CBSE Class 11 Business Studies Emerging Modes Of Business Notes Set B

Download CBSE Class 11 Business Studies Emerging Modes Of Business Notes Set B in PDF format. All Revision notes for Class 11 Business Studies have been designed as per the latest syllabus and updated chapters given in your textbook for Business Studies in Standard 11. Our teachers have designed these concept notes for the benefit of Grade 11 students. You should use these chapter wise notes for revision on daily basis. These study notes can also be used for learning each chapter and its important and difficult topics or revision just before your exams to help you get better scores in upcoming examinations, You can also use Printable notes for Class 11 Business Studies for faster revision of difficult topics and get higher rank. After reading these notes also refer to MCQ questions for Class 11 Business Studies given our website

Emerging Modes Of Business Class 11 Business Studies Revision Notes

Class 11 Business Studies students should refer to the following concepts and notes for Emerging Modes Of Business in standard 11. These exam notes for Grade 11 Business Studies will be very useful for upcoming class tests and examinations and help you to score good marks

Emerging Modes Of Business Notes Class 11 Business Studies

CHAPTER - 5

 EMERGING MODES OF BUSINESS

class_11_business%20_studies_concept_9

Yes we are discussing about online booking. …. Now let us think of…..how it will be…..if we are able to get our needs delivered at our doorstep.

· Concept Mapping

- e – Business

- e – Business vs. e – Commerce

- Scope of e – Business

- Online Transactions

- e – Business Risks

- Resources required for successful e – Business implementation

- Outsourcing – Meaning

- Features of Outsourcing

- Scope of Outsourcing

- Need for Outsourcing

- Concerns over Outsourcing

· Basic & Key Concepts Explanation Key Terms

e – Business

e – Business refers to the process of performing Business activities electronically through the means of internet.

Virus

Virus stands for Vital Information & Resources Under Siege

e – Trading

e – Trading involves securities trading, i.e. online buying & selling of shares and other financial instruments.

Digital Cash

Digital Cash refers to electronic cash instead of actual money which exists only in cyberspace (also known as cyber currency)

Sweat Shopping 

Firms that outsource seek to reduce their costs and get maximum benefit from the low –cost manpower. This is known as “Sweat Shopping”.

e – Commerce

e – Commerce refers to a firm’s interactions with its customers and suppliers over internet.

Secure Sockets Layer (SSL)

It is the technology used in encrypting and securing vital user information such as Credit/Debit card details etc. hich are used in online transactions.

e – Procurement

It involves internet based – sales between business firms forming digital marketplaces facilitating online trading between multiple buyers and sellers.

Business Process Outsourcing (BPO)

The process of contracting out non-core business activities to 3rd parties in order to reduce costs and time involved.

Online Trading The act of selling and buying anything online.

CBSE Class 11 Business Studies - Emerging Modes Of Business Part B

Horizontals
The 3rd parties which undertake outsourcing contracts from many firms and doing a wide variety of jobs and processes are known as “Horizontals”.

Verticals
The 3rd parties which undertake outsourcing contracts from other firms but are specialized to do only certain specific non-core to core activities.

B2B Commerce
Refers to electronically conducted business transactions between business to business.

B2C Commerce
Refers to electronically conducted Business transactions to Customers.

Intra-B Commerce
Refers to electronically conducted business transactions within a given business firm.

C2C Commerce
Refers to electronically conducted Business transactions between Consumer to Consumer.

• e – Business vs. Traditional Business

 CBSE Class 11 Business Studies - Emerging Modes Of Business Part B

CBSE Class 11 Business Studies - Emerging Modes Of Business Part B

• e – Business
  e – Business refers to all business transactions and functions conducted electronically.

• e – Business vs. e – Commerce
e – Business is more inclusive term than e – Commerce while e – Commerce refers to a firm’s interactions with its customers and its supplier over the internet. e – Business, apart from e – Commerce includes all other electronically conducted business activities such as inventory management, production, product development, accounting, finance, etc.,

• Scope of e – Business

The scope of e – Business is quite vast, it includes the following :-

1. B2B Commerce :- Refers to electronically conducted business transactions between business to business.

2. B2C Commerce :- Refers to electronically conducted Business transactions to Customers.

3. Intra-B Commerce:- Refers to electronically conducted business transactions within a given business firm.

4. C2C Commerce :- Refers to electronically conducted Business transactions between Consumer to Consumer.

• Benefits of e – Business

 CBSE Class 11 Business Studies - Emerging Modes Of Business Part B

1. Easy to form
Very easy to start e – business because host of procedures required for traditional business are not required for e – Business

2. Requires Less Investment
Both big and small business gets the benefits of internet equally. Thus even one start of small business with less investment can derive the benefit of e – Business.

3. Convenience
Internet offers the convenience of 24 hours X 7 days a week with a less investment – i.e. one can access anything, anywhere, any time.

4. Speed
Any business transaction can be made simply at the click of the mouse button, for e.g. Electronic Funds Transfer takes place at the speed of light

5. Global reach/access
In e – Business both businessmen and consumers have no national boundaries because internet is without such boundaries. In absence of such internet, globalization may be restricted in scope and speed.

6. Movement towards paperless society
Cutting thousands and thousands of trees to make paper adversely affects the environment but internet has considerably reduced the dependence on paper.

 CBSE Class 11 Business Studies - Emerging Modes Of Business Part B

1. Low Personal Touch
Interpersonal touch between businessmen and the consumer is very important. e
– Business may be high tech but the lacking interpersonal interaction is truly one of its shortcomings.

2. Delayed Delivery
Sometimes order may be placed at once through internet but delivery may be delayed, which may disturb the customers.

3. Need for technological capability and competence of parties
If any one party – either buyer or seller is not familiar with digital technology, e – Business becomes difficult.

4. Risk of Non-Traceability of parties
Cyber personalities participate in e – Business, when any one is in remote area – Traceability may be one the biggest problem.

5. People’s Resistance
In general, people resist changes and halt will be more if any organization prefers to go fully online.

6. Ethical Fallout
In e – Business, unless until you have high degree of protection, any one can keep an electronic eye on your transaction, even intrude into your privacy – which is ethically incorrect.

 

• Despite limitations, e – Commerce is the way
Yes, it is absolutely true, because when you wish to buy something especially from other countries or from distant seller, problems faced by you in traditional business is more than e – Commerce – thinking in terms of travelling – carrying money – time required – speed involved – mode of payment etc. 
Therefore, despite limitations e – Commerce is the way.

• Online Transactions
Involves three stages:-

1. Pre-Purchase/ Sale Stage – Including advertising and information seeking.

2. Purchase / Sale Stage – Comprising of price negotiation, closing deal & payment.

3. Delivery Stage – Involves physical delivery of goods.

The first two steps – involves only interaction and thus can be effectively done online.

• Steps involved in online purchase

1. Registration
Register yourself with online vendor by filling up registration form – i.e. now you have an account with the online vendor and you receive your account’s password and an online shopping cart.

2. Placing an Order
You can pick and drop the items of your choice in the online ‘shopping cart’ (Just an online record) – choose check out and payment option.

3. Payment Options

a. Cash on Delivery(COD)
Pay cash at the time of physical delivery of goods

b. Cheque
Vendor arranges the pick up of the buyer’s cheque(s) – Upon realization the delivery is made
c. Net-Banking Transfer 
Electronic transfer of funds from the buyer to the seller, after which the eller makes the delivery

d. Credit/Debit Cards
These are also called ‘Plastic Money’, the buyer enters the respective card’s details and the transaction is made. Credit cards allow the buyer to make purchases on credit, whereas Debit cards make use of the buyer’s existing money.

e. Digital Cash

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Chapter 1 Business Trade and Commerce
CBSE Class 11 Business Studies Nature And Purpose Of Business Notes Set A
CBSE Class 11 Business Studies Nature And Purpose Of Business Notes Set B
Chapter 2 Forms of Business Organisation
CBSE Class 11 Business Studies Forms Of Business Organisation Notes Set A
CBSE Class 11 Business Studies Forms Of Business Organisation Notes Set B
Chapter 3 Private Public and Global Enterprises
CBSE Class 11 Business Studies Public Private And Global Enterprises Notes Set A
CBSE Class 11 Business Studies Public Private And Global Enterprises Notes Set B
Chapter 4 Business Services
CBSE Class 11 Business Studies Business Services Notes Set A
CBSE Class 11 Business Studies Business Services Notes Set B
Chapter 5 Emerging Modes of Business
CBSE Class 11 Business Studies Emerging Modes Of Business Notes Set A
CBSE Class 11 Business Studies Emerging Modes Of Business Notes Set B
Chapter 6 Social Responsibilities of Business and Business Ethics
CBSE Class 11 Business Studies Social Responsibilities Of Business And Business Ethics Notes Set A
CBSE Class 11 Business Studies Social Responsibilities Of Business And Business Ethics Notes Set B
Chapter 8 Sources of Business Finance
CBSE Class 11 Business Studies Sources Of Business Finance Notes Set A
CBSE Class 11 Business Studies Sources Of Business Finance Notes Set B
Chapter 9 MSME and Business Entrepreneurship
CBSE Class 11 Business Studies Small Business Notes Set A
CBSE Class 11 Business Studies Small Business Notes Set B
Chapter 10 Internal Trade
CBSE Class 11 Business Studies Internal Trade Notes Set A
CBSE Class 11 Business Studies Internal Trade Notes Set B
Chapter 11 International Business
CBSE Class 11 Business Studies International Business Notes Set A
CBSE Class 11 Business Studies International Business Notes Set B

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