Project Work in Commerce

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Mapping of commerce curriculum with project works.

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PRESENTATION ON PROJECT WORK By :- Dr Sanjeev Jain Principal

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DYNAMISM Commerce Education is the backbone of business. The success in business depends upon the quality of manpower and its utilization. Commerce Education should keep pace with changing trends. In the past exchange/transporting commodity was expensive, time consuming and risky. Commerce was restricted mainly to local markets.

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With the advancement of technology the business has expended, considerably. Today exchange takes place between :- Neighbouring households Neighbouring cities Neighbouring countries PRESENT SCENARIO

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The present world is characterized by fast changing conditions of demand and technology. The world is changing very fast. L - Liberalization P - Privatization G - Globalization The speed of LPG has tremendously influenced the various dimensions of commerce education. PRESENT SCENARIO

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THE DESIRED CHANGE There should be proportionate changes in the Commerce curriculum to commensurate with the competition of the Modern world.

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Commerce subjects are dynamic in nature and should constantly inline with the current world situation. As such, many practical skills are to be developed in the commerce education in the school. Schools should pass on the skills of decision making, human relations and self-management. 3. Secondary business education should focus on productive work habits and attitude development. DESIRED CHANGE

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4. Commerce students must possess communication skills and interpersonal sensitivity necessary in a business world. To meet these expectations, project work is a common method used by many teachers to develop student’s life-long learning skills like :- .creative and critical thinking . communication skills . collaborative learning skills . and skills related to self-directed inquiry. DESIRED CHANGE

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Most of the scholars are advocating re-orientation of the Commerce course from being theoretical driven to practical oriented. The importance of IT and IT related skills must be emphasized. Practical exposure to theoretical concepts taught in the class. THE NEED

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Given the development in the field of Commerce world over and India being a developing nation with rich human resources and predominating an agricultural country with phenomena potential in accounting, legal and electronic fields. It is necessary to review make the Commerce curriculum practical oriented. THE NEED

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JUST IMAGINE An automobile engineer travels in his car driven by his driver. The driver does not have full knowledge of the functioning of the car. The engineer who does not know driving, has knowledge of the functioning of the car.

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Result The owner (engineer) will be at the benevolence of the driver as he has only theoretical knowledge of car mechanism.

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Schools have a major role to play in ensuring that children are socialised into a culture of Self-reliance, Resourcefulness & Peace-oriented Values and Health. Every resource must be deployed to enable children to express themselves, handle objects, explore their natural and social milieu and to grow up healthy. NCF 2005

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IT MUST BE LINKED TO THE CHALLENGES OF LIFE AND CAREER AT DIFFERENT STAGES. IT MUST HUMANISE EDUCATION AND MAKES IT RELEVANT FOR THE PURSUIT OF THE WIDE VARIETY OF HUMAN APTITUDES. IT HELPS THE TEACHER CONNECT HER PRESENT CLASSROOM ACTIVITY TO A CHERISHED FUTURE. IT MUST PROVIDE THE MEANS AND OPPORTUNITIES TO ENHANCE THE CHILD’S CREATIVE EXPRESSION AND THE CAPACITY FOR AESTHETIC APPRECIATION. IT BUILDS A COMMITMENT TO DEMOCRACY AND THE VALUES. NCF 2005

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CONNECTING KNOWLEDGE TO OUTSIDE SCHOOL LIFE. ENSURES LEARNING WITHOUT ROTE METHODS. ENRICHING CURRICULUM BEYOND TEXTBOOKS. MAKING EXAMINATION FLEXIBLE. NCF 2005

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What is going on through the classroom demonstration today? Students are given more theoretical education and less/no practical aspects. The stereotyped system of limiting our knowledge to books alone is being practical from bust many years. THE NEED THE BIG QUESTION IS -

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In the changing world a lot of practical difficulties have erupted. Therefore the education system should accommodate the prevailing and future difficulties. THE NEED THE BIG QUESTION IS -

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Recognizing that business is a dynamic process that brings together technology, natural resources and human initiative in a constantly changing Global environment. Commerce curriculum has been re-framed incorporating LPG, IT, E-Business etc. The Commerce curriculum prepares students to analyze, manage, evaluate and respond to changes that affect business and well supplemented by project work in Business Studies for class XI students and Accountancy for class XII students. CBSE INITIATIVE

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WEIGHTAGE OF MARKS Class XII –Project Work Duration : 1 Hour 30 Minutes Marks : 20 Marks Business Studies Class XI -10 Marks

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A project can be defined as giving practical shape to theoretical learning. It involves practical problems by preparing projects students can have real learning’s. It will help promote in the students qualities of independent thinking and creative work. Project work will help the students in developing the skills to comprehend, analyze and interpret data of the business firms and make it meaningful for taking business decisions. PROJECT WORK

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Traditionally, project work involves numerous face-to-face discussions held among students to discuss the topic, scope and depth of a project. Project building involves important processes such as communication of ideas, negotiation of ideas and incorporation of multiple perspectives. Now a days, technology in the form of an e-learning platform can be employed to hold online discussions in place of the traditional face-to-face meetings. This technology enables students and teachers to work collaboratively online to achieve their common goal - i.e. the building of a project. PROJECT WORK MACRO CONCEPT

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1. The aim of the project is to let students put into practice knowledge and skills they have learnt in class to solve a real-world problem. Project-based learning is an iterative process of building knowledge, identifying important issues, solving problems, sharing results, discussing ideas and making refinements. Through articulation, construction, collaboration and reflection, students gain subject-specific knowledge and also enhance their meta- cognitive caliber. AIM

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In the present session we will be focusing on project work in Business Studies for class XI students. PROJECT WORK

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The course in Business Studies will prepare students to analyze, manage, evaluate and respond to changes which affect business. It provides a way of looking at and interacting with the business environment. It recognizes the fact that business influences and is influenced by social, political, legal and economic forces. It allows students to appreciate that business is an integral component of society and develops an understanding of many social and ethical issues. Business Studies

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Therefore, to acquire basic knowledge of the business world, a course in Business Studies would be useful. It also informs students of a range of study and work options and bridges the gap between school and work. Business Studies

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The session will help us to : To identify project work and help students in knowledge building? How do the students collaborate with the online/dynamic environment? How do teachers facilitate students ? BUILDING OF KNOWLEDGE IN BUSINESS STUDY THROUGH PROJECT

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To acquaint students with the practice of managing the operations and resources of business. To prepare students to function more effectively and responsibly as consumers, employers, employees and citizens. Objectives

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To familiarize students with theoretical foundations of organizing, managing and handling operations of a business firm. To help students appreciate the economic and social significance of business activity and the social cost and benefits arising there from. Objectives

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To develop in students an understanding of the process of business and its environment. To acquaint students with the dynamic nature and inter-dependent aspects of business. To develop an interest in the theory and practice of business, trade and industry. Objectives

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The teachers must discuss with students in detail various aspects of Business organization and related information. Students will identify/analyze relevant data and work out the assigned task/project. The scope of the project should be restricted to Business Studies curriculum. GUIDELINES FOR TEACHERS

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Students will brain storm, learn, present, discuss and collaborate in order to reach some intermediate or final findings or decision before they moved on. PROCESS OF KNOWLEDGE BUILDING

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PROCESS OF KNOWLEDGE BUILDING

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PROCESS OF KNOWLEDGE BUILDING

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Perquisites of a good project:- First page of the file should describe title of work, identity of student, school and the teacher concerned. Index to indicate columns for title of work, page no, date, teacher’s remarks and signature. The format for Project Work should be :- - Facts of the Problem/Topic - Required information - Steps/Fact of the problem - Solution and Presentation of information - Analysis and interpretation of information PROJECT FILE

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The project file to be evaluated. The marks should be awarded based on - Content coverage - Presentation - Completeness and quality of work GUIDELINES FOR EXAMINER

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SAMPLE PROJECT WORK

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1. Visit a local business unit and find out what are their objectives, what steps they are taking to pursue their objectives. 2. Find out from local business units what kinds of risk they are facing. How they overcome such risks. BUSINESS DEFINITION

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1. Find out from local business units number of social objectives they have and what steps are taken by these businessmen to meet their social responsibilities. 2. Find out what ethics are followed by a local businessman and how external factors influence his ethics. SOCIAL OBJECTIVE

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1. Visit a business unit providing outsources services – find out kind of service they are providing, their method of operation and how they are helping the main company. 2. Make a list of firm providing financial services. Find out what kind of help they are providing. 3. Visit a firm providing courier services. Note down their style of working. SERVICES

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1.Visit a bank. Find out the types of accounts they are opening. Collect data regarding various deposits and lending schemes they are planning to offer the customers. 2. Visit an Insurance Company. Find out different types of schemes offered by them. Collect data related to every scheme. AIDS TO TRADE

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3. Visit a financial institution/bank. Find out different kinds of credit cards they are offering. Note down benefits of each category. 4. Collect data regarding latest trend in the communication – Fax, Internet, Messaging, Services etc. AIDS TO TRADE

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1. Visit a partnership firm. Find out whether it is registered or not. Find out the terms and conditions of their Partnership Deed. How they are sharing the profit? What is the status of each partner. 2. Study the problems faced by small units regarding finance, marketing etc. PARTNERSHIP

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3. Visit a consumer cooperative store. Find out how many members are running the store. How they are distributing the surplus. How they are dividing the work among members etc. 4. Visit a Public Limited Company. Find out their objectives, number of member, methods of conducting meetings etc. PARTNERSHIP

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Visit a Public sector enterprise (ONGC, GAIL, SAIL, STC, Railway etc.). Find out from where they are getting finance. How they are recruiting and selecting their employees? How they are using their profit? How they are facing competition with the private sector etc. PUBLIC SECTOR

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Visit a multinational company find out the steps undertaken by the company to establish its office in India. Find out their sales turn-over and profit which they are earning from India. What social services they are providing to people of India etc. MULTINATIONAL COMPANY

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1. Visit a financial institution acting as a promoter and find out steps taken by it to promote the company. Visit the company promoted by it. 2. Visit the Registered Office of a company. Collect a copy of Memorandum of Association, Article of Association, Prospectus, Registration Certificate etc. Note the contents of all the documents. JSC

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1. Visit UTI and find out types of securities issued by it. Rate of Interest offered, number of open ended and close ended securities issued by UTI etc. 2. Visit any small scale enterprise. Find out their capital requirement. Collect the names of financial institutions set up to provide financial help to these units. Find out how these small scale units are arranging capital. Financial Institution

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3. Visit Reliance Company and find out steps taken by them to get listed in US Stock Exchange. How much capital they are collecting from ADR and FDI. Financial Institution

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1. Identity various fixed shop retailers in your locality and classify them according to the different types you have studied. 2. Visit a departmental store and find out its features, style of purchase and sale adopted by them. WHOLE SALE/RETAIL TRADE

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1. Visit a export house. Find out the benefits available to them and collect copy of documents they have to prepare. 2. Types of whole sale and bring out a case for their eliminate from chair of distribution. WHOLE SALE/RETAIL TRADE

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THANKS

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