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  • Why to choose Management as a Profession by GL Bajaj

    Over
    a last 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:

    Specific 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.

    Recognised 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.

    Social Commitments – 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
    .

    Code 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    punished and his membership can be withdrawn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.

    Hence,
    It   is substantiated   that management fulfils several essentials
    of a profession, –

    ·
    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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