Commerce Exam > Commerce Notes > Business Studies (BST) Class 11 > Cheat Sheet: Emerging Modes of Business
Cheat Sheet: Emerging Modes of Business | Business Studies (BST) Class 11 - Commerce PDF Download
E-business has transformed how business is conducted in the digital age, leveraging electronic funds transfer and internet technologies to enable global transactions. It reduces reliance on paperwork, speeds up globalisation, and allows businesses and consumers to access worldwide markets.
E-Business vs. Traditional Business
E-Business vs. E-Commerce
E-Commerce: Focuses on online buying/selling with customers and suppliers.
E-Business: Broader, includes e-commerce plus internal functions like production, inventory, product development, accounting, finance, and HR, managed via computer networks (e.g., internet, intranets).
Scope of E-Business
Covers all business functions (production, marketing, finance, HR) and managerial tasks (planning, organizing, controlling) conducted online. Categorised by transaction parties:
Benefits of E-Business
Limitations of E-Business
Online Transactions
Stages
- Pre-Purchase/Sale: Advertising, seeking information.
- Purchase/Sale: Price negotiation, finalising deal, payment.
- Delivery: Physical delivery of goods.
Steps in Online Purchase
Note: ~95% of online transactions use credit cards, requiring secure data collection.
Security and Safety of E-Transactions
Risks
Resources Needed for E-Business
- Capital: Funding for setup and operations.
- Human Resources: Skilled staff for technical and business roles.
- Hardware: Computers, servers, networking equipment.
- Website: Online platform for products/services, requiring development and maintenance.
- Technical Support: For website management and updates.
- Security Tools: To ensure safe transactions (e.g., SSL, anti-virus).
Key Terms
The document Cheat Sheet: Emerging Modes of Business | Business Studies (BST) Class 11 - Commerce is a part of the Commerce Course Business Studies (BST) Class 11.
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FAQs on Cheat Sheet: Emerging Modes of Business - Business Studies (BST) Class 11 - Commerce
| 1. What is the difference between e-business and traditional business? |  |
Ans.E-business refers to conducting business processes over the internet, which includes a wide range of activities such as online marketing, electronic transactions, and customer service. Traditional business, on the other hand, typically involves face-to-face interactions and physical storefronts. The primary difference lies in the method of operation and customer engagement; e-business utilizes digital platforms for transactions while traditional business relies on in-person exchanges.
| 2. How does e-business differ from e-commerce? | |
Ans.E-business encompasses all aspects of running a business online, including e-commerce, which is specifically focused on the buying and selling of goods and services over the internet. E-business includes processes like supply chain management, customer relationship management, and online marketing, while e-commerce is limited to transactions. In essence, e-commerce is a subset of e-business.
| 3. What are the key benefits of e-business? | |
Ans.The key benefits of e-business include increased reach and accessibility, cost efficiency, improved customer service, and the ability to analyze data for better decision-making. By operating online, businesses can reach a global audience, reduce operational costs associated with physical locations, offer faster service, and utilize analytics to enhance their strategies and offerings.
| 4. What are some limitations of e-business? | |
Ans.Some limitations of e-business include security concerns, the need for technological infrastructure, potential for decreased personal interaction, and challenges with digital marketing. Security risks such as data breaches can pose significant threats, while businesses must invest in technology and training. Additionally, the lack of face-to-face interaction may affect customer relationships, and navigating the digital marketing landscape can be complex.
| 5. What resources are needed to start an e-business? | |
Ans.Starting an e-business requires several resources, including a reliable internet connection, a user-friendly website or online platform, inventory management systems, payment processing solutions, and digital marketing tools. Additionally, businesses may need to invest in cybersecurity measures and training for staff to ensure smooth operations and secure transactions.
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Document Description: Cheat Sheet: Emerging Modes of Business for Commerce 2025 is part of Business Studies (BST) Class 11 preparation.
The notes and questions for Cheat Sheet: Emerging Modes of Business have been prepared according to the Commerce exam syllabus. Information about Cheat Sheet: Emerging Modes of Business covers topics
like E-Business vs. Traditional Business, E-Business vs. E-Commerce, Scope of E-Business, Benefits of E-Business, Limitations of E-Business, Online Transactions, Security and Safety of E-Transactions, Resources Needed for E-Business, Key Terms and Cheat Sheet: Emerging Modes of Business Example, for Commerce 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Cheat Sheet: Emerging Modes of Business.
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