Focus On
Commerce
Books on Commerce
Commerce is the creation, valuation, movement or buying and selling of goods, services or ideas in exchange for something, real or imaginary, of proportional and common value. From a business perspective, commerce entails all the branches of administration: - Accounting:keeping accounts, at an organizational level, of the cost of goods and services bought, produced or created and monetary values received in exchange for such goods and services.
- Economics:
- Analyzing, at the micro and macro levels, activities related to cost of goods and services produced or created and monetary values received in exchange for such goods and services.
- Explaining such activities through the use of mathematical formulas and graphical means.
- Devising statistical models derived from the aggregate of the above activities; establishing the cycles, frequencies and probabilities of such activities; estimating future activities.
- Allocating resources to maintain fair, proportional and dynamic equilibrium of such activities at the macro level (reducing or making provisions for shortage in the market of exchange by recommending to governments, the proper actions necessary to free up or tighten monetary or fiscal instruments in efforts to reach or maintain dynamic equilibrium of supply and demand of the values produced or created.).
- International trading of goods and services, including capital goods, money, commodities and natural resources.
- Finance:a special branch of economics that is concerned with the efficient and effective allocation of monetary resources at an organizational level as opposed to monetary theory and analysis that is concerned with financial resources at a macro level.
- Quantitative Methods or Decision Science and Information Systems:
- A special branch of economics derived from mathematical economics and econometrics related to item 2(a) above.
- The computerization of the process
- Management:
- Efficient and effective allocation of resources to meet internal and external demands for:
- Physical resources
- Human resources:the buying and selling of human resources; training, communication, negotiation, appraisal, motivation etc.
- Devising policies, plans, strategies and tactics; rules and regulations to comply with social needs, commercial goals and legal requirements.
- Marketing:
- Market research and analysis:
- Forecasting and trend analysis
- Estimating Demand functions (Managerial Economics)
- Predicting and Monitoring Buyer behavior and need analysis
- Problem solving:providing products and services that buyers want or need to solve their problems or satisfy their desires
- Product research, analysis and design
- Packaging for appeal
- Pricing:determining exchange value through differentiated pricing and testing
- Establishing distribution channels and points of exchange.
- Communicating the offer.
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From a customer point of view, commerce is viewed from a retail perspective. Namely, the buying and selling of goods, services, ideas and opportunities for the purposes of fulfilling obligations, solving problems and or gaining satisfaction. These activities entail the following components: - Accounting:
- Personal income tax preparation
- Economics:
- Consumer behavior
- Consumer demand
- Consumer saving
- Consumer credit, borrowing and spending
- Consumer spending power
- Taxation
- Education:
- Personal growth
- Career development and financing
- Finance:
- Personal finance:budgeting, credit application
- Investment, wealth accumulation, estate planning etc
- Marketing:
- Basic needs: the need for food, shelter and clothing
- The need for satisfaction:
- Affiliation:belongingness, to fit in or gain acceptance
- Caring:to give comfort and support to others in need, including other living thing
- Support:to receive help and support from others
- Sexuality:sexual attractiveness and desirable
- Recognition:pride, respect, prestige or superior status
- Independence:freedom to make one's own choices.
- Power:the need for revenge, to dominate or to exert power over other
- Achievement:to accomplish difficult challenges
- Novelty:to excite the senses, to exercise the mind and body
- Understanding:to recognize, learn and comprehend
- Security:to be safe and to avoid harm to self and others
- Control:to maintain clean orderly environment
- Greed:to display, gluttony and self-indulgence, to get something for nothing (money, goods or services)
- Saving:to save time and/money or get more quality for less
- Convenience:to save time and effort
- Durability:to buy products that will last
- Performance:to buy products and services that live up to the promise of their offers or do more than they promise.
- Fulfill obligations:
- Exchanging values for goods and services
From a non-commercial perspective, commerce entails: - Government
- Government supply of public goods and services
- Payment for public goods:school taxes, property taxes, income taxes etc
- Payment of penalties:fines, court judgments etc
- Non-profit groups and organizations
- Educational, social, economic, political and religious goods and services
- Fulfillment of the need for satisfaction:
- Affiliation:belongingness, to fit in or gain acceptance
- Caring:to give comfort and support to others in need, including other living thing
- Support:to receive help and support from others
- Sexuality:sexual attractiveness and desirable
- Recognition:pride, respect, prestige or superior status
- Independence:freedom to make one's own choices
- Power:the need for revenge, to dominate or to exert power over other
- Achievement:to accomplish difficult challenges
- Novelty:to excite the senses, to exercise the mind and body
- Understanding:to recognize, learn and comprehend
- Security:to be safe and to avoid harm to self and others
- Control:to maintain clean orderly environment
- Greed:to display, gluttony and self-indulgence, to get something for nothing (money, goods or services)
- Saving:to save money or get more quality for less through group activities and group buying
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