Most Common BCom Jobs
Commerce is the action of purchasing and selling.
What is commerce? In particular, on a broad scale, it is purchasing and selling. Both domestic and international commerce entails exchanging products and services between companies or comparable entities.
It can boost an area's production, create jobs, or enhance a community's residents' health and well-being. In addition, since people started trading products and services with one another, there has been commerce.
Humans have long sought ways to exchange products and services and developed distribution processes around those processes, from the earliest days of barter through the introduction of money to establishing trade routes.
Today, "commerce" refers to the macro economy of large-scale organizational purchases and sales of products and services.
A consumer's purchase or sale of a good is a transaction and all economic activity connected to the purchase and sale of an interest in commerce. Most trade occurs internationally, or the buying and selling of things between nations.
There are four main types of commerce:
- Business-to-business (B2B)
Business-to-business trade is the exchange of goods and services between two corporations. For instance, an automaker conducts Business with a manufacturer of vehicle parts.
- Business-to-consumer (B2C)
Businesses make direct sales of goods to customers. A standard instance of the business-to-consumer paradigm is internet shopping.
- Consumer to consumer (C2C)
One customer sells to another through a process known as consumer-to-consumer commerce. Auction websites and online marketplaces are two instances of C2C trade.
- Consumer to Business (C2B)
In this scenario, customers offer the company their goods or services. One illustration is when a sports blogger posts an affiliate link to fitness gear from a gear brand on their social network. Promote the company's services to the audience.
What is the difference between Business and Commerce?
Despite having similar connotations, the words commerce and Business are distinct.
- Commerce is a subset of Business.
It is crucial to understand that commerce is a subset of Business and does not mean the same thing as "business." commerce is a type of Business, and commerce refers to trade and activities associated with it.
Only the distribution of goods and services is included in commerce; neither an enterprise's manufacturing nor production methods are.
The distribution element covers many topics, including logistics, politics, legislation, the legal system, society, and the economy.
- Different priorities
Research for the Bachelor of Commerce focuses on the more significant Business and economic environment. The subject of the Bachelor of Business is the operation of specific firms and organizations. a business degree is better suited for managing a business.
Planning, promoting, selling, purchasing, marketing, bookkeeping, and manufacturing supervision are a few tasks a business must perform. Each company's activity includes commerce, primarily buying and selling.
Most common career paths for B.Com
Before pursuing one, it is beneficial to be aware of the various job options and industries that make up the field of commerce. By becoming familiar with these industries, you can choose the career you want to follow.
Here, we list the typical job pathways for B.Com (Bachelor of Commerce) graduates right out of college and highlight the competencies needed to be a good fit for each.
The following categories describe the most typical BCom jobs:
Accountants offer financial statements, conduct audits, locate cost savings, aid capital raising, and cover mergers and acquisitions.
The financial account, which in macroeconomics covers claims or liabilities to non-residents, particularly financial assets, is one of them.
It is a part of a country's balance of payments. Direct investments, portfolio investments, and reserve assets by sector are among the items that make up the financial account.
An audit is defined as a site-specific validation activity, such as a process or quality system inspection, to verify requirements are being met. Audits may be used throughout an organization or only concerning a particular task, procedure, or production stage.
Some audits are performed with a specific management objective, such as audit documentation, risk or performance monitoring, or the tracking of finished corrective measures.
Mergers and acquisitions (Mergers and Acquisitions) is a general term for integrating businesses or assets through various types of financial transactions, such as asset purchases and management acquisitions of these projects.
It takes a special combination of numerical aptitude, problem-solving prowess, and strong communication skills to succeed as a professional accountant.
One of the most common routes into an accounting job is public practice, also known as certified public accounting (CPA).
As the first step in the process, Public Practices makes university visits in September to recruit students for full-time positions and internships for the upcoming summer.
Marketing places a high priority on revenue, and marketing can encourage business growth. As a result, most companies employ sophisticated marketing tactics and strategies.
The two most frequent ways to enter this industry are through employment with a company or an advertising agency.
Even though accounting and finance are more quantitatively oriented than marketing is, Google Analytics and other digital marketing methods have made marketing more data-driven.
Marketing is a wonderful way to break into finance, accounting, and other departments. As a result, stakeholder involvement and digital communication are increasingly important to accounting firms and investment banks.
The financial sector comprises businesses and institutions that provide financial services to consumers and businesses. The industry includes many businesses, including banks, investment firms, insurance organizations, and real estate corporations.
A wide variety of accounting-related services, including auditing, bookkeeping, payroll processing, tax preparation, management, Business consulting, and risk assessment and control, are offered by companies in the accounting sector.
PWC, Deloitte, Ernst & Young, and KPMG are some of the "Big Four" accounting firms that are among the top companies in the sector.
Additionally, many smaller businesses offer enterprises various accounting services, including year-end accounting, management accounting, and tax and VAT returns.
Finding, vetting, hiring, and training job candidates fall within an organization's human resources (HR) division. Employee benefit plans are also administered by it.
Human resources are crucial when adapting to a corporate climate that is changing quickly and with a higher demand for qualified employees.
HR is a beautiful place to start if you want to work in a subject like finance or accounting but are better with people than with statistics.
The most common majors for human resource professionals are human resource management, organizational consulting, and industrial relations.
The organizational task of handling all matters relating to people in a company is known as human resource management.
It covers various topics, including but not limited to compensation, hiring, and hiring, performance management, organizational growth, safety and health, benefits, employee incentives, communications, policy management, and training.
Organizational consulting is a specialized service that aids businesses in assessing and perhaps reorganizing their present internal structure.
Industrial relation is an academic discipline that combines many different disciplines to study labor relations. Specifically, it refers to the intricate relationship between the state, employers' groups, trade unions, and employees.
Human resources is an excellent place to find a top job in almost every industry, sometimes not as competitive as finance or accounting.
A consultant professional has a particular area of competence and performs other functional tasks in that field.
You can work in the corporate environment as a management or financial consultant.
A management consultant's responsibility is to collaborate with the firm's executive team to assess the Business, pinpoint issues, gather data, and implement recommendations.
In addition to working for consulting firms rather than the businesses they research, management consultants frequently collaborate in teams.
Financial consultants assist businesses in boosting shareholder value and capital efficiency.
It can be their responsibility to assist in designing or packaging merger and acquisition (M&A) compensation plans for senior executives. Corporate finance is a field where many consultants are employed.
Consultants are compensated for their expertise and counsel.
Regardless of the industry, consultants evaluate businesses, track how they achieve their objectives, and help with any necessary business plan revisions.
The insurance sector includes businesses that use risk management strategies, such as insurance policies.
As an underwriter, officer, or agent in the insurance sector, you have various career options.
Insurance agents are how most people typically picture insurance agents. Although this is a broad definition of an insurance agent, it is significant to remember that agents negotiate contracts on behalf of insurance companies.
An insurance agent has the authority to sell and bind a policy while acting on behalf of the carrier, effectively verifying the policy's validity. The airline provides the agent with a sales cap and is compensated with a commission.
Employees of insurance and financial companies are known as insurance officers. The rivalry for open positions is intense because they may sell insurance and are often compensated rather than on commission.
A financial company includes an underwriter. They are employed by firms involved in lending, investments, insurance, or mortgages. They evaluate the risks the other party poses, except those risks, and charge a fee. In most cases, this cost will appear as a commission, insurance, interest spread, or interest.
Companies that offer insurance cover potential losses and promise payments in the future. A firm that provides insurance is known as an insurance company, and the insured is the person who receives it.
Economics' fundamental concerns are creating, exchanging, and consuming products and services. Additionally, it has to do with how the economy functions or how materially wealthy a group of people is.
In economics, there are positions for statisticians and operational research analysts.
Operations research analysts are skilled problem solvers that provide solutions that improve the productivity and profitability of enterprises and organizations.
They utilize cutting-edge methods, including optimization, data mining, statistical analysis, and mathematical modeling.
By researching cost-effectiveness, labor requirements, product distribution, and other operational issues, a corporation engages an operations research analyst to enhance its business processes.
Data is a decision-making tool for statisticians. They plan experiments, gather data, analyze and interpret the data, communicate findings, and decide what data is needed and how to obtain it.
In contrast to most occupations, statistics can be used in various situations or issues involving the environment, public safety, health care, and sports.
This course needs you to research and analyze a wide range of data to make market predictions, create hypotheses, and offer solutions to economic problems.
The structure and strategies in place to manage a company's daily operations.
Operations management and sales both have a wide range of positions.
Managing company procedures to increase organizational efficiency is the focus of the business discipline known as operations management. To balance income and costs and generate the best operational profit, an organization must be planned, organized, and managed.
Sales are any activities involving the sale of goods or services to customers or businesses, according to the definition.
On the other hand, in reality, it implies far more. For example, finding prospects, developing relationships, and offering clients solutions are all steps that must be taken to close a business successfully.
Making sure your company operates smoothly and expands is your main objective as a manager.
You will assist people and organizations in making wise financial decisions when you work in finance.
You will support them with financial planning, asset management, cash flow management, business management, and fundraising.
Financial planning considers a client's whole financial picture and offers advice on meeting short- and long-term financial objectives.
Asset management is boosting overall wealth through purchasing, upkeep, and trading investments with the potential to increase it.
The process of monitoring the amount of money coming into and going out of your company is known as cash flow management.
A firm must go through the capital raising process to obtain funds to launch, grow, or under another type of transformation.
Corporate finance, risk management, and investment banking are just a few financial occupations you can pursue at work.
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