NATURE AND SIGNIFICANCE OF MANAGEMENT — OCM STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceOCMNATURE AND SIGNIFICANCE OF MANAGEMENT5 Marks
Question
“Management is a Profession”-Explain.
✓
Answer
$(1)$ Introduction : To survive in tough competition we need people who can provide technical support, production and Marketing teaching financial management etc. for doing all this kind of work we need people having specialized knowledge and skills.
$(2)$ What is profession? : Profession is an activity where specialized knowledge in specific field is acquired and used it for the welfare of the entire society, fees is charged from the society for it. Doctors, lawyers, chartered accountant, engineers etc. are professionals.
$(3)$ How Management is a Profession? : Following characteristics of profession is seen in 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, $MBBS, MD, DR$ Ms degree is necessary for doctor. Similarly $BBA ($Bachelor of Business Administration$)$ or $MBA ($Master of Business Administration$)$ are necessary for specialized knowledge of management.
$(2)$ Increase in Knowledge and Research : Like other professions have there is an increase in knowledge and research in management due to experience and training in it.
$(3)$ Professional Association : Various professions have their associates 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 has to follow code of conduct.
$(5)$ Moral responsibility : Moral responsibility is important is 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.
$(4)$ Conclusion : All the above characteristics can be seen in the management. Lawyers use jargons like Notice, Summons etc. whereas Doctor use words like operation, injection, Reaction etc. similarly management has planning. Control, budget, co-ordination etc.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.