1. Commerce:
“Commerce is the activity of buying and selling of goods
and services, especially on a large scale. The system includes legal, economic,
political, social, cultural and technological systems that are in operation in
any country or internationally.”
In
other words, Commerce refers to the exchange of goods, services
or something of value, between businesses or entities. As a broad concern,
nations are concerned with managing commerce in a way that enhances the
well-being of citizens, by providing jobs and producing beneficial goods and
services.
2. Benefits of Commerce:
There are some benefits
of commerce.
i.
Commerce tries to satisfy increasing
human wants
Human
wants are never ending. They can be classified as 'Basic wants' and 'Secondary
wants'. Commerce has made distribution and movement of goods possible from one
part of the world to the other. Today we can buy anything produced anywhere in
the world. This has in turn enabled man to satisfy his innumerable wants and
thereby promoting social welfare.
ii.
Commerce helps to increase our
standard of living
Standard
of living refers to the quality of life enjoyed by the members of a society.
When man consumes more products his standard of living improves. To consume a
variety of goods he must be able to secure them first. Commerce helps us to get
what we want at right time, right place and at right price and thus helps in
improving our standard of living.
iii.
Commerce links producers and
consumers
Production
is meant for ultimate consumption. Commerce makes possible to link producers
and consumers through retailers and wholesalers and also through the aids to
trade. Consumers get information about different goods through advertisements
and salesmanship. The manufacturers are regularly informed about the likes and
dislikes of the consumers through marketing research. Thus commerce creates
contact between the centers of production and consumption and links them.
iv.
Commerce generates employment
opportunities
The
growth of commerce, industry and trade bring about the growth of agencies of
trade such as banking, transport, warehousing, advertising, etc. These agencies
need people to look after their functioning. Increase in production results in
increasing demand, which further results in boosting employment opportunities.
Thus development of commerce generates more and more employment opportunities
for millions of people in a country.
v.
Commerce increases national income
and wealth
When
production increases, national income also increases. In a developed country,
manufacturing industries and commerce together accounts for nearly 80% of total
national income. It also helps to earn foreign exchange by way of exports and
duties levied on imports. Thus, commerce increases the national income and
wealth of a nation.
vi.
Commerce helps in expansion of aids
to trade
With
the growth in trade and commerce there is growing need for expansion and
modernization of aids to trade. Aids to trade such as banking, communication,
advertising and publicity, transport, insurance, etc., are expanded and
modernized for the smooth conduct of commerce.
vii.
Commerce helps in growth of
industrial development
Commerce
looks after the smooth distribution of goods and services made available by the
industry. Without commerce, industry will find it difficult to keep the pace of
production. It helps to increase demand for goods on one hand and on the other
hand it helps industries by getting them the necessary raw materials and other
services. Hence, commerce helps in attaining better division of labour and
industrial progress.
viii.
Commerce encourages international
trade
Through
commerce we can secure a fair and equitable distribution of goods throughout
the world. With the help of transport and communication development, countries
can exchange their surplus commodities and earn foreign exchange, which is very
useful for importing machinery and sophisticated technology. It ensures faster
economic growth of the country.
ix.
Commerce benefits underdeveloped
countries
Underdeveloped
countries can import skilled labour and technical know-how from developed
countries. While the advance countries can import raw materials from under
developed countries. This helps in laying down the seeds of industrialization
in the underdeveloped countries.
x.
Commerce helps during emergencies
During
emergencies like floods, earthquakes and wars, commerce helps in reaching the
essential requirements like foodstuff, medicines and relief measures to the
affected areas.
3. Chamber of Commerce:
“A local association to promote
and protect the interests of the business community in a particular place.”
In
another words, A chamber of commerce (or board of trade) is a form of business network,
for example, a local organization of businesses whose goal is to further the
interests of businesses. Business owners in towns and cities form these local
societies to advocate on behalf of the business community. Local businesses are
members, and they elect a board of directors or executive council to set policy
for the chamber. The board or council then hires a President, CEO or Executive
Director, plus staffing appropriate to size, to run the organization.
Duties of Chamber of Commerce:
The
function of a chamber of Commerce is creating an environment in which
businesses can prosper and promote interest in local business possibilities.
Money, Planning, Inspiration, and Guidance, depends on the members working
vigorously on the committees of their choice. Careful study is made of the
community needs and an action plan is designed. The goal of the Action Plan is
to improve the economic welfare of the community. The Chamber works for
industrial and business development, which supports new residents with their
revenues for our community. It provides educational opportunities and assists
businesses with the latest marketing and promotional techniques.
Working of Chamber of Commerce:
The
Chamber works for the ever-increasing population, assuring additional customers
and income. It works toward the increasing development of highways,
recreational areas, new industries, and the expansion of existing industries;
all of which increase the demand for services. The Chamber provides an
expanding market for construction, real estate and insurance professionals by
promoting business, and attracting new industries and residents. Potential
customers are referred to members on a daily basis. The Chamber works
continuously for the growth of the city, business expansion and population
increase to insure the professional a prosperous place in which to make a
living.
Faisalabad Chamber of Commerce & Industry
FCCI
established in 1975 Working under Directorate General of Trade Organizations
(DGTO), formally DTO (Ministry of Commerce), FCCI is a corporate body
originally licensed by the Government of Pakistan under the trade organization
ordinance 1961 (Revised 2007). The Faisalabad Chamber of Commerce &
Industry (FCCI) is a corporate body licensed by the Government of Pakistan
under the trade organization ordinance 1961.
President of Faisalabad Chamber
of Commerce.
Now today the president of FCCI is Ch. Muhammad Nawaz and he
belonged from Faisalabad. In 2014-2015 Engr. Rizwan Ashraf was the president of FCCI.
Goals of Chamber of Commerce
·
To create and foster
cordial working relationship among businesses and between businesses and the
community at large.
·
To participate
actively and rather proactively in the development of public policy; as it
affects economic growth and development for the country.
·
To effectively
express the views of the business community at appropriate levels and forums of
the government particularly on matters of relevance to Faisalabad and this
area.
·
To promote
private enterprises, business excellence, and encourage individual as well as
collective achievements.
·
To provide the
resources deemed necessary to ensure proper levels of member’s services in
addition to strengthening the member’s involvement in the community through
this chamber.
·
To reinforce the
Organization through increasing its membership and resource base strategic
Plans.
·
The Strategic
Plan enshrines my commitment to provide an excellent standard of service and
programs designed to continuously meet the needs of our members.
4. Ministry of Commerce
The Ministry of Commerce is a Cabinet-level ministry of
Government of Pakistan concerned with the growth of national economic growth
and commerce development and promotion. It is governed by public appointed
Commerce minister, who is required to be the Member of Parliament of Pakistan.
It also consists of bureaucratic staff, and its current government appointed
Bureaucratic officer is Mr.
Munir Qureshi.
President of
Ministry of Commerce:
The President of Ministry of Commerce is Engr. Khurram Dastgir Khan. Khurram Dastgir Khan (12
August 1970), is a Pakistani politician, electrical engineer, economist,
conservative figure, and the incumbent Commerce minister of Pakistan, appointed
in the Ministry on 12 January 2014. He is also a highly controversial figure because
of an act of his father which occurred in 1964 in Gujranwala . However, Mr.
Dastgir remains an influential figure and has successfully defended his
constituency multiple times and has played a leading role in the induction of a
number of acts in Parliament.
Duties of Ministry of Commerce
Under the Rules of
Business 1973, Commerce Division is assigned the following Duties:
Ø Imports and exports
across custom frontiers
Ø Export promotion
Ø Commercial intelligence
and statistics
Ø Tariff policy and its implementation
Ø Anti-dumping duties,
countervailing duties and safeguard laws
Ø Inter-Provincial trade
Ø Domestic Commerce
Ø Organization and control
of Chambers and trade associations
Ø Law of Insurance and
regulation and control of Insurance companies
Ø Administrative Control
of Attached Departments/Organizations
Ø Selection of Trade
Officers for posting in Pakistan’s Missions abroad
Working of Ministry of Commerce
In order for the smooth
functioning, the Department is divided into eight divisions,
Ø Administrative and
General Division
Ø Finance Division
Ø Economic Division
Ø Trade Policy Division
Ø Foreign Trade Territorial
Division
Ø State Trading &
Infrastructure Division
Ø Supply Division
Ø Plantation Division
The various offices/ organizations under the administrative control of
the Department are:
Ø Three Attached Offices,
Ø Eleven Subordinate Offices,
Ø Ten Autonomous Bodies,
Ø Five Public Sector Undertakings,
Ø Advisory Bodies,
Ø Fourteen Export Promotion Councils and
Ø Other Organizations.
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5. International Commerce
The buying and selling of goods between sovereign
nations. International commerce allows countries to take advantage of
competitive advantages in certain areas, while diminishing disadvantages in
other areas. To help facilitate international buying and selling among
countries, a variety of national and local government agencies have been set
up, including the International Chamber
of Commerce (ICC).
International
Chamber of Commerce
The International
Chamber of Commerce (ICC) was founded in 1919 to
serve world business by promoting trade and investment, open markets for goods
and services, and the free flow of capital. The organization’s international
secretariat was established in Paris and the ICC’s International Court of
Arbitration was created in 1923.
The International
Chamber of Commerce promotes international trade and investment, and helps
business meet the challenges and opportunities of globalization. ICC has three
main activities – rule setting, arbitration and policy – and provides essential
services such as ICC Arbitration, training, commercial crime fighting and
customs facilitation.
6. Pakistan Imports and Exports items 2015:
Pakistan is a member of the WTO and has bilateral and
multilateral trade agreements with many nations and international
organizations. It is part of the South Asian Free Trade Area agreement and the
China – Pakistan Free Trade Agreement.
Major Exports:
Pakistan exports lots of different
items to a dozen of countries. Following is the list of exports items.
1.
Rice
2.
Cotton
3.
Household furnishings and furniture.
4.
Cotton cloths
5.
Fabrics and Carpets and Rugs
6.
Textile apparel and household furnishings
7.
Sport goods
8.
Camping apparel
9.
Footwear and gears
10. Toys
11. Bicycles
12. Fans
13. Cook
wares
14. House
and garden wares
15. Leather
bags
16. Chemical
17. Dates,
mangoes, oranges and vegetables
Major Imports:
1.
Vehicles
and spare parts.
2.
Edible
Oil.
3.
Plastic
material.
4.
Paper
Board
5.
Iron
ore and steel.
6.
Pharmaceutical
products.
7.
Electronic
equipment
8.
Machines,
engines, pumps
9.
Fertilizers:
10.
Manmade
staple fibers:
11.
Manmade
filaments:
12. Organic chemicals
7. Pak China Economic Corridor:
The
China–Pakistan Economic Corridor (CPEC) is an ongoing development megaproject
which aims to connect Gwadar Port in southwestern Pakistan to China’s
northwestern autonomous region of Xinjiang, via a network of highways, railways
and pipelines to transport oil and gas. The economic corridor is considered
central to China–Pakistan relations and will run about 3,000 km from Gwadar to
Kashgar. Overall construction costs are estimated at over $46 billion, with the
entire project expected to be completed in several years. The Corridor is an
extension of China’s proposed 21st century Silk Road initiative. According to a
First post report, "this is the biggest overseas investment by China announced
yet and the corridor is expected to be operational within three years and will
be a strategic game changer in the region, which would go a long way in making
Pakistan a richer and stronger entity than ever before."
History of Pak China Economic Corridor:
The
project was first proposed by Chinese Premier Li Keqiang and Nawaz Sharif on 22
May 2013 in Islamabad. The Pak-China Economic Corridor Secretariat was
inaugurated in Islamabad on 27 August 2013. In February 2014, Pakistani President Mamnoon
Hussain visited China to discuss the plans for an economic corridor in
Pakistan. Two months later, Pakistan Prime Minister Nawaz Sharif met with
Premier Li Kequiang in China to discuss further plans. The project took shape
during Sharif's tenure.
8. History of Frederick .W. Taylor:
Frederick
Winslow Taylor (March 20, 1856 – March 21, 1915) was an American mechanical
engineer who sought to improve industrial efficiency. He was one of the first
management consultants. Taylor was one of the intellectual leaders of the
Efficiency Movement and his ideas, broadly conceived, were highly influential
in the Progressive Era (1890s-1920s). Taylor summed up his efficiency
techniques in his 1911 book The Principles of Scientific Management. His
pioneering work in applying engineering principles to the work done on the
factory floor was instrumental in the creation and development of the branch of
engineering that is now known as industrial engineering. Taylor was also an
athlete who competed nationally in tennis and golf.
Work
of Frederick . W. Taylor:
Taylor
was a mechanical engineer who sought to improve industrial efficiency. Taylor
is regarded as the father of scientific management, and was one of the first
management consultants and director of a famous firm. In Peter Drucker's
description,
Frederick
W. Taylor was the first man in recorded history who deemed work deserving of
systematic observation and study. On Taylor's 'scientific management' rests,
above all, the tremendous surge of affluence in the last seventy-five years
which has lifted the working masses in the developed countries well above any
level recorded before, even for the well-to-do. Taylor, though the Isaac Newton
(or perhaps the Archimedes) of the science of work, laid only first
foundations, however. Not much has been added to them since – even though he
has been dead all of sixty years.
Taylor's
scientific management consisted of four principles:
Replace
rule-of-thumb work methods with methods based on a scientific study of the
tasks. Scientifically select, train, and develop each employee rather than
passively leaving them to train themselves. Provide "Detailed instruction
and supervision of each worker in the performance of that worker's discrete
task" (Montgomery 1997: 250).
Divide
work nearly equally between managers and workers, so that the managers apply
scientific management principles to planning the work and the workers actually
perform the tasks. Future US Supreme Court justice Louis Brandeis coined the
term scientific management in the course of his argument for the Eastern Rate
Case before the Interstate Commerce Commission in 1910. Brandeis argued that
railroads, when governed according to Taylor's principles, did not need to
raise rates to increase wages. Taylor used Brandeis's term in the title of his
monograph The Principles of Scientific Management, published in 1911. The
Eastern Rate Case propelled Taylor's ideas to the forefront of the management
agenda. Taylor wrote to Brandeis "I have rarely seen a new movement
started with such great momentum as you have given this one." Taylor's
approach is also often referred to as Taylor's Principles, or, frequently
disparagingly, as Taylorism.
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