Why Is It Important To Study Commerce?
by Arnab Dey Startups 18 October 2022
Commerce, put simply, is the activity of buying and selling between two parties on a macro scale.
This exchange can be of goods, services, commodities, or properties and usually involves transportation from place to place. It has been around since the beginning of human civilization and will likely be around for many decades to come.
If you’re looking to study this subject, you’ll find that many universities offer the opportunity worldwide. Studying commerce can give you a comprehensive overview of many economics, management, marketing, and finance topics.
The advantage of having this knowledge is the variety of options and networking opportunities it will give you when you move out into the workforce.
Here Are The Top Five Reasons Why Is It Important To Study Commerce:
It is rare to find courses that offer a wide variety of important content that will put you ahead of the pack. In this article, we’ll go through some of the best reasons why studying commerce is vital for your business career.
1. It Provides Essential Entrepreneurial Skills
In an age filled with self-starters and small businesses being born of just a few entrepreneurial minds, someone looking to succeed from the ground up is expected to be wearing a lot of hats.
Business owners need to know how to manage stock, pay their employees, manage their finances, grow their business, manage taxes, and dozens of other underappreciated skills that can make or break a business in its early stages.
Studying commerce, as well as the more digitally-oriented field of eCommerce, will allow you many of the vital skills required to make it as an entrepreneur, or even just as someone with hopes of succeeding in a business field.
It offers skills in accounting, bookkeeping, business management, research analysis, and more, all essential for making sure you know what you’re doing when it comes time to take hold of a business’ direction.
2. Flexible Study Options
Many tertiary institutions understand that busy professionals typically pursue degrees in commerce. This means that the delivery options are flexible, allowing you to study during or after work, part-time or full-time, depending on how fast you want to progress.
You can also study online courses such as the Masters of Commerce online at RMIT since most institutions are moving to online study and flexible lecture options.
Flexible studying structures are perfect for those with little time, those that live in remote areas, and those that simply prefer a more self-disciplined approach to learning.
This allows for those that are already working within high-level business fields to expand their education during times that work for them.
3. Develop Sound Business Skills
You will need to develop various skills to succeed in business or commerce. Luckily, you can work on and develop most of these competencies throughout your degree. The advantage of studying commerce is the sheer variety of skills acquired, making you well-versed when you venture out into the business world.
Some of the skills developed include communication, which is required to sell effectively, maintain profitable relationships and even pitch proposals.
You will also develop the ability to work within teams, learning to consult with others effectively and deal with differing views. Another critical competency is project management, where you will learn to deliver sound services but provide these services on budget and on time.
4. Increase Employability
Some of the skills mentioned in the previous point will assist the work environment and help employability. Another significant advantage is the variety of topics learned and elective subjects available when studying commerce. Having these multiple topics under your belt will give you the upper hand when presenting yourself to employers.
The topics covered during your studies will include accounting, which is vital in understanding financial statements, balance sheets, and cash flow.
You will also cover marketing, which is essential in learning how to promote or sell services and products. Management is also covered, so you can develop your interpersonal skills and coordinate successful business activities.
All these topics are precious for employers and will put you at the top of their list when applying for your dream position.
5. Build Your Network
A good network is one of the keys to becoming successful as a business professional. Luckily this is a core component in your studies where you will be connected with industry professionals, whether mentors, lecturers, or even students.
Networking is vital because most job opportunities, business deals, and profitable relationships come from having good networks. The study of commerce will make it much more accessible to develop relationships with these individuals.
Takeaway
Very few courses are as well-rounded as commerce. It is excellent for those looking to keep their options open while developing key competencies and understanding the comprehensive picture of global transactions. Whether you’re looking for a career in management, finance, or even running your own business, studying commerce will be a great starting point.
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