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Business as a Profession

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Submitted By DannyZaidi1986
Words 1007
Pages 5
Introduction The objective of this essay is to identify the key factors involved based on two opposing perspectives as to whether business practice should be treated as a profession or not. The essay aims to discover as to which argument is more compelling and the reasons for it. The essay will conclude with supporting reasons favouring one of the two points of view.

Business as a Profession This section will provide arguments that support the idea of business and management as a profession. Khurana, Nohria and Penrice (2005) strongly argue that business management should be a profession in order to prepare managers on how to conduct themselves in an ethical behaviour, employ proper judgement while making business decisions and maintain trust internally and externally. This concept maintains that 4 factors are crucial in order to determine the success of management as a profession which is a standardised body of knowledge that is widely accepted, a process of ensuring that individuals possess the required skills before granting them license to practice, ensure that individuals are dedicated to using their knowledge for the common good instead of maximising on profits and finally to create a code of ethics that can ensure that individuals are compliant with the guidelines. This school of thought is supported by Zsolnai (2009) who agrees that a professionalization of business is required to avoid the irresponsible behaviours displayed by business leaders today. In a nutshell, it is being emphasized that public trust would be much stronger and managers less corrupt if business and management were seen more as a legitimate profession rather than just an occupation. It also highlights the fact that if business was a recognized profession, certain regulations could be put into place that would be universally acknowledged and avoid many cases

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