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This is possible only when you have the bestCBSE Class 11 Business Studies study materialand asmart preparation plan. E-business : Scope, Benefits and Limitations, Online Transactions Quick Review-> E-business refers to "carrying on business activities through internet. Mention two types of e-business risks. At times, e-commerce can feel impersonal. 2.11 Impacts of E-Markets on Business. By now, you might have formed the opinion that B2C is a one-way traffic, i.e., from business-to-customers. One of the benefits of e-commerce stores is that it is not bound by geographical boundaries. Companies can conduct online surveys to ascertain as to who is buying what and what the customer satisfaction level is. (i) B2B Commerce. Simply speaking, a website is a firms location on the World Wide Web. E-business is one of the biggest examples of how the business world has evolved in modern times. Your contact details will not be published. In class 12 CBSE Board, However we will examine only the direct effects of increase in GDP on economic welfare. Sanitation and housekeeping functions are non-core for most organizations. Required fields are marked *. Students are supposed to prepare themselves thoroughly from the NCERT textbook. Such flexibility is available even to the organizational personnel whereby they can do work from wherever they are, and whenever they may want to do it. Below we provided the Notes of Class 11 Business Studies for topic Emerging Modes of Business. As the organizations venture to experiment with outsourcing, they may initially outsource only the non core activities. 1. Additionally, e-commerce technology provides market system security to such transactions which otherwise would have been missing ifthe buyers and sellers were tointeract in anonymity of one-to-one transactions? Question: Explain the advantages and disadvantages of E-Advertising. Students are advised to check with the suggested tips which will help them in securing good marks in their business studies CBSE Class 11 exam. A-258, Bhishma Pitamah Marg, Resources Required for Successful e-Business Implementation, Outsourcing or Business Process Outsourcing (BPO). Also, the human touch is missing as well. Certain websites do not have capabilities to conduct authentic transactions. The following are the disadvantages of E-Commerce for a consumer. For e-business, you require additional resources for developing, operating, maintaining and enhancing a website where site means location and web means World Wide Web (www). The internet is available at all times. Moreover, one does not know even the location from where the parties may be operating. (Business Studies grade 11), Case study question examples in Business Studies, Advantages of case study questions in Business Studies, Class 10 Social Science Case Study Questions, Class 11 Political Science Case Study Questions, Class 12 Accountancy Case Study Questions, Class 11 Business Studies Case Study Questions, Class 12 Political Science Case Study Questions. Hence, as per the 5th chapter of business studies, the emerging modes of business are e-business, e-commerce, and outsourcing. For example work is accomplished by doing child labour. Nature Of Contact With The Suppliers And The Customers. People can easily access their bank accounts anytime just sitting at their homes without visiting their bank. Ans. More and more people purchase items over the internet and have them delivered directly to our doorsteps. The consumer is unable to touch and feel the product in real-time. (i) Easy to form and lower investment is required(ii) Convenience(iii) Speed(iv) Global reach(v) Cost saving(vi) Movement towards a paperless society, (1) Low personal touch(ii) Delay in delivery(iii) Requirement of hardware(iv) Risk(v) Low ethics, Most of the limitations discussed can be over come with due care and diligence. This can put you in trouble. The consumer is the source of the business, and consumers are the ultimate destination. There are three phases of doing business in e-business or online. Another limitation with E-commerce is that you are not able to touch and check the quality of a product before buying it. The chapter of class 11 on Emerging Modes of Business is incomplete without mentioning the differences between the two forms of business. One, due to their narrow focus, individuals excel in the activities that they can do best. However, for digital products such an opportunity is tremendous. Internet transactions occur between cyber personalities. Disclaimer | E-commerce signifies the utilization of electronic means and technologies to handle commerce-related activities like transfer or exchange of goods, sales, purchase, information, and services while . 2.10 Competition in the Digital Economy 0. Disadvantages: E-Commerce is often used to buy goods that are not available locally but from businesses all over the world. Requiring Explicit Knowledge which is Formal and Codifiable: Although an IT programmer's job can be outsourced to a third party, a CEO's position requires management, technical, and human relations skills. Technical Limitations 10. Many people are capable of conducting online business. High start up cost: The various components of cost involved with ecommerce are:- connection:- connection cost to the internet. The subject cannot be ignored as it is the foundation of many concepts and theories which are studied at an advanced level in class 12. So it is difficult for the consumers to check the quality of a product. Here we are referring you some other blogs to read: Nature And Purpose of Business Class 11 Notes Save my name, email, and website in this browser for the next time I comment. It offers an alternative career path for the educated. Once you've decided what you want to buy, you may 'checkout.'. re some given case study questions for CBSE class 11 Business Studies. What is E-commerce? Measurable Activity: You can't outsource something you can't quantify. The amount owed by the cardholder to the online seller is assumed by the card issuing bank, which then transfers the transaction's amount to the seller's credit. Next, is the step of placing an order where the consumer would need to pick and drop the items in the shopping cart, and then the consumer can check out if they are sure of what they want to buy. Exchange of cash, assets, and information are likewise considered E-commerce. For more information, students can download the CBSE Class 11 Business Studies revision notes free of cost from the Vedantu website (vedantu.com). CBSE CBSE (Arts) Class 11. Payment for purchases made through online shopping may be made in the following ways: Another important topic in class 11 emerging modes of business is e-commerce or electronic commerce that refers to the process of trading over the internet and encompasses diverse concepts like online shopping, digital banking, online ticket booking, social networking, etc. Security 2. questions. They are short of funds so they are trying to find means to arrange funds. Much as IT sector is among the topmost priorities of the government. If the outsourcing partner does not preserve the confidentiality, and, say, for example, passes it on to competitors, it can harm the interest of the party that outsources its processes. The students need not invest money in getting the notes as they are available for free download. He actually meant that they can put their warehouse on fire and claim from insurance companies against stock insured. Credit or Debit Cards: The holders of credit cards can enjoy making purchases on credit. Thus, it is expected from the students to thoroughly revise and memorize the key business fundamentals. Running a cafeteria/canteen or a book store is non-core activity for a school. In this respect, the provisions of Information Technology Act 2000 are quite noteworthy. The best part of having these questions is that the asked question itself projects a hint of its answer. United Kingdom, EC1M 7AD, Leverage Edu Seller denies that the customer ever placed the order or the customer denies that he ever placed the order. Also, the scope of E-business is said to be wider and broader than that of e-commerce. Further, B2C variant of e-commerce enables a business to be in touch with its customers on round-the-clock basis. Examples of E-commerce and E-business are Amazon, Flipkart, eBay. Huge Technological Cost 11. Other disadvantages of e-business are as follows: No Personal Touch - The immediacy of online communication has a huge drawback for the small business owner. It is majorly a report of an organizations implementation of anything, such as a practice,a product, a system, or a service. This means that even if you do not have much of the investment (net worth) but have contacts (network), you can do fabulous business. They used to meet and discuss their ideas. You must have heard of virus and hacking. Try to comprehend the situation and focus on the question asked, Analyze and carefully answer the question asked, In general, the passage given would be lengthy in Business Studies case-based questions but their solutions are comparatively short and simple. Limitations of Statistics: 1. They also succeed by increasing their capabilities by outsourcing out the remaining tasks to people who excel at them. Class 11 Computerised Accounting System In India in the IT sector alone, for example, there has been such a tremendous growth of entrepreneurship, employment and exports that today we are the undisputed leaders as far as global outsourcing in software development and IT-enabled services are concerned. During the policy, a fire takes place in his godown and he does not take any preventive steps like throwing water and calling the employees from the fire fighting department to control the fire. As people become more used to interacting electronically there could be erosion (divide) of personal and social skills which might eventually be detrimental to the world we live in where people are more comfortable interacting with a screen than face to face. This may be referred to as . Intra-B, which refers to a company's internal operations. In the Business Studies class 11 chapter, students also have to learn the limitations of the outsourcing model: As a company grows, the complexities and scope of its business also increase. Almost all types of business functions such as production finance, marketing and personnel administration as well as managerial activities like planning, organizing and controlling can be carried out over computer networks. It may be pointed out that most of the limitations of e-business discussed above are in the process of being overcome. Why is e-banking referred to as the emerging mode of business? You may then use the digital funds to make purchases over the web. Lower Cost: With the advancement of the eCommerce platforms, it has become very affordable and easy to set up and run an eCommerce business with a lower overhead. Australia, Leverage Edu Tower, The pre-purchase or sale stage- This stage includes advertising and information seeking that are relevant to the transaction. After being sure of what you want to buy, you can checkout and choose your payment options. These can be solved by the application of the theory or principle that is highlighted in the provided text. The different types of services that can be outsourced are as follows: Financial Services: Large corporations frequently require the services of financial professionals to manage their finances, such as predicting the amount of money needed, determining when and how to issue shares and debentures, and so on. This is particularly true in the realm of the economy. Here are some tips which will help the student to solve the case-based questions at ease: In order to excel in the Business Studies class 11 exam, one needs to ignore the shortcut techniques and get to read the NCERT textbook rigorously. After five days the buyer found the real state of the sofa set and called Tarasha but she did not answer any of the calls. In view of the above discussion, it is clear that e-business is here to stay and is poised to reshape the businesses, governance and the economies. E-business encompasses not just e-commerce, but also production, inventory management, product creation, accounting and finance, and human resource management. Think of a large multinational corporation that deals in diverse products and markets them to a large number of countries. The limitations are as follows 1. Before the CBSE Class 11 Business Studies examination, when preparation time is limited, one can use these revision notes to revise in a short span of time. It is largely due to use of intra-B commerce that today it has become possible forthe firms to go in for flexible manufacturing. Cultural Obstacles 7. More Opportunities For "Selling.": Class 11 Chapter-wise, detailed solutions to the questions of theNCERT textbooksare provided with the objective of helping students compare their answers with the sample answers. As such, it becomes difficult to establish the identity of the parties. They used to meet and discuss their ideas. With the onset of e-commerce, all this has become a reality. Delhi 110024, A-68, Sector 64, Noida, Semi-skilled and even semi skilled manpower needed. Both online and in-person business models come with their own challenges, but with the right information, and a developed action plan, a successful e-commerce operation is in your future. Customer Support Services:All durable items need an after-sales or customer support service to register and respond to consumer concerns. 5/6 . For more information, students can download the CBSE. Important data may be stolen or altered for nefarious purposes or merely for fun/adventure. The next one is a technological limitation that the cost involved with . For instance, it could be through net banking, credit or debit cards, digital cash, cash on delivery or it could be through the method of writing a cheque. It has various benefits and limitations. 1- Business to Business (B2B) Here, both the parties involved in e-commerce transactions are business firms. On-line opens up the whole world as one shop. Payment for the purchases through online shopping may be done in a number of ways: Credit card allows its holder to make purchase on credit. So it is difficult for the consumers to check the quality of the product, until the order has been delivered. They will use the claim money to pay the loan. Freshwater, Sydney, NSW 2096, Electronic business includes planning, organising, marketing, and production functions. As such, it becomes cumbersome and costly to manage diverse functions and operations efficiently. 1. Cheque: The online merchant may arrange for the customer's cheque to be picked up. Cash-on-Delivery: Payment for things ordered online can be made in cash when the goods are delivered physically. Class 11 Private, Public and Global Enterprises e.g., estimating the finance required, how and when to issue shares, debentures. Even the government departments and regulatory authorities are increasingly moving in this direction whereby they allow electronic filing of returns and reports. For example Amazon now guarantees delivery within one day. We are glad you liked our blog. Only those who possess a secret key can decipher (or decrypt) the message into plaintext. This MERICS Primer takes a closer look into the longer-term policy goals set by the Chinese Communist Party (CCP) and the efforts to realize them. (c) Courier Services Courier services refers to postal services provided by the private firms for carrying mails, parcels etc. It also fosters customer confidence. So, what the firm that goes in for outsourcing look for is the doing skills rather than development of the thinking skills. E-Commerce business owners can choose to scale up or down their operation quickly by taking advantage of the non-ending "shelf space," as a response to the market trends and demands of consumers. Limitations of E-commerce to Society Breakdown in human interaction. Use of the internet has considerably reduced dependence on paperwork. house or work area. Then the bank dealing in e-cash will send you special software that will allow you to draw digital cash from your account with the bank. All rights reserved. There are three phases of doing business in e-business or on-line. Are you feeling skeptical about choosing the right career field? The mobile wallet system for merchant accounts drive up sales and increase revenue generation. But there are many reasons it is not an adequate measure of it. As the prices turn southwards due to competitive pressures, the only way to survival and profitability is cost reduction. identify the type of business highlighted in the above case. A Complete Guide to Business Studies Class 11 Chapter 5 Notes, Highlights of Business Studies Class 11 Chapter 5 Notes, Benefits of Revision Notes for CBSE Class 11 Business Studies Chapter 5, CBSE Class 11 Business Studies Chapter 5 Emerging Modes of Business - Topics Covered, Emerging Modes of Business Class 11 Notes CBSE Business Studies Chapter 5 - Features of the Notes, Revision Notes for CBSE Class 11 Business Studies Chapter 5 - Highlights of Business Studies Class 11 Chapter 5 Notes, Class 11 Business Studies Chapter 5 Notes: The Benefits of E-Business, Emerging Modes of Business Class 11 Notes CBSE Business Studies Chapter 5 - Extra Questions (Solved) for Practice. There are many reasons to support this argument. The use of computer networks allows the marketing department to communicate with the production department on a continuous basis, allowing for the creation of personalised products according to the needs of each unique customer. Computer literacy: A basic technical knowledge is required of both computing equipment and navigation of the Internet and the World Wide Web. Limitations of e-commerce in Indian Viewpoint. Case study questions could be based on any chapter or concept present in the NCERT textbook. Less, because a lot of legal formalities have to be done. As a result, order taking/giving in e-business may pose a danger to the vendor or the client. Reach out to our Leverage Edu career experts and they will assist you with the best knowledge. Among all the other core subjects of the Commerce stream i.e accountancy, economics and business studies, Business Studies is the one that is purely theoretical. Among various details that need to be filled in is a password as the sections relating to your account, and shopping cart are password protected. Now we will discuss some suggested tips which might improve your score in business studies Class 11: Business Studies is a theoretical subject so focus on the theory portion majorly. Ability to sell different products: The flexibility of conducting business over the internet makes it possible for entrepreneurs to display and sell several products and also cater to a wider demographic. 3/4 MARKS QUESTIONS : State any three difference between e-business and traditional business. Because of the directness of the order and communication, it is horizontal/flat. Customers can do their research in a matter of seconds, but face-to-face communication is very difficult to replicate online. Global competitiveness necessitates not only global quality, but also global competitive pricing. This may also explain the reasons why the firms today are outsourcing not only their routine, non-core processes, but also seeking to benefit from outsourcing such strategic and core processes as Research and Development. Exemplar Questions Class 11is a very important resource for students preparing for the Examination. Limitations of e - commerce :-. Despite being one of the fastest emerging modes of business, e-business has some drawbacks as well. The transaction taking place between business units and customers are known as B2C transaction. Housekeeping is a core activity for a hotel. As noted earlier too, one critical difference between e-commerce and e-business is that, e-commerce comprises a business firms interaction with its suppliers, and distributors/other business firms (hence, the name B2B) and customers (B2C) over the internet. After all, every game has a winner and a loser. E-commerce Does Not Allow You to Experience the Product Before Purchase You cannot touch the fabric of the garment you want to buy. We shall discuss this aspect later in the section devoted to Business Process Outsourcing (BPO). Physical goods need to be transported, which takes time and costs money. As India emerges as a global outsourcing hub, the industry is forecast to explode at exponential rates from 23,000 people and $ 10 million per annum in 1998 to over a million people and revenues in excess of $ 20 billion by 2008. The term "digital divide" refers to the separation of society based on one's familiarity or lack thereof with digital technologies. Check out the following pointers which help the students to understand the advantages of revision notes for the CBSE Class 11 students: Revision is a key ingredient to include in your daily study. It is a general fear among the clients/customers to provide personal and financial information, even though several improvements and steps are taken up for its security. 2.9 Economics of E-Marketplaces 0. . Digital Cash: This type of currency has no physical qualities, but it allows you to utilise real money in an electronic format, such as through e-wallets or PayTm. Candidates can click on the subject wise link to get the same. In the quest for excellence, it is necessary not only to know what you would like to focus on, but also what you would like others to do for you. Here are a few reasons why you should choose Vedantu. Words: 4618 - Pages: 19 . The Living World Class 11 Notes We have mentioned above that the scope of e-business is quite vast. To understand better the concept of outsourcing, you must study in-depth the advantages of outsourcing as mentioned in the chapter. Customers these days are becoming very choosy and desire individual attention to be given to them. Class 11 Oscillations Notes E-banking, also known as electronic banking or online banking has become a widespread method of transaction across the world. Uttar Pradesh 201301, Devonshire House, 60 Goswell Road, According to this chapter, mentioned below are the types of e-commerce businesses that students will learn. More, because of higher personal contact. CBSE Class 11 Business Studies Notes Maths Notes Accountancy Notes Sociology Notes. Outsourcing, more so offshore out-sourcing, stimulates entrepreneurship, employment and exports in the host countries (i.e., the countries from where outsourcing is done). Scope of Business on the Basis of Parties : B2B, which is an abbreviation for business-to-business refers to a company's interactions with other companies. Sourcing of supplies of materials and components in a paper less fashion. Shopping cart is an online record of what you have picked up while browsing the online store. Security The biggest drawback of e-commerce is the issue of security. Security and Safety of e-Transactions:e-Business Risks. Online shopping is the future of the retail market. Limitations of e-Commerce By Dinesh Thakur Limitations of ecommerce: 1. E-commerce refers to a company's online interactions with its customers and suppliers. Scope of e-business. Contact Us | An OTP has been sent to your registered mobile no. A business must engage with a number of other businesses in order to create utility or deliver value. So, the firms that go in for outsourcing look for the 'doing' skills rather than development of the 'thinking' skills. It is riskier, therefore, transacting through internet. All the modes have their own features and advantages, let us study them in detail. Approximately 30% of the question paper will comprise case study questions that demand high-order thinking and reasoning skills from the students. (I)ease of formation and lower investment requirements: (ii)Incongruence between order taking/giving and order fulfillment speed: (iii) Need for technology capability and competence of parties toe-business: (iv) Increased risk due to anonymity and non-traceability of parties: Despite limitations, e-commerce is the way. Such situations can be averted by providing for identity and location/address verification at the time of registration, and obtaining authorization as to the order confirmation and payment realization. Class 11 Private, Public and Global Enterprises One may broadly discuss these issues under three headings: transaction risks, data storage and transmission risks, andthreat to intellectual property andprivacy risks. Around 80% of e- commerce transactions are of this type. Though, many a times, the termse-business and e-commerce are used interchangeably, yet more precise definitions would distinguish between the two. In this mode of banking, the transaction is done through online platforms. Non-Monetary . Following are some common limitations of e- business :-1) Low personal touch:- However its quite smart mode of business. Let us have a look at them-. Business Studies is an essential component of the class 11 commerce stream curriculum. One, they excel themselves in the activities that they can do the best by virtue of limited focus. It meansVitalInformationunderSiege. In order to reduce the annual premium, he did not disclose that highly explosive chemicals are being manufactured in his factory. In order to ace the subject the student needs to have conceptual clarity. Advertising Services: For a long time, businesses have relied on outsourcing services. Data in the systems and on the way is vulnerable to a variety of threats. Internet offers the convenience of 24 hours7 days a week365 days a year business. Likewise, business firms are realizing the usefulness of focusing on just a few areas where they have distinct capability or core competence, and contracting out the rest of the activities to their outsourcing partners. (d) Customer Support Services All durable goods require after sale or customer support service to register and attend the complaints of the customers.

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