In the aim of identifying whether the Study of commerce is either an art, science or wisdom I would believe it would be most appropriate to define these terms to allow a deeper and personalized understanding of what these terms mean in the aims of identifying their correlation.
Art is what would connect each individual to their daily lives however; it is more of a “transformation of one’s’ everyday life” through the use of imagination. This is because art is subjective by nature. The Greeks stated that art can only be perceived by only humans and not by the gods which therefore enabled us to create art of the gods. This Art and use of imagination is what humans would use to bridge their ...view middle of the document...
Pertaining to the study of commerce being a science I will begin by distinguishing the types of science (which are used to understand and explain reality which commerce is included in);
Formal (a prerequisite of our knowledge which uses logical avenues to research on a concept ie; Mathematics), Empirical (Bases on its understanding on what can be experienced through senses. However, what is experienced would have to be similar to different individuals as well as in different angles)and Humanistic Sciences which is a newer development which looks at the activities of human beings and aims to understand them because of free will instilled in humans. Ie; Psychology and Sociology.
Commerce and the study of it could be argued to be a formal and empirical science if it were to be analyzed theoretically with the use of an economic perspective. Trade of goods and services is only actualized if there is a need for the product in the economy such as Ostentatious cars.
This can be identified through the analysis of what is being purchased in the economy and at what rate. Factors that would persuade or dissuade commerce could be such as income, inflation, employment, product positioning, market share and economic growth which can all be logically identified using mathematic avenues such as RPI (Retail Price Index) to identify the inflation rate, Employment ratio’s and comparing the Real GDP between years for economic growth.
From utilizing these logical scientific avenues it is extremely possible to identify and predict if and when commerce will take place. Therefore in that perspective, it can be argued that commerce is based on natural and measurable sciences.
However, why is it then that some firms do not succeed in commerce?
This is because the trading partners do not comply with the principles of formal and empirical sciences. These trading partners cannot be dictated by scientific conclusions because they are human beings that make up corporations and bodies who are the source of commerce through the creation of goods/services. Human beings as was mentioned earlier, have free will. This can be explained as the ability to make judgments and decisions based on how the individual sees fit. This free will is what would bar the complete efficacy of commerce because individuals base their judgments on how they feel as well as what they think they need.
If an individual feels they may need an ostentatious home they will purchase it (ceteris paribus). Therefore, commerce is more of a humanistic science However; the basis of the science has been shifted to understand how human beings function in the aims of actualizing commerce. The bachelor of commerce degree can be seen as a humanistic form of science. Factors such as Consumer trends, Advertising possibilities and styles and opinions would be examples of what would increase the effectiveness and efficiency of the degree holders after their training.
However, one would need to note that the...