After reading this article you will learn about the arguments in favour and against professionalisation of management.
Arguments in Favour of Professional Management:
Professional management has the following merits:
1. In the competitive business environment both at the national and international levels, only professionally qualified managers can face competition. In order to survive in the global dynamic environment, it is necessary that managers are professionally qualified and trained. Non-professional or family managers may not be able to manage their companies successfully for long.
2. Professional managers not only maximise profits but also corporate image amongst stakeholders (creditors, government suppliers, competitions etc.) in the society, national and international markets.
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3. Professional managers follow a specific code of ethics. Malpractices like speculation, misrepresentation of information, promotion of vested interests at the cost of stakeholders’ interests will be reduced.
4. Professional managers improve the working of business enterprises and make them more productive. Business firms can be better managed by professional managers than non-professional managers.
Arguments against Professional Management:
The following arguments are offered against professionalisation of management:
1. It is not rare to find managers who are successful despite not being professionally qualified. Professionalisation may not, thus, prove to be effective in case of enterprises which are otherwise being managed so well. Acquiring a formal degree, in such cases, may, in fact be burdensome for managers.
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2. Managers deal with human beings whose behaviour cannot be accurately predicted. Most highly qualified managers may not be able to perform better than non-professional managers. Managers should be skilled in behavioural and social sciences rather than acquiring professional expertise. More than a profession, thus, management is the art of profession. Management is the art of practicing managerial principles and theories.