The commerce stream after completion of class 10 is quite a popular choice in India, as most students feel that the stream offers them a wide arena of career options to pursue after class12, that would bring them both success as well as financial security easily. With this demand from students, commerce education has changed manifold. After India embraced the liberalization, privatization and globalization policy the dynamics of the business world has changed and therefore, the education system that strives to provide the quality workforce to the changing environment of business and commerce must also undergo revolutionary changes.
Choices after class 10: Commerce Stream
True education is not awareness of facts, but of ethics. It leads us to the realism of life and endurance of the human pursuit. The world is shifting at a very high-speed. Globalization, liberalization, and privatization had an impact on commerce education as well. Writing on commerce has been reviewed on the basis of papers presented in All India Commerce Conferences and also on the papers in print in refereed journals.
Most of the scholars opined that commerce courses are not able to get together the dissimilar types of challenges posed by Industry and Business and that the education was not practical oriented and did not help in building up the skills and behavior of young people. As a result, there is a call for its development and innovations to guide the present educational system. Commerce education plays a very vital point in the shifting business world. It is the largest part which leads to achievement in all sectors of the financial system. The education imparted to the commerce students includes lecturing, group discussions, brain-storming, imitation movements, role-play, seminars etc. Lecturing seeks to present a large quantity of information in a tablet form. Communication and group discussions will help them engage in the subject and build their confidence. Brain-storming sessions help the students to increase their innovative minds. Casing method makes them recognize the subject; receive better communication skills, problem-solving foundations and many more. Commerce education is important because as a student it helps them in getting a feel of the business world; while preparing them for self-employment and testing their entrepreneurial abilities. It also helps them to know the importance of applying financial ethics while making business decisions. It teaches them to face the market condition and get a feel of the present situation.
We are living in a self-motivated world where a man with his supernatural understanding first tries to know the environment, exploit it, and then starts manipulating it. Earlier, wealth was one and the same with the money of yellow gold. But the times have changed and today, it the time of grey gold, and with a big capacity of the greatest of it available in India, the opportunity of our country to come forward, as a fantastic power in the next 20 years is not unbelievable. The main motive of stating these examples is to bring to an understanding that the students must be trained to change whatever they study in the classroom into extra realistic information. The students must be trained how to exchange information into wealth. The commerce education of today will have to bring in the order of thoughts and innovations. Besides, it will also be very necessary to train the students to carrying out these thoughts and innovations in practical fields.
The development of commerce education can be understood all the way through its environment. It is a socio-behavioral knowledge i.e. it is the discipline, which studies social activities or human performance with the behavior of business actions. For this, the institutes of higher education are required to take up certain measures so as to promote commerce education. It must be understood that taking up commerce will not only make the students to learn the technological aspects of business, or turn a young man into a great businessmen of tomorrow, but it also educate one on the ethics and moral principles. Like any other field of education, commerce education must be imaginary as well as practical. In fact, a genuine education will be one which provides liberty of thought, decision, and freedom from any form of dogmas.
I believe that commerce Education is the backbone of a country’s economic system. Commerce education plays as a piece of machinery for the renovation of human beings into human funds giving to the need of the world. Commerce education plays a major role in preparing our entrepreneurs in facing the challenges of energetic business worldwide. Thus, the syllabus of commerce education must be made bearing in mind the practical characteristics of trade & commerce. It is essential that the institutes providing commerce education must collaborate with industries for practical characteristic and should have industrial training for students creating a lively interest in developing entrepreneurship and commerce education.
Degree of Thought is a weekly community column initiated by Tetso College in partnership with The Morung Express. Degree of Thought will delve into the social, cultural, political and educational issues around us. The views expressed here do not reflect the opinion of the institution. Tetso College is a NAAC Accredited UGC recognised Commerce and Arts College. The editors are Dr Hewasa Lorin, Tatongkala Pongen, Aniruddha, Meren and Kvulo Lorin.
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