Business Studies · Ch 1 — Nature and Significance of Management
Management as a Profession
1.5.3
Management as a Profession
Management as a Profession
You have seen that all organised activity needs management, and organisations look for people with specific qualifications and experience to manage them. With the rise of corporate businesses and a growing emphasis on managed enterprises, a natural question arises: Is management a profession?
To answer this, we first examine the key features of a profession and then check whether management satisfies them.
What is a Profession? (Five Key Features)
A profession is generally characterised by the following:
- Well-defined body of knowledge: All professions are based on a systematic, well-defined body of knowledge that can be acquired through formal instruction.
- Restricted entry: Entry into a profession is restricted, usually through a qualifying examination or by obtaining a specific educational degree. For example, to become a chartered accountant in India, a candidate must clear an examination conducted by the Institute of Chartered Accountants of India.
- Professional association: Every profession is affiliated with a professional association that regulates entry, grants certificates of practice, and formulates and enforces a code of conduct. For instance, lawyers in India must be members of the Bar Council, which regulates their activities.
- Ethical code of conduct: All professions are bound by a formal code of conduct that guides the behaviour of their members. Doctors, for example, take an oath of ethical practice when they enter the profession.
- Service motive: The basic motive of a profession is to serve the client's interests through dedicated and committed service. A lawyer's task is to ensure that their client gets justice.
Does Management Meet These Criteria?
Management does not meet the exact criteria of a profession, but it does possess some of its features. Here is a point-by-point comparison:
| Feature of a Profession | How Management Measures Up |
|---|---|
| Well-defined body of knowledge | Yes, largely satisfied. Management is based on a systematic body of knowledge comprising well-defined principles derived from various business situations. This knowledge can be acquired at colleges, professional institutes (like the Indian Institutes of Management or IIMs), and through books and journals. Entry to these institutes is usually through an examination. |
| Restricted entry | No, not satisfied. There is no restriction on anyone being designated or appointed as a manager in any business enterprise. Anyone can be called a manager, regardless of their educational qualifications. Unlike medicine or law, it is not mandatory for a manager to possess a specific degree. However, professional knowledge and training are considered desirable qualifications, and there is greater demand for those with degrees or diplomas from reputed institutions. |
| Professional association | Partially satisfied. There are associations of practising managers, such as the All India Management Association (AIMA), which has laid down a code of conduct for its members. However, there is no compulsion for managers to be members of such an association, and these associations do not have any statutory backing. |
| Ethical code of conduct | Partially satisfied. While associations like AIMA have a code of conduct, it is not universally enforced or legally binding on all managers. |