Why do we Need to Know about Commerce Anyway?

Cartoon 1For over a decade, multiple public and private sector reports have consistently identified the need for Australia’s graduates to acquire commercial savvy and innovative thinking in order to compete in a global marketplace for ideas. This is particularly so in the innovative industries which are widely accepted as the key to increasing productivity across economies, both directly and indirectly. However, as the Australian Research Council (ARC) noted in 2000, “Participation is unlikely by simply demanding that financiers take more risks or academics get involved for the good of society. It is important that action is taken to ensure that participation is based on mutual self-interest.” (Australian Research Council, 2000, p. 33)

Fundamentally, there are four reasons for innovators and creators to build and maintain a basic understanding of commerce, all of which can be seen as being entirely self-interested: Continue reading