Management as a profession

A profession's a well-defined body of knowledge which is learned intellectually, and with an organizational sense. To enter a profession, a person has to undergo the relevant course and write the exam. It's primarily concerned with serving others. Pros work either for charges or fees.

Requirements

A profession's an occupation which requires special skills. It's backed by knowledge and training. It needs skills and a special body of knowledge, formal training and experience methods, a company, ethical codes of conduct and money.

Reasons why it's not considered a profession

Management's a well-defined body of knowledge. There are organizations made to regulate whatever managers do. There's also a code of conduct for managers. But management's not considered a profession because it needs a minimum number of qualifications, it's essential for its' practitioners to register themselves with a professional body (though that's not obligatory) and there's no universally accepted code of conduct.

Reasons why it's considered a profession

It's considered a profession because it consists of special knowledge, has formal training methods, fees, has a code of conduct, and has a representative organization

Conclusion

Management's a new branch of knowledge. It's developed as a profession because of the need for acquiring skills to solve problems. Thus, it's not a full-fledged profession.

Principles of Management

The Principles of Management are the essential, underlying factors that form the foundations of successful management. According to Henri_Fayol in his book General and Industrial Management (1916), there are fourteen 'Principles of Management'.

1. Division of Work - According to this principle the whole work is divided into small tasks.The specialization of the workforce according to the skills of a person , creating specific personal and professional development within the labour force and therefore increasing productivity; leads to specialization which increases the efficiency of labour.
2. Authority and Responsibility - This is the issue of commands followed by responsibility for their consequences. Authority means the right of a superior to give enhance order to his subordinates; responsibility means obligation for performance.
3. Discipline - It is obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organizations.
4. Unity of Command - This principle states that each subordinate should receive orders and be accountable to one and only one superior. If an employee receives orders from more than one superior, it is likely to create confusion and conflict.

What is risk Management??

Nowadays when present global competitive and knowledge based environment is a prime concern, Risk management has become very crucial part of present business life. Increasing Insolvency rate has re-emphasized the importance of risk management .Risk is not a bad thing and failure is often a key to learning which prepares the way to success. So risk is not harmful if we handle it properly as it provides opportunity.

 Risk management is a concept which denotes the potential negative impact on the future projects or events.In other

way risks are event or happenings, which may occur and if occurrence may have bad or negative impact on the project.

Company Secretary : A Prosperous Professional

If you want become a valuable and responsible professional in corporate world who ensures both the legal as well as ethical compliance and by providing his worthful guidance to the Board of Directors ascertains the substantial growth of the organization, then go for Company Secretary Course.In the present world's economic scenario company secretary has increases the importance of company secretary. Company Secretary plays a vital role in the organization for its overall development 

The Company Secretary is:

• An in-house legal expert; a compliance officer of the Company.
• An expert in corporate laws, securities laws & capital market and corporate governance
• Chief advisor to the board of directors on best practices in corporate  governance
• Responsible for all regulatory compliances of company
• Corporate planner and strategic manager

if you want to be a Company Secretary, you have to pass the Company Secretary

 Examination conducted by the Institute of Company Secretaries of India (ICSI).

A candidate who wants to pursue the Company Secretaryship course under the new scheme of examination has to complete the following three stages:

*Foundation Programme  

* Executive Programme 

* Professional Programme 

The Increasing Importance Of Company Secretary

The average annual compensation of Company Secretaries at the top 500 firms listed on the BSE stood at Rs 50 lakh even though many of them got less than Rs 25 lakh, says a report.

The findings are based on an analysis of the secretarial audit reports of S&P BSE 500 companies by CimplyFive Corporate Secretarial Services -- which provides research and technology based solutions for compliance with the Companies Act, 2013.

Secretarial Audit is a concept introduced in the Companies Act, 2013, whose most provisions came into effect from April 1, 2014.

"The average annual compensation of Rs 50 lakh reflects the increasing importance for compliance among S&P BSE 500 companies.

"However, this importance accorded is not uniform across all the companies analysed as reflected in 155 (31 per cent) companies where the CS gets less than Rs 25 lakh and another 142 (28 per cent) companies where they earn less than Rs 50 lakh," the report said.

Under the Companies Act, 2013, company secretaries have an important role and are recognised as Key Managerial Personnel (KMP).