Need for business education at school level



Hyderabad: Gone are the days when education focused on imparting knowledge only to the learner. With the changing dynamics of the modern world, the focus of education has rightly shifted towards “job creation”, as well as a regular teaching-learning process.

Education is in vain when it fails to provide a job for the learner. Arriving as a godsend, the new National Education Policy (NEP) 2020 paved the way for an education system focused on job creation.

Over the past decades, the business sector has established a trend of employing significant numbers of college graduate students. Not only to meet customer needs, large companies virtually control the demand for a product as well as the price at which it will be supplied.

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It’s no secret that in response to the changing environment, businesses are calibrating themselves to operating online through electronic marketing platforms.

Electronic accounting software such as Tally, electronic tax platforms, and faster growing financial technology companies are examples to support the argument that companies are taking over all spheres of human life.

With the proliferation of e-commerce platforms and India becoming one of the largest consumer markets in the world, employment opportunities in business, commerce and accounting have mushroomed over the years. last decade. It won’t be wrong to say that business education is one of those rare courses that leads to a quick job.

The trend shows that two-thirds of students who join first-year undergraduate courses have chosen a Bachelor of Commerce degree in India. In addition, the opening of more colleges specializing in business education confirms that commerce as a field is becoming popular among young people.

It is ironic that in our education system, a student has to wait until intermediate level or graduation (BCom) to become familiar with subjects like business, commerce and accounting, even if its importance is irrelevant. no less than the regular subjects taught. from school level.

While commerce can offer a plethora of employment opportunities, a student should wait until the undergraduate course to learn more about the subject. So now is the time to seriously think about introducing business education, which is popular all over the world, at the school level.

Current system

In our current education system, subjects such as mathematics, general sciences, social studies and language tests are taught from primary school. Students opting for the sciences or humanities stream are in a better position compared to their counterparts joining the commerce stream at the intermediate level.

The current middle class system will cease to exist once the new NEP 2020 comes into effect which suggests 5 3 3 4 over the current 10 2 3 system. It is therefore highly desirable to introduce business courses in class 9.

This will allow students to learn accounting, commerce and other business-related subjects starting at school level. The NEP 2020 therefore creates the possibility of integrating business education into school.

School-level commerce

The introduction of the school-level business program will deepen students’ understanding of business-related subjects. It will also promote entrepreneurship among students.

Business education encourages one to be a job giver rather than becoming a job seeker. Alternatively, a business graduate can pursue a career as an auditor, accountant, business consultant, stock analyst, investment banker, etc.

The required awareness on business education among students will guide them in choosing better career goals that will lead to occupations for which demand is increasing. It is now established that commerce has become an attractive alternative for students who do not wish to pursue engineering or medical studies.

In addition to business education, in the future we need to introduce other employment-oriented courses at school level. This will fulfill both the parameters of a good education system, namely the transmission of the required knowledge and the provision of the desired employment opportunities.

The slogan of the new NEP – “Not just learn, do! Can only be achieved when our students use their knowledge in their profession.

Dr RamaKrishna Bandaru
Assistant professor,
School of Business and Economics,
Renowned KIIT University, Odisha

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