1) Commerce education is important for building nations and bridging economic gaps by training professionals like economists, accountants, and managers.
2) Both formal education in classrooms and informal education outside of classrooms are important for commerce education, though formal education must meet standards and curriculum while informal is more flexible.
3) Modern commerce education needs to cover diversified fields like management, finance, marketing, and law on dynamic and systematic lines as seen in developed countries to better plan businesses and allocate resources.
1) Commerce education is important for building nations and bridging economic gaps by training professionals like economists, accountants, and managers.
2) Both formal education in classrooms and informal education outside of classrooms are important for commerce education, though formal education must meet standards and curriculum while informal is more flexible.
3) Modern commerce education needs to cover diversified fields like management, finance, marketing, and law on dynamic and systematic lines as seen in developed countries to better plan businesses and allocate resources.
1) Commerce education is important for building nations and bridging economic gaps by training professionals like economists, accountants, and managers.
2) Both formal education in classrooms and informal education outside of classrooms are important for commerce education, though formal education must meet standards and curriculum while informal is more flexible.
3) Modern commerce education needs to cover diversified fields like management, finance, marketing, and law on dynamic and systematic lines as seen in developed countries to better plan businesses and allocate resources.
1) Commerce education is important for building nations and bridging economic gaps by training professionals like economists, accountants, and managers.
2) Both formal education in classrooms and informal education outside of classrooms are important for commerce education, though formal education must meet standards and curriculum while informal is more flexible.
3) Modern commerce education needs to cover diversified fields like management, finance, marketing, and law on dynamic and systematic lines as seen in developed countries to better plan businesses and allocate resources.
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Commerce Education: Building Nations and Bridging Gaps
Dr. Rabindra Kumar Swain
Introduction Education is an important tool that contributes to several aspects of a person’s life. Being educated is always looked at as a positive achievement that feels good and looks good. A proper education can almost assure someone of making more money in his or her life time. Education is the key that allows people to move up in the world, seek better jobs and ultimately succeed fully in life. John Adams Quoted “There are two types of education. One should teach us how to make a living, and the other how to live”. Two types of education that exposed to the world are formal education and informal education. Formal education is classroom –based, provided by trained teachers. Informal education happens outside the classroom. In after-school programs, community –based organizations, museums, libraries, or at home. Both formal and informal education settings offer different strengths to the educational outreach Project. Formal education needs to meet the educational standards and stick to a specified curriculum. Informal education, on the other hand, is more flexible with their widespread content. However, both formal and informal educations are the twins complementary to each other.
The major role of education is to create an educated society. In the culture today, there is a huge emphasis on education, especially higher education. Society usually says, “The more educated, the better of a person will be.” That is true if a person lives by the means of society. The basic idea that education, especially a college education is something that people should pursue even into their adult years.
Commerce Education In order to attain economic growth, one needs professional Economists and Accountants with advanced practical training to evaluate and analyze the complexities of the large-scale financial management. In this era of mass production and large-scale industries, along with outstanding growth in-service sector, we need trained and qualified managers to control huge financial investment; production, labour and to deliver quality services. Commercial experts have to play another very important role in the field of salesmanship and proper advertisement. In this cutthroat competitive world, extensive salesmanship and advertisement are necessary tools to maintain a challenging position in the market. Keeping in view the above facts and demand of the time, prospects of Commerce as education and Profession seems very bright in India, to avail the advantage of this requirement; many people have opened educational institutions to educate students in the field of Commerce and Management. Despite the fact that many educational institutions are producing good number of graduates in commerce. The required achievements are not there. Many educational institutes have become special purpose vehicles for conversion of black money because in India education is still a charity. Further, in the exciting field of economic design. We are trying to apply market mechanisms to deal with such problems as reducing emission of pollutants: improving biodiversity: providing greater R & D incentives to private companies to develop and efficiently allocate the resources amongst potential users.
The importance of commercial principles is also apparent in the not for profit sector. This is reflected in the weight that so many of these organizations now attach to them and in their desire to learn from (as well as to teach) the private sector. Thus, the skills that come with a commerce degree are relevant in every corner of society for running successful private companies, for governments to be able to contribute the greatest good to society, and for socially effective not for profit organizations,. The exciting prospect about graduating with a commerce degree is that it offers endless opportunities for doing valuable work where you will know that your role has been essential.
Need of the Hour
If we look at some of the developed nations, we may feel that we have not reached the stage of promoting advanced commercial education. On the lines of advanced industrial countries we can think of designing our courses.
Modern Business and Commerce Education cover diversified fields of education and research in Management, Finance, Marketing, Accounting and Commercial and Business Law. In industrialized countries, Commercial Education is organized on dynamic and systematic lines. Their experts are able to plan and design finance, establish and operate big factories in months while in India; it takes years to do so. Unfortunately in our country, commerce was not given a fair chance as education or as profession. In past, we treated it inferior to Medicine and Engineering in every respect.
There are several other issues which are responsible for neglect of Commerce education ranging from philosophy of our nation to the apathy of its own stakeholders. It is not that we are unaware of them. On one hand we have established institutions of very high quality like institute of Chartered Accountant, Institute of Cost Accountants. Institute of Company Secretary, Institute of Management etc. but on the other hand we have miserably failed in imparting quality education in commerce at the UG and PG level. For the sake of quantity, we have sacrificed quality to such an extent that today we are being eclipsed by the management as an independent faculty. Our presence is shrinking, it is a comment and it is a challenge. Let us face it collectively and resolve it today that we shall commit ourselves to give justice to our mother faculty. We may think of national curriculum of UG and PG courses. In the era of technology, commerce cannot ignore the significance of modern technology. Therefore, the teachers and students of commerce must learn to adopt the requirements as demanded by the society of 21st century. we must think of organizing workshops to prepare details of such schemes. This will have to be given top priority as our fields of accounting, banking, insurance, marketing, finance etc. have been occupied by non-commerce persons. It is our failure. Applied computer and mathematics need to be incorporated in all syllabi. The Agenda for 2030 The scope and demand for Commerce education is increasing and the new paradigm, in commerce education, involves creation of intellects and that means promotion of global standard in institution of higher education of world standard and also training of skilled human power at a mass level without compromising on quality and that means making quality as an integral part of working of institution of higher education.
This suggests the need for a forward-looking strategy for generation of human recourses, which safeguard out interest at a global level and also satisfies our internal need for skilled human power. Emerging national needs require Indian higher education to organize itself to educate students for competence and skill to succeed in an independent world.
If this national agenda for change is to develop, every institution of Commerce education in India must commit itself to providing all of its students with in-depth knowledge and understanding in their chosen field of studies. This has to be done at a globally acceptable level while keeping the ground realities of access and equity in focus.
In India, broadening access to commerce education is an ongoing process and shall continue to be so. It is particularly important to help the disadvantaged group whether because of caste, or creed, or gender to overcome the endemic problems that exclude them from the system. We will have to make proactive efforts to attract young members from disadvantaged group in the main stream of education by devising well-designed and consistent remedial support both at academic and financial level.
A perfect harmony of proper Commerce Education and Effective Governance Model is the only joint venture that can ensure progress of our nation at a pace to match our ability to become superpower by 2030.
