Which of the following feature of "Management as a Profession" holds true?

Service motive

The correct answer is option (4) : Service motive.

* Restricted entry- This feature of profession does not hold true for management. There is no restriction on anyone being designated or appointed as manager in any business enterprise. Anyone can be called a manager irrespective of the educational qualifications possessed. Unlike professions such as medicine or law which require a practicing doctor or lawyer to possess valid degrees, nowhere in the world is it mandatory for a manager to possess any such specific degree. But professional knowledge and training is considered to be a desirable qualification since there is greater demand for those who possess degrees or diplomas from reputed institutions.

* Professional association- This feature of profession does not hold true for management. There is no compulsory professional association for managers which made it necessary for the managers to become a part of the association for practicing management.

* Ethical code of conduct specified by AIMA- This feature of profession does not hold true for management. There are several associations of practicing managers in India, like the AIMA (All India Management Association) that has laid down a code of conduct to regulate the activities of their members. There is, however, no compulsion for managers to be members of such an association nor does it have any statutory backing.

* Service motive-  This feature of profession holds true for management. The basic purpose of management is to help the organisation achieve its stated goal. This may be profit maximisation for a business enterprise and service for a hospital. However, profit maximisation as the objective of management does not hold true and is fast changing. Therefore, if an organisation has a good management team that is efficient and effective it automatically serves society by providing good quality products at reasonable prices.