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Principles and Practices of Management

Notes 1.6 Management – An Emerging Profession

The professionals enjoy high status in every society. Individuals desire to join a profession like
medicine, chartered accountant, engineering and law. There has been a growing trend towards
professionalisation of management, primarily, because of the desire of business leaders for
social status and recognition.
A profession may be defined as an occupation backed by specialized knowledge and training,
whose code of conduct is regulated by a professional body and which is duly recognized by the
society. The basic requirements of a profession are as follows:
1. Knowledge: A substantial and expanding body of knowledge and information in the
concerned field.

2. Competent Application: Skilled and judicious utilization of knowledge in the solution of
complex and important problems. This requires education and training in the specified
field.
3. Professional Body: Regulation of entry into the profession and conduct of members by
the representative body.
4. Self Control: An established code of conduct enforced by the profession’s membership.
5. Social Responsibility: Primarily motivated by the desire to serve others and the community.
6. Community Approval: Recognition of professional status by the society.
Does management satisfy the tests of a profession? The application of the above tests or criteria
to management is examined below:
1. Specialized Knowledge: There exists a rapid expanding body of knowledge underlying
the field of management. Since the beginning of this century, many thinkers on management
have contributed to the field of management. Now we have systematic body of knowledge
that can be used for the development of managers. Management is widely taught in the
universities and other educational institutions as a discipline.
2. Competent Application-Education and Training: MBAs are generally preferred for
managerial jobs, though MBA degree is not necessary to enter this profession. Persons
with degree in psychology, engineering, etc., can also take up managerial jobs. Thus, there
are no standard qualifications for managers.
3. Managerial Skills can’t be Learnt by Trial and Error Method: To be a successful manager,
it is essential to acquire management skills through formal education and training. Many
institutes of management have been functioning in India and other countries which offer
MBA and other courses in management.
4. Professional Body: For the regulation of any profession, the existence of a representative
body is a must.

Example: The Institute of Chartered Accountants of India lays down the standards of
education and training for those who want to enter the accounting profession. Some organisations
such as the Indian Management Association and the All India Management Association have
been set up in India. But none of these have any legal authority to prescribe minimum qualifications
for taking up managerial posts or to regulate the conduct of managers as is the case with the
Medical Council of India and Bar Council of India. Management Association has prescribed a
code for managers, but it has no power to take action against any manager who does not follow
this code.

8 LOVELY PROFESSIONAL UNIVERSITY