Praveen and Naveen are friends. Praveen became a professional after completing his MBBS from ‘Hindu Medical College'. Naveen completed his MBA from IIM, Bangalore. In a discussion with Praveen, Naveen said that he too is a professional and is working with a multinational company as a senior manager getting a good package. Praveen was not convinced about the fact that Naveen was a professional in spite of being aware that nowadays there is increasing emphasis on managed business concerns. Praveen gave three reasons in support of his opinion. Explain the three reasons that Praveen might have given.

Reasons that Praveen might have given : Restricted entry – There is no restriction on anyone being appointed as manager in any business enterprise, irrespective of the educational qualifications possessed as compared to other professions like a doctor, a lawyer, etc Professional Association – There are several associations of practicing managers in India, like the AIMA (All India Management Association), however, there is no compulsion for managers to be members of such an association nor does it have any statutory backing unlike other professions. Ethical code of conduct: All professionals are bound by a code of conduct which guides the behaviour of its members, which may not be followed by manager though AIMA has laid down a code of conduct to regulate the activities of their members. Service motive– The basic purpose of management is to serve their clients interests by rendering dedicated and committed service whereas the basic purpose of management is to help the business organisation to achieve its stated goal which is profit maximisation.