Define commerce and Its Types.
Commerce includes all these activities which play a key role in moving goods from the place of production (producers) to the place of final consumption (consumers). In a nutshell, we can say that trading can be defined as all actions related to buying and the sale of goods and services. In other words, trade is the movement of goods from the men who produce them (the producers or manufacturers) to the men who end up consuming them (the end users).
What are the Objectives of Commerce
- Profitability – This is one of the most important objectives of commerce. We normally set up a business to achieve profits for its owner or shareholders. But, does it mean that businesses should somehow, by hook or crook, earn a profit? Our answer is no; it should earn profit by working under rules and regulations or by following ethical practices.
- Growth – Another important objective of commerce is to achieve growth. The growth should be in terms of an increase in profit, revenue, capacity, number of employees and employee prosperity, etc.
- Stability – Stability means continuity of commerce. An enterprise or business should achieve stability in terms of customer satisfaction, creditworthiness, employee satisfaction etc. A stable organization can easily handle changing dynamics of markets.
- Efficiency – An efficient or aggressive working environment. Commerce should always try to achieve the best in its field. Efficiency is considered in terms of labour productivity, energy consumption, quality control etc.
- Survival – A business should have the capability to survive market jolts or shocks. Commerce should be there with a vision of long-term existence
Define the IMPORTANCE OF COMMERCE
If we define Trade commerce, commerce is an organization that deals with the exchange of goods between industries and the industrial world, but in a broader sense, trade is a subject related to the exchange of goods and services, as well as directly related activities or indirectly to the exchange.
Commerce is one of the factors that lead to improvement in exchanging one product for another. But now, thanks to progress, we can have the opportunity to capture anything from anywhere in the world. As a result, the growing demand for humans increases the breadth of this field, with people exploring the needs and aspirations of the people and promoting social well-being.
In a nutshell, commerce bridges the gap between producers and consumers because production is meant for ultimate consumption. Consumers build a connection between producers and consumers and among retailers and wholesalers. Detailed Guides in Define Trade Available.
Types of Commerce
There are mainly 6 kinds of Commerce business. Define Trade have more stuff on the website.