'emerging profession' rather than a full-fledged profession like law or medicine mainly because:

Management has some profession-like features (courses, bodies of knowledge, associations) but lacks the mandatory licence and uniform code of conduct that classic professions require.

Management shows partial profession-like features — courses, degrees, specialised knowledge, and professional associations all exist — but it falls short of classic professions such as law or medicine because there is no single, universally required qualification/licence one must hold before managing, and no single, legally binding code of conduct every manager must follow.

Option-by-option analysis:

• (a) Incorrect — management courses and degrees are widely available; this is factually wrong.
• (b) Correct — this precisely identifies the two structural gaps that keep management an 'emerging' rather than full profession. …