Emerging Modes of Business


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Emerging Modes of Business:

Emerging Modes of Business Class XI Business Studies

Need for Emerging modes of Business:

Need for Emerging modes of Business In order to meet ever growing competition, quality standards, lower prices, faster order processing and better customer care, there is a need for the business to take benefits of emerging technologies. The 3 strongest trends are: E-business Outsourcing Internationalization and Globalization


E-Business Electronic business refers to conducting business activities over internet or any other computer network. Many a times the terms e-business and e-commerce are used interchangeably. But in actual E-Business is a wider than E-Commerce.

Scope of E-Business:

Scope of E-Business The scope of e-business is very vast. It includes almost all type of business functions like activities related to production, finance, marketing, personnel etc.

Classification of E-business:

Classification of E-business B2B Commerce It includes transaction between business firms . B2C Commerce Transaction taking place between business and customers. It may include the following – Selling and Distribution Conducting surveys to determine customer’s preference After sale service Promotional activities Note: The volume of B2B transaction is much higher than the volume of B2C transactions .

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C2C Commerce It includes transaction between two or more customers. Customers are no longer totally reliant on corporations. They are conducting their own business transactions and internet allows them to globally search for potential buyers. Example – online auction and shopping websites. Intra-B Commerce It refers to interaction and dealings among various departments and persons within the firm. It includes the use of intranet and deal between various departments and persons within a firm. It has facilitated flexible manufacturing.

Intra-B Transactions may be conducted for the following:

Intra-B Transactions may be conducted for the following Inventory and cash management Reporting by employees to their seniors Human resource management Recruitment and selection Training, development and education

Benefits of E-Business:

Benefits of E-Business Ease of formation and lower investment requirements Convenience Speed Global reach Movement towards a paperless society

Limitations of E-Business :

Limitations of E-Business Low personal touch Incongruence between Order taking/giving and order fulfillment speed (delay in delivery) Need for technology Capability and Competence of Parties to e-business Increased risk due to Anonymity and Non-traceability of parties

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The risk relates to the following – Difficult to establish identity and location Loss of privacy Leakage of confidential information People Resistance Ethical Fallouts Finally it can be concluded that most of the limitations of e-business are in the process of being overcome. It has the potential to reshape the businesses, governance and the economies. Therefore we should familiarize ourselves with al the aspects of e-business. So, despite limitations, e-commerce is the way.

Online Transactions:

Online Transactions It refers to the transactions taking place between buyers and sellers through internet. From buyer point of view it include 3 stages- Pre purchase stage Purchase stage Delivery stage Except the third stage the two stages involve the flow of information.

Online shopping from the point of view of seller includes the following steps:

Online shopping from the point of view of seller includes the following steps Registration Placing the order Payment mechanism Payment can be done in any following ways Cash-on delivery Cheque Net-banking transfers Credit or Debit cards Digital cash

Risk in e-business :

Risk in e-business Transaction Risk There are three types of online transactions. They are- Default on Order taking or giving Default on Delivery Default on payment In order to prevent misuse of credit card details, sellers have started using encryption technology, such as Netscape’s Secure Sockets Layer (SSL)

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Buyer can also protect themselves by shopping from well-establishes shopping sites. Data storage and Transmission risks Virus Hacking Threat to Intellectual property and privacy risks.

Resources required for successful E-Business implementation:

Resources required for successful E-Business implementation Well design website Adequate Computer hardware Technically qualified manpower Effective Telecommunication facilities System of receiving payment

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