Emerging Modes of Business – CBSE Notes for Class 11 Business Studies
E-business : Scope, Benefits and Limitations, Online Transactions
-> E-business refers to “carrying on business activities through internet. Business activities comprise of Industries, Commerce arid Trade.
-> Scope Of E-Business
1. B2B Commerce (Business to Business Commerce)
2. B2C Commerce (Business to Customer Commerce)
3. Intra B Commerce (With in Business Commerce)
4. C2C commerce (Customer to Customer Commerce)
5. B2G Commerce (Business to Govt. Commerce)
-> Benefits Of E-Business
1. Convenience 2.Ease of formation and lower investment requirements
3. Speed 4.Global reach/access
5. Movement towards a paperless society
-> Applications Of E-Business
1. e-bidding/e-auction 2.e-trading
3. e-procurement 4.e-delivery
-> Limitations Of E-Business
1. Lack of personal touch 2 Increased risk due to anonymity and non-tracability of parties
3. Need for technology capability and competence of parties to e-business
4. Incongruence between order taking/giving and order fulfillment speed
5. People resistance
6. Ethical fallouts
-> Online Transactions
1. Surfing internet for relevant website
2. Searching for the desired product
4. Placing an order
5. Payment mechanism
6. Delivery of goods
-> Security And Safety Of E-Transactions /E-Business Risks
1. Transaction risks
2. Data storage and transmission risks
3. Risks of threat to intellectual property and privacy
4. Resources required for successful e-business implementation
Know the Terms—
-> Emerging modes: The new trends of doing business are known as emerging modes of business.
-> E-business: Conduct of industry, trade and commerce using computer network.
-> E-commerce: Means buying and selling the products and services over the internet.
-> B 2 B Commerce : The interaction between a business firm with other business firm through the network of computers.
-> B 2 C Commerce : It is a system where a business firm interacts with its customers using internet as a medium.
-> C 2 C ommerce: It refers to commerce which takes place between two or more customers through internet for the sale and purchase of good for which there is no established mechanism.
-> Intra B ommerce : It refers to the transaction which take place among different persons or departments within a firm through the network of computers.
-> On line transactions : It refer to the transaction taking place between buyers and sellers through internet.
-> Digital card: A form of electronic currency that exists only in cyber used for making payments
-> Hacking: Unauthorised entry into a website is termed as hacking.
-> Virieses : Means vital information under seige.
-> Encryption: Converting the message into a code that is understandable to sender and receiver only.
-> Browsing: Means retrieving information on the internet.
-> URL (Uniform Resource locator): Refer to a world wide web address that specifies a specific site, page, graphic or document on the internet.