Study MaterialsCBSE NotesEmerging Modes of Business – CBSE Notes for Class 11 Business Studies

Emerging Modes of Business – CBSE Notes for Class 11 Business Studies

Emerging Modes of Business – CBSE Notes for Class 11 Business Studies

 

E-business : Scope, Benefits and Limitations, Online Transactions

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    Quick Review—
    -> 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)
    emerging-modes-business-cbse-notes-class-11-business-studies-1
    -> 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
    5. e-communication/e-promotion
    -> 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
    3. Registration
    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.

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