I enjoyed reading the article "It’s Time to Make Management a True Profession" written by Harvard professors Rakesh Khurana and Nitin Nohria. The original article can be found here.
In brief:
* When compared to other 'true' professions such as those of Doctors or Lawyers, the management profession lacks a way to enforce code of conduct.
* A management degree is not necessary to become a manager. However, professions like Doctors and lawyers require formal education. Even if they didn't, you would not trust an uneducated so-called doctor, would you?
* Managers with an MBA degree are less likey to invest in continuing education.
* Because of the above points, the authors propose a governing body to oversee the members' compliance and enfore code of conduct.
The other mentioned professions have a textbook/formal way to approach typical situations - like while treating a patient or while handling a legal case etc. The situations facing decision making managers are typically subjective and circumstantial. While it may be tempting to fault a manager after the fact, but it's not easy to devise a handbook approach to such situations - because every situation is typically different. The only real knowledge that can be imparted with an MBA education is the decision making framework.
Ethics is more of a moral issue. Whether a governing body can really enforce code of conduct is again a debatable issue. Professionals are aware of the morally right choice, when making fraudulent moves, hoping that nobody would find out. The well-known accountants are members of a governing body which enforces certain code of conduct. How many accountants have not been found guilty of unethical behavior?
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