Obviously, website is not a physical location. It refers to a long-term contracting out generally the non-core and of late even some of the core activities to captive or third party specialists with aview to benefitting from their experience, expertise, efficiency and, even investment. It refers to the process of encrypting data and transforming it to cyphertext, an unreadable format. The limitations of e-business according to emerging modes of business are: Lack of Trust: The disadvantage of e-business is it lacks direct communication between the seller and the buyer. Lack of Security: There is a lack of system security, reliability, standards, and some communication protocols. high due to the distance and anonymity of the parties. Presently, we have 60 per cent of the $150 billion (1 billion = Rs. Use of computer networks makes it possible for the marketing department to interact constantly with the production department and get the customized products made as per the requirements of the individual customer. Limitations of e-Business (I) Low personal touch : High-tech it may be, e-business, however, lacks warmth of interpersonal interactions. Are you feeling skeptical about choosing the right career field? client / server risk. Tarashas sofa set got spoiled in the rain. Explain briefly any four limitations of e-business. 1. Low Personal Touch Interpersonal touch between businessmen and the consumer is very important. Unlike the BPO model, in KPO, the primary focus is to outsource knowledge and expertise.. The language used is crisp and simple. This incongruence may play on the patience of the customers. Not only do they require the product features be tailor-made to suit their requirements, but also the convenience of delivery and payment at their pleasure. CBSE CBSE (Arts) Class 11. The notes of chapter 5 business studies class 11 can be accessed by the students both online and offline. Physical goods need to be transported, which takes time and costs money. At times, due to technical reasons, web sites take unusually long time to open. The entire Business Studies course is divided into 2 parts: The class 11 Business Studies exam is for a total of 100 marks, 80 marks are for the theory and the remaining 20 for the project. Once the information is available over the internet, it moves out of the private domain. Nature Of Contact With The Suppliers And The Customers. If outsourcing involves complete processes/products, there is a further risk of the outsourcing partner starting up a competitive business. Tarashas sofa set got spoiled in the rain. identify the type of business highlighted in the above case. 1- Business to Business (B2B) Here, both the parties involved in e-commerce transactions are business firms. 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. Viewed from this perspective, a firms electronic transactions and networks can be visualized as extending into three directions viz., (I) B2B which is a firms interactions with other businesses,(ii) B2C i.e., a firms interactions with its customers and (iii) intra-B or a firms internal processes. The business firms hand over the task of designing and carrying on advertisement campaign to outsourcing firm. Is it something that matters in the preparation for competitive exams? At times, e-commerce can feel impersonal. 4. 6. 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. What trends are radically reshaping business by contracting mainly non-core activities to third parties to discuss its need in today's world? The Limitations of EC The limitations of EC can be grouped into technical and non-technical categories. Question from very important topics is covered by Exemplar Questions for Class 11. E-commerce is a technology driven activity which require an infrastructure that supports the seamless location, transfer, and integration of business information in a secure and reliable manner. The limitations are as follows 1. 13) No geographical limitations A physical store is located in a particular place and in most cases the people who live nearby come and visit it. Security The biggest drawback of e-commerce is the security of business information. E stands for Electronic therefore it actually means Electronic Business. 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. To assist you with that, we are here with notes. High, because various costs has to be incurred in terms of rent payment etc. You can also access it through our student dashboard. Insufficient telecommunication bandwidth. Information can be transmitted by post too, but this again is quite a time consuming and expensive process. E-business encompasses not just e-commerce, but also production, inventory management, product creation, accounting and finance, and human resource management. Moreover, one does not know even the location from where the parties may be operating. Apart from financial returns, outsourcing facilitates inter-organizational knowledge sharing and collaborative learning. It is recommended to rigorously go through the contents of the book. The parties participating in electronic transactions are all from the same company. In this respect, the provisions of Information Technology Act 2000 are quite noteworthy. In fact, e-commerce tools are affecting the administrative reforms aimed at speeding up the process of granting permissions, approvals and licenses. After, discussing the recent fire breakout in their area, they decided to take fire insurance for their. 1. Hope these notes will help you understand the important topics and remember the key points for exam point of view. Delayed Delivery For the sake of the candidates we are providing Class 11 Mock Test / Practice links below. 2. Delays were a regular issue with government mail services. The questions would be based on the NCERT textbook for class 11 Business Studies. There are a lot of aspects of business studies that students need to have a clear understanding of in order to secure a good score in the exam and also to apply the knowledge practically in the future. Doing it via electronic mode suufers serious limiations. (i) Registration Before on-line shopping one has to register with the on-line vendor by filling up a registration form. Reading Time: 11 minutes Ecommerce is a booming industry. The insurance company acquired the burnt material and approved his claim. Security has been a concern since its inception and is considered a major disadvantage of e-commerce. Ans. Candidates who are studying in Class 11 can also check Class 11 NCERT Solutions from here. But think for a moment if the power goes into the wrong hands. So it is difficult for the consumers to check the quality of the product, until the order has been delivered. Technical Limitations of EC There is a lack of system security, reliability, standards, and some communication protocols. Use of the internet has considerably reduced dependence on paperwork. This can result in distrust and apprehensions Defence Colony, New Delhi, Measurable Activity: You can't outsource something you can't quantify. Uttar Pradesh 201301, Devonshire House, 60 Goswell Road, Companies utilise an 'electronic eye' to keep track on your computer files, email account, and internet visits, among other things, so as to gain knowledge about your interests, preferences etc. Class 11 Private, Public and Global Enterprises In a similar vein, closer computer-based interactions among the other departments makes it possible for the firm to reap advantages of efficient inventoryand cash management, greater utilization of plant and machinery, effective handling of customersorders, and effective human resource management. It allows the transaction from credit cards . Customer Support Services:All durable items need an after-sales or customer support service to register and respond to consumer concerns. This may be referred to as . Once you've decided what you want to buy, you may 'checkout.'. Simultaneous (concurrence) different processes take place at a time. Cashless Payment - E-Commerce allows the use of electronic payment. The questions can also be categorized on their difficulty level: Students need to prepare well for the case-based questions before appearing for their class 11 Business Studies exam. Security. Disclaimer | From top level management to middle level management, and then to lower level management to operatives. This lag time often discourages customers. Enter for latest updates from top global universities, Enter to receive a call back from our experts, Scan QR Code to Download Leverage Edu App, Check Out the Difference Between e-Commerce and e-Business, Explore Career Options in Commerce Stream. 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. 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. Here are some given case study questions for CBSE class 11 Business Studies. In other words, depending upon what businessa company is in, there will be some activities that are central and critical to its basic business purpose. It can harm the interest of the party that outsources its processes and even has a risk of competitor firms getting information about that company. 8. Limitations of e-Commerce By Dinesh Thakur Limitations of ecommerce: 1. Faster Service: It provides speedy service as peoples do no need to stand in queues for paying their . To Whom It May Concern:The U.S. Chamber of Commerce (Chamber) is responding to the Employee Benefit Security Administration's (EBSA) Proposed Amendment to the Prohibited Transaction Exemption (PTE) 84-14 (Proposed Amendment). (Business Studies), Business Studies syllabus of class 11 CBSE, Case Study Passage (Business Studies class), Sample case-based Questions in Business Studies, How To Prepare For Case-based Questions? One, due to their narrow focus, individuals excel in the activities that they can do best. Shopping cart is an online record of what you have picked up while browsing the online store. Vertical/ tall due to hierarchy or chain of command. In this mode of banking, the transaction is done through online platforms. Needs explicit knowledge that is formal and codifiable, Activity is not interconnected to other jobs. There are three phases of doing business in e-business or online. Housekeeping is a core activity for a hotel. 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 . Will the company receive a claim if the surveyor from the insurance company comes to know the real cause of fire? A business must engage with a number of other businesses in order to create utility or deliver value. The most common cybersecurity threats to your credentials are data theft, phishing, malware attacks, hacking, and . Here are a few disadvantages of e-commerce from the Indian point of view. Class 11 Business Studies syllabus is not very vast but has to be focussed upon as it forms the base for your 12th grade Business Studies syllabus. E stands for Electronic therefore it actually means Electronic Business. We have mentioned above that the scope of e-business is quite vast. So, let us go through this blog containing simplified notes on the topic. You cannot "test" the perfume that you want to buy. Just as intercom facilitated voice communication within the office, intranet facilitates multimedia and even 3-D graphic communication among organizational units for well-informed decisions, permitting better coordination, faster decisions and speedier workflows. Net-banking Transfer: Modern banks provide to their customers the facility of electronic transfer of funds over the Internet using Immediate Payment Service (IMPS), NEFT and RTGS. e-business refers to Carrying on business activities through internet.. Setting up an e-commerce business requires a website (e-commerce store) where products are displayed with descriptions, and buyers can purchase through payment gateways like Razor Pay, CC Avenue, Authorize.net, etc. After being sure of what you want to buy, you can checkout and choose your payment options. With the help of Class 11 Mock Test / Practice, candidates can also get an idea about the pattern and marking scheme of that examination. There are many reasons to support this argument. Emerging modes of business is an essential chapter of business studies class 11 syllabus. Difference Between E-Business and Traditional Business. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This is very good answer of mine question Thnku soooooooooo..much buddy for this . Our team will review it before it's shown to our readers. They are sometimes more satisfied by purchasing at physical outlets by properly checking the product before buying. Hi, Mahak!! (I) Outsourcinginvolves contracting out: Literally, outsourcing means to source from outside what you have hitherto been doing in-house. It is, therefore, appropriate that we familiarize ourselves with how e-business is conducted. 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. The last stage is the payment mechanism which means the method the consumer chooses to pay. From e-commerce to digitally-conducted product development, production, inventory management, finance, human resource management, and accounting all come under the purview of e-business. You know that in the digital era, money is defined as electronic pulses atthe speed of light, thanks to the electronic funds transfer technology of e-commerce. Freshwater, Sydney, NSW 2096, Then, there also are problems of virus, and hacking, that you must have heard of. In class 12 CBSE Board, However we will examine only the direct effects of increase in GDP on economic welfare. Australia, Leverage Edu Tower, You may then use the digital funds to make purchases over the web. So, what the firm that goes in for outsourcing look for is the doing skills rather than development of the thinking skills. Reach out to our Leverage Edu career experts and they will assist you with the best knowledge. Much as IT sector is among the topmost priorities of the government. More Opportunities For "Selling.": The results of this research showed that the main limitations of ecommerce in Jordan appeared to be related to nontechnical limitations. As the organizations venture to experiment with outsourcing, they may initially outsource only the non core activities. Creates social differences as technical knowledge is a must for using e-commerce. Many people are capable of conducting online business. (d) Customer Support Services All durable goods require after sale or customer support service to register and attend the complaints of the customers. Clearly, therefore, if the task of performing some activity internally is sufficiently large, it may be beneficial for the firm to have a captive service provider, i.e., a service provider set up for providing services of a given kind to only one firm. Make sure you have studied from the previous year's question papers as well. Technical Limitations 10. It got more difficult to protect it from being copied after that. It is a core subject of the commerce stream that is purely theoretical and relevantly easier than the other compulsory subjects of the stream. Response Time For Meeting Customers /Internal. So it is difficult for the consumers to check the quality of the product, until the order has been delivered. 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. Outsourcing helps the organisation to focus and work on its core activities giving the organisation enough flexibility to find innovative ideas to make a standpoint in the market. The moment a transaction is made, the amount due as payment is deducted electronically from the card. PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper methods such as checks and money orders.The company operates as a payment processor for online vendors, auction sites and many other commercial users . Of course, for municipalities and sanitations services providers, these activities comprise the core of their business activity. 3/4 MARKS QUESTIONS : State any three difference between e-business and traditional business. On the one hand it allows the seller and access to the global market, on the other hand It offers the buyer freedom to choose products from almost any part of the world. The biggest drawback of e-commerce is the security of business information. In fact, administrative reforms are attracting E-Commerce solutions to speed up the process of giving rights, approvals, and licenses. Revise from our ready-to-revise revision notes. One of the most significant disadvantages of using E-commerce is the compromised privacy and security of your data. Privacy Policy, Social Responsibilities of Business and Business Ethics. This simple definition leads one to the salient features of the concept that are not peculiar to an industry/business or country, but have become a global phenomenon. It is a broad term that encapsulates all business functions and transactions that are conducted electronically, and not merely sales. Why is e-banking referred to as the emerging mode of business? One can significantly save time if they follow a reversal pattern, that is going through the questions before reading the comprehensive case study passage. So it is difficult for the consumers to check the quality of a product. These questions can be based on each chapter in the NCERT book for Business Studies, grade 11. Private outsources provide quick transportation of shipments and samples, therefore businesses rely on them. It would not be an exaggeration to say that in the absence of internet, globalization would have been considerably restricted in scope and speed. Following are some common limitations of e- business :-1) Low personal touch:- However its quite smart mode of business. You can add products to the shopping cart by dragging and dropping them. Limitations of e - Business 1. Creation of utilities or delivering value requires a business to interact with a number of other business firms which may be suppliers or vendors of diverse inputs; or else they may bea part of the channel through whicha firm distributes its products tothe consumers. The notes will give the students a clear picture of the scope, benefits, limitations, and various factors that give rise to a different mode of business behaviour. The scope of BPO is broad and can range from financial services to customer support, advertising, courier, software solutions, etc. Activities that are Interchangeable or Fungible: Activities that are not distinguishable can be outsourced, whereas unique activities cannot. It also fosters customer confidence. If you wish to get more case study questions and other study material, download the myCBSEguide app now. For example Amazon now guarantees delivery within one day. E-advertising offers the following advantages : (i) Low Cost : As compared to print and TV online banners are inexpensive. What are the two applications of e-business? Online business takes extra time to deliver the products to the consumers. Your investment requirements are minimised to the extent that you can utilise the services of others; others have already invested in such activities for you. It has a few concerns with security and integrity. All the modes have their own features and advantages, let us study them in detail. To this extent, it is relatively less suitable mode of business in respect of product categories requiring high personal touch such as garments, toiletries, etc. Students are supposed to prepare themselves thoroughly from the NCERT textbook. Discussed here are the key features of e-business that students will learn in class 11 emerging modes of the business chapter: As mentioned in the chapter, students will also gain knowledge of the reasons why the e-business model has surfaced and achieved popularity.
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