Professional Management

Professional Management- Definition, Nature, Features, Scope

Meaning of Professional Management

Professional Management refers to the seasoned approach in administering the organization. In such organizations the top management positions and even the lower management position are held by professional people. They have the professional qualifications, administrative & technical skills and also the good amount of experience in managing business affairs.

Definition of Professional Management

According to Louis Allen Professional Management defined as follows:

“A Professional manager is one who specializes in the work of planning, organizing, leading and controlling the efforts of others and does so thought systematic use of classified knowledge, a common vocabulary and principles and who subscribes to the standard of practice and code of ethics establish by recognized body”.

Nature / Characteristics / Features of Professional Management

The Nature, Characteristics, Features of Professional Management are as follows:

1. Appointment of an Expert:

   In professional management, there is always a specialized and expert person is appointed to look after the management of each area. The major areas in the business enterprises include purchasing production, marketing, finance, etc. In professional management for each of the fields a specialized person is appointed, and he is responsible for the efficiency of the department.

2. Prescribed Management Qualification:

   In professional management, expert who are appointed must have prescribed management qualification in the branch which he is taking care of. It is also expected that he must have necessary practical experience. In other words, professional manager must be theoretically and practically sound.

3. Decision-Making Ability:

   In professional management, the managers have the ability to think, analyze situations and take rational decisions regarding business activities. Their decisions are generally very sound keeping in the prospective growth of business in their mind.

4. Capacity to Accept Challenges :

   In professional management, managers have the capacity to accept new challenges due to their educational and training background.

5. Use of New Techniques:

   In Professional management, managers use new techniques such as computers, automation and information technology for solving managerial problems.

6. Enhancement of Knowledge & Skill:

   In professional management, managers keep their knowledge and skill up to date by attending management development programmes. They attend conferences, seminars and workshops and enhance their knowledge and skill by exchanging their ideas with other professionals.

7. Merit as the Basis of Promotion :

   In professional management, the traditional and conservative types of management promotions to the higher posts are given based on seniority. This does not give scope for youngsters having talents who are very useful for the growth of business. Professionally managed companies give promotion to higher posts assuming merit or performance in the work.

8. Faith on Participative Management:

   In professional management, managers have faith in participative management. They encourage the subordinates to participate in the process of decision making.

9. Due to Consideration to Social Responsibility :

   In professional management, managers consider business as a socio-economic institution. Manager gives due to consideration to the concept of social responsibility. They give importance to consumer satisfaction. They try to bring a balance between profit motive and social responsibility. They go for consumer-oriented products. They try to improve the quality through research and development and so on.

10. Faith in Assignment of Authority:

    In professional management, the senior managers give assignments to the assistant managers. Normal and monotonous works are given to the assistant. Important decisions are taken by the head of the management.

Scope of Professional Management

Although it is difficult to precisely define the scope of management, yet the following areas are included in it:

• Subject-Matter of Management :

  Planning, organizing, directing, coordinating and controlling are the activities included in the subject matter of management.

• Functional Areas of Management:

  Management covers the following functional areas.

• Financial Management:

  Financial management includes forecasting, cost control, management accounting, budgetary control, statistical control, financial planning etc.

• Human Resource Management:

  Personnel: Human Resource Management covers the various aspects relating to the employees of the organisation such as recruitment, training, transfers, promotions, retirement, terminations, remuneration, labour welfare and social security, industrial relations etc.

• Marketing Management:

  Marketing management deals with marketing of goods, sales promotion, advertisement and publicity, channels of distribution, market research etc.

• Production Management:

  Production Management includes production planning, quality control and inspection, production techniques etc.

• Material Management:

  Material management includes purchase of materials, issue of materials, storage of materials, maintenance of records, materials control etc.

• Purchasing Management:

  Purchasing management includes inviting tenders for raw materials, placing orders, entering into contracts etc.

• Maintenance Management:

  Maintenance Management relates to the proper care and maintenance of the buildings, plant and machinery etc.

• Office Management:

  Office management is concerned with office layout, office staffing and equipment of the office.

• Personnel Management includes recruitment, training, transfer promotion; demotion, retirement, termination, labor-welfare and social security industrial relations.
• Transport Management includes packing, warehousing and transportation by rail, road, and air.
• Distribution Management includes marketing, market research, price-determination, taking market risk and advertising, publicity and sales promotion.
• Principles of Management are of universal application. These principles are applicable to any group activity undertaken for the achievement of some common goals.
• Development Management involves experimentation and research of production techniques, markets, etc.

• Management is an Inter-Disciplinary Approach-

  Though management is regarded as a separate discipline, for the correct application of the management principles, study of commerce, economics, sociology, psychology, and mathematics is very essential. The science of management draws ideas and concepts from a number of disciplines making it a multi-disciplinary subject.

• Management is an Agent of Change-

  The techniques management can be improved by proper research and development.

• Universal Application-

  The principles of management can be applied to all types of organizations irrespective of the nature of tasks that they perform.

• Essentials of Management-

  Three essentials of management are:

1. 1. Scientific method
   2. Human relations
   3. Quantitative technique
   4. Modern Management is an Agent of Change.

Important links

• Conflict Management Technique- Conflict Resolution & Stimulation
• Implications & Process of Organizational Culture
• Types of Organizational Culture
• Principles of Organisational Culture
• Steps of Managing Organizational Culture
• Entrepreneurship- Meaning, Definition, Functions & Characteristics
• Financial management- Meaning, Characteristics and Objectives
• Project Management- Meaning, Characteristics, Functions
• Components of Attitudes & ABC Model of Attitude
• Attitude in Organisational Behavior- Function, Characteristics & Properties

Disclaimer: wandofknowledge.com is created only for the purpose of education and knowledge. For any queries, disclaimer is requested to kindly contact us. We assure you we will do our best. We do not support piracy. If in any way it violates the law or there is any problem, please mail us on wandofknowledge539@gmail.com