👔 Nature and Characteristics of Professional Management
Understanding the cornerstones of modern organizational leadership
🧐Meaning of Professional Management
Professional management refers to a formal and skilled approach to managing organizations. In today's competitive business world, professional management is not just beneficial, but vital for success and sustainability.
📋Key Characteristics
The following are the important characteristics of professional management:
🎓1. Formal Education
Professional managers are formally educated and trained to run business organizations. They place a great emphasis on the continuous training and development of fellow managers. Most professional managers hold a degree or diploma in management.
📈2. Merit-Based Promotion
Professionally managed companies base promotions on merit. Factors like family ties or personal bias are typically not considered for advancement to higher levels in such organizations.
🤝3. Delegation of Authority
Senior managers effectively delegate authority to subordinate managers. Routine and repetitive activities are delegated to subordinates, allowing superiors to focus on important and crucial strategic matters.
🌍4. Social Responsibility
Professional managers give due consideration to social responsibility. They strive to balance the profit motive with their obligations to society, often by creating consumer-oriented products and improving quality through research and development.
💡5. Employee Participation
Top management not only secures the active participation of subordinate managers in planning and control but also encourages initiative and innovative ideas from all employees. Valuable suggestions are often implemented, and contributors are rewarded.
⚙️6. Automation and Modernization
Professional managers advocate for automation and modernization. They recognize and adapt to changes brought by evolving situations and encourage their subordinates to willingly accept the organization's automation and modernization plans.
⚖️7. Decentralization
Professional management advocates for a balance between centralization and decentralization. While important strategic matters are centralized, other operational matters are decentralized. The involvement of lower-level managers is considered vital to organizational success.
🗣️8. Style of Leadership
Professional managers often adopt a situational leadership style. They tend to be more democratic than autocratic, adapting their approach to fit the specific context and needs of their team and business activities.