Role Of Commerce Education In The Changing Business World

Vikas Degree College





Education is essentially, a process rather than a product as it is mostly taken to be. It teaches us to learn: learn things to develop in a creative manner, teaches us to learn to be economical in effort. True education is not knowledge of facts, but of values. True education leads us to the reality of life, peace, nature and survival of human race.

The world is changing very fast. The pace of globalization, liberalization and privatization has tremendously influenced the various dimensions of Commerce education. Thus, the literature on Commerce has been reviewed on the basis of papers presented at All India Commerce Conferences and also on the papers published in referred journals. Most of the scholars opined that Commerce courses were not able to meet the different types of challenges posed by Industry and Business and that the education was not practical -oriented and did not lead to develop skills and qualities of the young generation to face the work situation.Therefore, there is a need for its improvement and innovations to lead the present education system rise to a sufficient standard.

Commerce education plays a very important role in the changing business world. It is the most important key, which leads to success in all sectors of the economy.

The education imparted among Commerce students include lecturing, learning, group discussion, brain-storming, simulation exercises, case study, role-play, seminars etc… Through all these, the

Commerce students have derived some benefits. Lecturing seeks to offer a large amount of knowledge in a capsule form. Interaction and group discussion will make them involve in the topic and develop debating qualities. Brain-storming sessions help the students develop their creative thinking in groups. Simulation exercises make them change their attitude in different cases. Case method makes them understand the subject; improve communication skill, problem-solving rationale and many more. However, a Commerce student would understand the value of concentration, patience and creativity thereby trying to develop within him, the fruit of real education.

Commerce education has gained such an importance because if a simple mistake is committed or an entrepreneur in his business affairs takes a slightly wrong decision, then it would lead to the doom of his enterprise, which has been developed so far. Therefore, Commerce education is very important. The activities relating to Commerce is also affected when the business cycle is not going well.

Through Commerce education, a student is exposed to the environment of the business world. It is helpful for preparing them for self-employment and developing in them, the entrepreneurial abilities. It also inculcates practice orientation among the students. It makes them know about the importance of applying economic principles while making business decisions. It makes them aware of social, economic and political problems relating to business concerns. It teaches them to face the market situation, to adapt themselves to the present circumstances. Moreover, it helps them to meet the global competition.

We are living in the dynamic world where the man with his uncanny intellect first tried to understand Nature, then started exploiting it, and then started manipulating it. As the World progressed, there has been a paradigm shift in the different concepts relating to Commerce, say wealth. In the earlier times, wealth was synonymous with the treasure of yellow gold.

The process of Commerce education can be understood through its nature. It is a socio-behavioural science i.e. it is the science, which studies the social behaviour or human behaviour with the conduct of business activities. The University, College, Students, Commerce Colleges and institutions must take interest in spreading the general education of Commerce to the public in general. The Students write their exams in their institution. But the present evaluation system is so rigid, and it stresses only on bookish knowledge. It lacks practical outlook and the need to change in the pattern of this type of education is very essential as well as beneficial.

The role played by an effective system of Commerce education is self-evident as it provides necessary inputs among the young graduates of today, towards turning them to dynamic and successful businessmen of tomorrow. It must train the students not only in the technical aspects of the business but also teach morals and ethics. The Commerce education must be theoretical and practical. This must never be forgotten that the real education is one, which provides freedom of thought and judgment and liberation from dogmas. In this way, the role played by Commerce education is very important or sufficient as well as effective in the changing business world.





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