If you ask the meaning of the word commerce to a layman, he will reply as it is about business and finance and like that. In reality, commerce is actually one of the business branches. Commerce deals with the goods and services exchange. It also covers all the activities and processes that are involved in the exchange. Today, we get almost everything from all over the world at any place, let’s take chocolates, accessories, games, branded items or anything. It is all due to commerce. All the goods that are produced should be consumed. Commerce facilitates this process by arranging appropriate distribution channel, because of which the goods are bought and sold in the smooth manner.
In the previous age, human wants were very basic, like roti, kapda aur makaan. But nowadays, there are many things included in that list and it is never ending. These are the secondary wants of humans. Today we can buy all the luxurious items in any part of the world. Commerce has made it possible that almost everything is accessible to us from anywhere. By making everything handy, commerce has made its addition in the promotion of social welfare. People’s standard of living has also increased due to this, as more and more employment opportunities are generated today in the fields like banking and insurance, advertising, transport, warehousing, etc. Commerce is also responsible for encouragement of international trade. The surplus commodities are exchange and via this, the foreign exchange is earned. It contributes in making economic growth faster, as we import the advanced machinery and the sophisticated technology. Commerce also acts as a link between producers and consumers, as consumers can convey their likes and dislikes through marketing research.
The seeds of industrialization are laid down when the underdeveloped countries import skilled labour from developed countries and developed countries import raw material from underdeveloped countries. Once again the credit of this exchange goes to commerce. Today, the concept of E-commerce is also mushrooming in the country with great speed. It means the virtual business transactions through internet. You can order a product online and get all details of it at just one click. It is making addition to the revenue of business from small firms to the big ones. Today you can get a lot of customers for your business through E-commerce as internet is just like a huge target bazaar online these days.
Universities offer educational course in commerce and the degree is Bachelor of Commerce. In this course, students get to learn the organizational behaviour, quantitative analysis and business principles. Those who are interested very much in commerce, can also go for masters degree in commerce, i.e; M.Com. After getting the degree, one can pursue further courses like MBA or can become Chartered accountant by doing course for it and many other options are rising up today.
Career options for commerce students range from accounting, banking and insurance, business economics, marketing, statistics, taxation, financial markets, entrepreneurship, human resources, industrial psychology, communications, operations management, public policy, government, management, law to organizational studies.
There are a number of opportunities rising up in the field of commerce today. Commerce is on the way of making the world a ‘global village’ gradually, by connecting every part of the world to the other.