What went wrong when the king rode under the arch?

It was too low and knocked off his crown

How does the chain of blame unfold in the poem?

Each accused person blames another, ending with the king's own changes

State any two differences between e-business and traditional business.

e-Business needs little physical presence and lower set-up cost, and operates round the clock with a flat, non-hierarchical structure, unlike traditional business.

What is the difference between e-business and e-commerce?

e-Commerce covers a firm's online interactions with customers and suppliers, while e-business is broader and also includes internal functions like production, finance and HRM done electronically.

What is B2B commerce?

B2B (business-to-business) commerce refers to electronic transactions in which both parties are business firms, such as suppliers and distributors.

What is intra-B commerce?

Intra-B commerce refers to electronic transactions among parties within a single firm, conducted through the intranet, enabling flexible manufacturing and coordination.

Name any three benefits of e-business.

Ease of formation and lower investment, convenience round the clock, and global reach (along with speed and a paperless society).

State two limitations of e-business.

Low personal touch and increased risk due to the anonymity and non-traceability of parties.

What are the steps in an online transaction?

Registration, placing an order, and using a payment mechanism such as cash-on-delivery, cards, net-banking or digital cash.

Name the three categories of e-business risk.

Transaction risks, data storage and transmission risks, and threats to intellectual property and privacy.

What is the role of the Information Technology Act 2000?

It paves the way for a paperless society by giving legal recognition to electronic records and digital signatures.

What resources are required for successful e-business?

Money, men, machines (hardware) and a website that serves as the firm's location on the World Wide Web.

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Chapter 5: Emerging Modes of Business — Class 11 Business Studies

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Chapter 5: Emerging Modes of Business

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e-Business refers to:

Summary

Three of the strongest trends shaping modern business are digitisation, outsourcing and internationalisation, of which this chapter focuses on e-business and business process outsourcing. e-Business is the conduct of industry, trade and commerce using computer networks; it is broader than e-commerce because, besides buying and selling, it includes electronically conducted functions such as production, inventory management, product development, finance and human resource management. Its scope covers B2B commerce (between business firms, historically through EDI), B2C commerce (between firm and customers), intra-B commerce (within a firm using the intranet) and C2C commerce (between consumers). The benefits of e-business include ease of formation and lower investment, convenience round the clock, speed, global reach and movement towards a paperless society aided by the Information Technology Act 2000. Its limitations include low personal touch, mismatch between order taking and order fulfilment, need for technological competence, increased risk due to the anonymity of parties, people resistance and ethical issues. Online transactions involve registration, placing an order and a payment mechanism such as cash-on-delivery, cheque, net-banking, credit or debit cards, and digital cash. The security and safety of e-transactions face transaction risks, data storage and transmission risks (viruses, addressed by cryptography) and threats to intellectual property and privacy. Successful e-business needs money, men, machines and a website. Business process outsourcing contracts out non-core processes, including knowledge process outsourcing, to specialised providers to gain cost and quality advantages.

Trends shaping business — digitisation and outsourcingConcept and scope of e-businessB2B, B2C, intra-B and C2C commerceBenefits and limitations of e-businessOnline transactions and payment mechanismsSecurity and safety of e-transactionsResources for e-business implementationBusiness process outsourcing (BPO)

Key terms

e-Business

The conduct of industry, trade and commerce using computer networks, broader than e-commerce as it includes electronically performed internal functions.

B2B commerce

Electronic transactions where both parties are business firms, such as suppliers and vendors, historically conducted through EDI.

B2C commerce

Electronic transactions between a business firm and its customers, including online shopping and marketing.

Outsourcing

Contracting out of non-core, repetitive business processes to external specialised agencies to reduce cost and improve quality.

Digital cash

A form of electronic currency that exists only in cyberspace and has no real physical properties.

Cryptography

The protection of information by encrypting it into unreadable cyphertext that can be decrypted to plaintext only with a secret key.

Important questions

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e-Business

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The conduct of industry, trade and commerce using computer networks, broader than e-commerce as it includes electronically performed internal functions.

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Practice quiz · Emerging Modes of Business

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Emerging Modes of Business

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