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DIMAPUR — In 2023 HSSLC exam, the overall pass percentage in Commerce stream was 85.83%, as compared to 74.39% in 2021. However, the number of students opting for this stream is relatively lower compared to other streams. So, how well-informed are students when it comes to choosing the right path after their board exams? Lezo Putsure, Founder/ CEO, Educentre School of Business shares with Eastern Mirror a brief overview of the Commerce stream for students who recently appeared the Class 12 exams.
Educentre collaborates with students, entrepreneurs, startups, and is a business incubator based in Nagaland. Putsure also worked with over a thousand young entrepreneurs across Northeast region to date. With an MBA in Entrepreneurship from London South Bank University, London and having studied Strategy at Harvard Business School, U.S., he brings valuable perspective to today’s interview.
What key factors should students consider when selecting the most suitable path in Commerce stream after completing Class 12?
Firstly, students must assess their interests and strengths. Understanding what subjects and areas of commerce they excel in and enjoy can guide them towards a suitable career path. Secondly, they should research career options within the commerce stream to align their academic choices with their future goals. Additionally, considering the job market demand and growth prospects in different sectors can help in making an informed decision. Academic performance in Class 12 plays a significant role, especially if students are aiming for competitive programmes or universities. Strong grades can open doors to prestigious institutions and scholarships, providing a solid foundation for a successful career in commerce. However, it is essential to remember that academic performance is just one aspect, and practical skills, internships, and extracurricular activities also contribute to a well-rounded profile. I would advise students to explore their options thoroughly, seek guidance from mentors or career counselors, and stay adaptable to changing trends. Networking, gaining practical experience through internships or part-time jobs, and continuous learning are key to building a successful career in commerce. Ultimately, choosing a path that aligns with their passion and strengths will lead to long-term satisfaction and success.
How can the lack of awareness about this stream among parents potentially impact their ability to effectively guide their children in choosing the appropriate career path?
The lack of awareness among parents about the commerce stream can significantly impact their ability to provide informed guidance to their children. Firstly, parents may not be familiar with the diverse career opportunities available within commerce, leading to limited exposure and understanding of potential career paths for their children. It translates into challenges as students may receive limited or outdated information from their parents, leading to misconceptions or biases about certain careers within commerce. For example, parents may not be aware of emerging fields like Financial Technology (FinTech) or digital marketing, which offer lucrative opportunities for students but require specialized skills and knowledge which will lead to several consequences. Secondly, students may not explore their full potential or consider non-traditional career paths within commerce, limiting their career options. Thirdly, they may face challenges in aligning their academic choices with their interests and future goals, as parental guidance plays a crucial role in shaping their educational decisions.
My advice would be for parents to maintain open communication with their children, listen to their interests and aspirations, and provide guidance based on informed research and understanding of the commerce sector. Encouraging curiosity, adaptability, and lifelong learning is key to preparing children for successful careers in an ever-evolving business landscape.
Can you share us alternative courses available for students after completing Class 12, besides B.Com?
There are several alternative courses that offer diverse career pathways for commerce students. These include Bachelor of Business Administration (BBA), Bachelor of Economics (B.Econ), Bachelor of Accounting and Finance (BAF), Bachelor of Financial Markets (BFM), Bachelor of Management Studies (BMS), Bachelor of Statistics (B.Stat), Bachelor of Hotel Management (BHM), Integrated Law Programs (BA LLB/BBA LLB), Chartered Accountancy (CA), and Cost and Management Accountancy (CMA), among others. These alternative courses offer specialized knowledge and skills in specific areas such as business administration, economics, finance, management, statistics, hospitality management, law, and accounting. They provide in-depth training and prepare students for diverse career roles beyond what a general B.Com program offers. For instance, BBA graduates can pursue careers in management, marketing, human resources, and entrepreneurship. BAF graduates can become chartered accountants, financial analysts, or tax consultants. BHM graduates can work in the hospitality and tourism industry, while CA and CMA professionals have opportunities in auditing, finance, and strategic management roles, among others.
Do you think Commerce courses have the potential to provide a good foundation for aspiring entrepreneurs?
Commerce courses can indeed provide a strong foundation for aspiring entrepreneurs in several ways. Firstly, they offer a comprehensive understanding of business fundamentals such as accounting, finance, economics, marketing, and management, which are essential for entrepreneurial success. These fundamentals provide entrepreneurs with the knowledge and skills to manage finances, analyze market trends, develop marketing strategies, make informed decisions, and create sustainable business models. They also foster critical thinking, problem-solving, and decision-making abilities crucial for navigating the challenges of entrepreneurship. Skills such as financial literacy, budgeting, financial analysis, investment evaluation, and risk management within commerce courses are crucial for entrepreneurs to effectively manage their resources and make sound financial decisions. Additionally, knowledge of marketing strategies, consumer behavior, branding, sales techniques, and digital marketing can help entrepreneurs promote their ventures and attract customers. Commerce courses often include modules or subjects on entrepreneurship, innovation, business planning, startup management, and strategic thinking. These components encourage students to think creatively, identify market opportunities, develop innovative solutions, and cultivate an entrepreneurial mindset focused on growth, adaptability, and resilience.
What is your take on students debating between a commerce undergrad and vocational or professional programmes?
Students should consider several factors to make an informed decision. Firstly, they should assess their interests, strengths, and career goals. Commerce programmes offer a broad foundation in business disciplines, while vocational or professional programmes provide specialized training for specific careers. Commerce programmes typically focus on business subjects such as accounting, finance, economics, marketing, management, and entrepreneurship, with a balanced mix of theory and practical applications Commerce programmes equip students with a diverse skill set including business acumen, financial literacy, analytical thinking, and communication skills, making them versatile for various roles in business, finance, management, or entrepreneurship.
On the other hand, vocational or professional programs provide hands-on training, industry certifications, and practical skills tailored to specific professions, enhancing career readiness in those fields and have a more specialized curriculum aligned with industry standards, emphasizing practical skills, internships, and industry certifications. Graduates of commerce programmes can pursue diverse career paths in areas such as banking, finance, consulting, marketing, human resources, and entrepreneurship. They may also continue their education with postgraduate studies or professional certifications like Chartered Accountancy (CA), Certified Management Accountant (CMA), or Master of Business Administration (MBA). On the other hand, graduates of vocational or professional programs enter directly into specific professions such as engineering, nursing, information technology, culinary arts, graphic design, or hospitality management, equipped with industry-specific skills and certifications required for those roles.
What are the practical applications and value of holding a certificate in Commerce in today's job market?
A certificate in commerce offers practical applications across various sectors and roles in today's job market.
• Firstly, it provides specialized knowledge and skills in areas such as accounting, finance, taxation, auditing, financial management, and business analysis, which are essential for roles in finance, accounting, and business administration.
• Holding a certificate in commerce enhances career prospects by demonstrating expertise and proficiency in specific areas of commerce. Employers value these certifications as they signify a higher level of competency, industry knowledge, and commitment to professional development, making certificate holders more competitive in the job market. There are several industries where a certificate in commerce is particularly valuable. For example, in the finance and accounting sector, certifications such as Chartered Accountancy (CA), Certified Management Accountant (CMA), Chartered Financial Analyst (CFA), or Financial Risk Manager (FRM) are highly regarded and open doors to roles like financial analyst, auditor, tax consultant, or financial manager. In addition, certifications like Certified Public Accountant (CPA), Certified Internal Auditor (CIA), or Certified Fraud Examiner (CFE) are valuable for professionals in auditing, compliance, and forensic accounting roles. Similarly, certifications in financial modeling, investment banking, or risk management are sought after in the banking and investment sectors.
• A certificate in commerce adds value to an individual's skill set by providing specialized knowledge, practical skills, and industry-relevant certifications that are recognized and respected by employers. It validates expertise in specific areas of commerce, enhances problem-solving and decision-making abilities, improves financial literacy, and boosts career advancement opportunities.
I would advise the student to carefully research and choose a reputable certification programme that aligns with their career goals and interests. They should consider factors such as programme content, accreditation, industry recognition, job market demand, networking opportunities, and potential for career growth. Continuous learning, staying updated with industry trends, and leveraging professional networks are also key to maximizing the value of a certificate in commerce in today's dynamic job market.