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Consider the following statements regarding the characteristics of management as a profession:

  1. A profession is a highly specialized field requiring technical skills, but not necessarily a formal body of knowledge.
  2. Management has been historically viewed as a profession but has become less so over time due to the influence of various scientific theories.
  3. The rise of management as a profession has led to a separation of ownership and management, where managers, who are not necessarily owners, are hired to run the organization based on their expertise.

    Ai, ii

    BNone of these

    Cii, iii

    Diii only

    Answer:

    D. iii only

    Read Explanation:

    • A key characteristic of a profession is a formal body of knowledge that is a result of research and is transferable through formal education.

    • Management has been evolving towards being a profession, with the development of a systematic body of knowledge and formal training programs.

    Related Questions:

    A company's management team analyzes market trends, competitor actions, and customer feedback to adapt its production schedule and marketing strategy. This approach, which views the organization as an open system that must continuously adjust to its external environment, aligns with which characteristic of modern management thought?

    Frederick Winslow Taylor's scientific management proposed several core principles. Which of the following accurately represents one of his principles?

    1. Taylor advocated for 'Rule of thumb, not science' in management decisions to allow for greater flexibility.
    2. One of his fundamental principles was 'Co-operation, not individualism,' emphasizing mutual effort and teamwork between management and labor.
    3. He believed in 'Restricted output, in place of maximum output' to prevent worker burnout and ensure job security.
    4. The 'mental revolution' primarily meant workers competing fiercely to maximize their individual wages, rather than cooperating.
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      Who is considered the "Father of Personnel Management"?
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