[Commerce Class Notes] on Management as a Profession Pdf for Exam

The definition of management states that it is the act of coordinating and administrating a workforce to achieve a target. This includes building strategies and manoeuvring the workforce accordingly to optimize its potential. In recent years, the expansion of companies and their initiative to sell shares have separated ownership from day to day company activities. Management employees and managers have come through to fill this gap and ensure the smooth running of an organization. The duty of management professionals has evolved, and they are now the key to the success of any company. 

Along with directing the workforce collectively to meet company objectives, their job role extends further to ensure the well-being of employees as well.

What is a Profession?

A profession is an occupation that demands specialized knowledge of a subject matter alongside intense academic background. Moreover, competent authorities regulate the entry in a particular occupation, and they look for experience, ethics, and formal training. According to experts, a profession includes the following fundamentals.

1. Special Knowledge

The emergence of professions of any kind, stems from a body of particular knowledge, which individuals can study. Professionals need to make an effort to acquire this knowledge and its techniques. Management professionals need to do the same to secure employment at their level.

2. Dedicated Training and Education

The knowledge is not enough to succeed in any profession; one needs to know its technical nits and grits. In this regard, training, particular to a job, comes in handy. Also, one cannot become an expert without a dedicated course of education. Thus, going through them is vital.

3. Code of Conduct

There is a code of conduct, commonly known as work ethics, in every profession, and members associated with it must abide by it. Typically, this code varies from one company to another. This code of conduct includes the rules and regulations of a firm.

4. Social Obligations

Social obligation is an unseen part of every profession. Professionals seek motivation from their desire to serve society, and social norms influence their actions.

5. Representation

Every profession has a competent authority at its forefront, which regulates that sector. These associations are in charge of regulating and developing criteria for a particular profession.

Discussion of Management as a Profession

Management, as a profession has existed for years. Consequently, management is a true profession comment is evaluated based on the fundamentals of the profession. Here is a detailed explanation of the same.

1. Specialized Knowledge

Management professionals need specialized knowledge to work in their respective fields. They can gather their knowledge from books and other study materials that are carefully curated. Therefore, in this light one can say that management is a profession.

2. Training and Education

Modern management science allows aspirants to gain their necessary knowledge and training. There are many management education and training institutions in this country that can help an individual in this process. In the current market, companies prefer to hire individuals who have a degree to manage certain positions.

Thus, management professional meaning refers to individuals with appropriate training and education, which qualifies them as a profession.

3. Code of Conduct

Every professional working in this domain needs to abide by specific rules and regulations or codes of conduct. Primarily, such norms are at the discretion of the organization they are working for, and it alters from time to time. However, professional morality, integrity, and honesty are some fundamentals that individuals must abide by irrespective of their role. Keeping this into consideration, one can quickly identify management as a profession.

4. Social Obligations

The social obligation of any job prevails in management as well. Even though there are no such written norms, but in reality, the focus on social responsibility exists. Therefore, it is not hard to consider management as a profession.

5. Associations

There are professional management association in almost every country, and their job is –

• To regulate the behaviour of the members

• Creating norms for the professionals

• To study and develop new ideas for the betterment of management as a profession

For instance, in India, the All India Management Association works in tandem with the local association to improve this sector via research and analysis.

Keeping these pointers in mind, it is not hard to regard management as a profession, but a contrasting opinion also co-exists.

Can Management Be Strictly Categorized As A Profession?

Management is a profession this statement is of no value when one considers the following pointers.

1. Even though the factor of education and training exists, there are no particular rules about it. Often individuals who acquire a seat in the management of an organization do not have the formal qualification or training to be there. Since there is no prescribed qualification for managers, the entry here is not restricted.

2. The social responsibility of management professionals has some constraints. They are answerable to the shareholder, owner, or board of directors. Hence, even if they want to give back to the community, they need to seek permission.

3. The evaluation of management individuals is based on their performance, not on their degrees.

Management is not a profession; by all means, it satisfies certain fundamentals of it. The old saying of ‘managers are born, and not made’ holds no value in modern times. In the contemporary world, individuals can get themselves trained via a dedicated course of study to become a manager.

Aspiring management professionals can learn more about this topic on – India’s leading e-learning platform. Individuals can get in touch with subject experts to clear doubts and enhance their preparations.