Emerging challenges and trends in commerce education in India

Abstract

Commerce education is business education. Commerce education is that area of education which develops the required knowledge, skills and attitudes for the handling of Trade, Commerce and Industry. Business and Commerce are performing arts requiring inculcation of professional operative skills. However, every art and skill requires scientific knowledge as basic foundation in theory. Acquisition of theoretical knowledge sharpens human faculties of mind and intellect. Thus, a system of business and commerce education should equip the student with the knowledge of theory which he should apply in performing and practicing art, and getting knowledge from experience. We stress on training in applied business-science is a part of social responsibility of business. Business and Commerce education should be oriented to the practical problematic micro and macro situation. This orientation would enable a commerce graduate or a business graduate to meet several challenging situations in managerial decision-making. Commerce and business graduates must imbibe the fundamentals of language, logic, simple mathematics and business communication skills which create the power to think logically and present the problem in a lucid language. It is necessary to adopt an integrated approach which assumes that management of business and commerce should not be increasingly divided. Commerce education should be on total personality against the Government policies creating uncertainty and difficulties created by bureaucracy. Education in business and commerce should create a personality which is not only adaptable but of a high moral character. While keeping in line with the developments in technology and computerization, basic social and Indian values, Indian culture and tradition and typical problematic situations which are Indian should never be lost sight of, while imparting business and commerce education in India. The growing phenomenon of globalization, liberalization and privatization has been immensely influencing the Commerce Education. Alvin Toffler in his famous book "Future Shock" says that, “To help avert future shock, we must create a super industrial educational system and to do this, we must search for our objectives, methods in the future rather than past. Education must shift into future tense.” The Higher Education sector in India is very vast. \u