Discuss the basic features of management as a profession.
Profession means an occupation that requires specialised knowledge and a practice of formal education, which is acquired from the respective professional body. The basic features of a profession are:
i) A systematised body of knowledge: A profession is based on a systematised body of knowledge.
(ii) Restricted entry: Entry into a profession is restricted through an examination or degree.
(iii) Professional association: All professionals are bound to be a part of a professional association.
(iv) Code of conduct: All professionals are subject to an ethical code of conduct.
(v) Service motive: The basic motive of each professional is to render committed service to the society.