NATURE AND SIGNIFICANCE OF MANAGEMENT — OCM STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceOCMNATURE AND SIGNIFICANCE OF MANAGEMENT3 Marks
Question
Explain: - Management as a profession.
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Answer
Following characteristics of profession is seen management, hence management is a profession.
$(1)$ Body of specialized knowledge : As per natures of profession, specialized knowledge is required in it. For eg. $LLB$ degree is needed for profession of lawyer, $\text{MBBS, MD, DR MS}$ degree necessary for doctor. Similarly $BBA ($Bachelor of Business Administration$)$ of $MBA ($Master of Business Administration$)$ are necessary for specialized knowledge of management.
$(2)$ Increase in Knowledge and Research : Like other profession there is an increase in knowledge and research in management due to experience and training in it.
$(3)$ Professional Association : Various professions have their associations likewise too. It gives education and training of management . $IIM ($Indian Institute of Management$)$ give education of management in India. It is working at National and International level.
$(4)$ Implementation of code of conduct : Each of the professional associations have to frame code of conduct for tits members. Each of the members. Each of the members has to follow code of conduct.
$(5)$ Moral Responsibility : Moral responsibility is important in profession and need to fulfill their moral irresponsibility eg. Chartered accountant must be loyal to his clients and should not disclose any information to any other person.
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