Ex. 1.11. Read the text below and then discuss the following suggestions to make modern commerce education more effective and job oriented (you can make this list longer with your own ideas):
- The syllabus of commerce education must only contain theoretical knowledge component.
- The syllabus of commerce education must only contain practical skill component.
- The syllabus of commerce education must contain both theoretical knowledge and practical skill components.
- There must be a close relationship between universities and commerce organizations.
- Using computer in commerce education must be compulsory as for the needs and requirements of commerce.
- There must be a university-profession interaction for making the course relevant.
- Additional training and retraining is essential for the teachers to update their knowledge.
- Student placement into a real company is the ultimate goal of any business education.
- Students are responsible to be engaged in any business by themselves.
- Teachers of commerce must be paid more.
Commerce Education
As a branch of knowledge, Commerce imparts experience of business world at large in all its manifestations. It prepares the learners for personally fruitful and socially desirable careers in the field of business.
Chessman defined Commerce Education: "Commerce education is that form of instruction which both directly and indirectly prepare the business man for his calling."
Fredrik G. Nichols defined: "Commerce education is a type of training which, while playing its part in the achievement of the general aims of education of any given level, has for its primary objective the preparation of people to enter upon a business career, or having entered upon such a career, to render more efficient service therein and to advance from their present levels of employment to higher levels.
Commerce education has been developed to support the growing manpower needs of business enterprises.
The education imparted to the students of commerce intended to equip them with the specialized skills useful in different functional areas of trade, commerce and industry. Continuous supply of quality manpower is essential for the growth of the industry sector. This necessitated the skilled manpower to manage the process of industrial reconstruction and the rapidly growing trade and commerce. However, over the years, there has been a fundamental shift in the very approach of commerce education from a professional to a theoretical education. With a quantum jump in business scenario, there is a need to redefine the commerce education in the changing scenario and strengthen it further. The Commerce education plays an essential role in today's dynamic business environment. The rapid trend of globalization and technological changes have made difficult for organizations to survive in the competitive world. As a result, the importance of Commerce education has been increased many folds. Business executives need to update their skills due to sudden changes in the external environment. Due to the increasingly complex nature of organizations and businesses, there is a need that the business schools impart relevant, current, and cutting edge knowledge to the students.
A successful course in Commerce exposes the student to different business administration strategies and accounting principles. (S)he will be envisaged to make full use of that expertise gained to build up a strong entrepreneurship and successfully fit into a company‘s financial backbone. Many industry experts believe that a good Commerce graduate will be well versed in all the horizontal and vertical aspects of company management and he is the key to a successful business along with the co-operation of his subordinates who should also be like him obviously. Free economy offer new challenges as well as opportunities to universities around the world commerce in general and of business education in particular.
(From: https://www.researchgate.net/publication/313288879_Challenges_Opportunities_in_Commerce_Education)