“The expansion in industry, modernization of agriculture and setting up of commercial centres everywhere justify the promotion of commercial education.”
Ours is a world of commerce. Most of the time, we are busy buying and selling or are engaged in commerce. Commerce is an essential part of our economic and social system. Commercial education is, therefore, of great importance.
What does commercial education do for us?
Firstly, commercial education introduces us to all sorts of commercial activities like retail and wholesale, import and export, banking, insurance, advertising, and so on. Thus, we learn about all the requirements of modern business to be successful businesspeople and business managers. Secondly, commercial education helps us to keep our business accounts in proper shape. Accountancy can help us to rise to the highest positions like those of the chartered and chief accountants. We can become managers and directors of important businesses. We can compare the commercial principles and methods in the Islamic, Western and Socialistic systems. Commercial education can, thus, help us to pick and choose the best commercial methods.
The best ways of teaching commerce should be adopted. First of all, we should teach the basic economic principles in all their details, The principles of demand and supply, competition, investment, taxation, import and export, banking and other related matters should be taught with reference to the present national and international economic conditions.
Secondly, the meaning and scope of commerce and its usefulness in the modern economic and social system should be thoroughly explained. The terms used in modern commerce deserve special treatment. Thirdly, marketing locally, nationally and internationally should be taught with full explanation. There is need to introduce the students to it practically through video films and by taking them round business centers and industrial establishments. Fourthly, the different methods and systems of bookkeeping and accounting or accountancy should be introduced to the students in their basic details.
Fifthly, correspondence, letter writing, report writing, and precise writing deserve a special place in all commerce studies. The students should be made to develop a fine style of English writing. In commerce, a lot depends on how you communicate your ideas and policies to the customers, firms, companies or government departments.
Last but not least (finally yet importantly), the use of the computer for commercial dealings in all forms should be taught well. For this purpose, commerce institutions should have modern equipment and teaching facilities. We should promote commercial education on the most modern lines. If we do not do so and lag (go too slowly) behind other parties and nations, we shall fail to make our mark (fail to act successfully) in the highly competitive world of commerce.
Commercial Education in Pakistan
It is a basic human necessity. Therefore, according to his taste and temperament man has devised various kinds of education like spiritual, general, technical, legal and Commercial education. This variety of education gives a person a chance to Choose and study whatever he likes. In modern times, computer and commercial education have greatly developed. This is why a large number of learners like to study commercial education.
The main aim of commercial education is to teach the students the latest trends, theories, and practices of business. This is very important as well as useful. The subjects of commerce and business have now become advanced and attractive because commerce itself has been making progress at a fast speed at the international level. Pakistan is quite well aware of the needs of the hour. If Pakistan is to progress well economically, it is necessary that our young men should be given training in business administration courses.
In Pakistan, the importance of commercial education was not fully realized at first, However, later on, Commerce classes were started in some colleges. This step was not enough to meet the increasing demands of trained men for our industry. After Some time independent commercial institutes and colleges were established.