Chapter emerging-modes-of-business: Emerging Modes of Business Short Questions | business studies Class 11 CBSE

Chapter emerging-modes-of-business: Emerging Modes of Business Short Questions | business studies Class 11 CBSE | ByteNotes.in

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Question 1

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What is e-business? How does it differ from e-commerce?

e-Business is the conduct of industry, trade, and commerce using computer networks, encompassing all electronically managed business functions including production, HRM, and finance.
e-Commerce is a narrower term covering only a firm's interactions with its customers and suppliers over the internet, such as online buying and selling.
e-Business includes e-commerce as a subset but also covers intra-firm functions like inventory management, product development, and accounting conducted electronically.

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Question 2

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Explain the concept of B2B commerce with an example.

B2B (business-to-business) commerce refers to electronic transactions in which both parties are business firms, such as a manufacturer and its component suppliers.
In B2B commerce, computer networks are used for placing orders, monitoring production and delivery of components, and making electronic payments between firms.
Example: An automobile manufacturer uses a computer network to place orders with multiple component vendors and track stock-in-transit, ensuring timely production.

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Question 3

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What is C2C commerce? How do platforms like eBay make it more secure?

C2C (consumer-to-consumer) commerce refers to electronic transactions where both the initiator and the recipient are individual consumers, suitable for selling used goods like books or clothes.
eBay makes C2C commerce more secure by allowing buyers and sellers to rate each other, so future buyers can assess a seller's trustworthiness based on past transaction ratings.
Payment intermediaries like PayPal add another layer of security by holding the buyer's payment until the goods are shipped and accepted, preventing fraud.

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Question 4

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State the meaning of digitisation and explain why it is considered one of the strongest trends shaping business.

Digitisation is the conversion of text, sound, images, video, and other content into a series of ones and zeroes that can be transmitted electronically.
Digitisation is a key trend because it enables businesses to communicate, transact, and deliver products at unprecedented speed and at a fraction of traditional costs.
It has enabled e-business, breaking down time and geographical barriers and making it possible to conduct business anytime and anywhere across the globe.

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Question 5

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What is intra-B commerce? How does it enable flexible manufacturing?

Intra-B commerce refers to electronic transactions that take place within a single business firm between its various departments or personnel, using an intranet.
It enables flexible manufacturing by allowing the marketing department to communicate customer specifications directly to the production department in real time via the computer network.
This constant interaction between departments allows firms to produce customised products to individual customer requirements, achieving mass customisation at lower costs.

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Question 6

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Explain the benefit of 'ease of formation and lower investment requirements' in e-business.

Unlike traditional business, e-business does not require procedural formalities for physical setup, making it relatively easy to start and operate.
Internet technology equalises opportunities for both big and small businesses — the phrase 'networked individuals are more efficient than networthed individuals' captures this benefit.
For example, a person can operate an online restaurant portal by networking with physical restaurants, earning a commission without needing any physical space or large capital investment.

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Question 7

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What is the 'digital divide'? Why is it considered a limitation of e-business?

The digital divide refers to the division of society between those who are familiar with and have access to digital technology and those who are not.
e-Business requires all parties to have a fairly high degree of familiarity with computers — beyond the traditional 3R's of reading, writing, and arithmetic.
This requirement excludes a large section of the population, especially in rural areas, from participating in e-business, restricting its reach and scope.

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Question 8

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Explain the limitation of 'incongruence between order taking and order fulfilment speed' in e-business.

In e-business, information flows instantly at the click of a mouse, meaning orders can be placed in seconds, creating high expectations for quick fulfilment.
However, physical delivery of goods takes time regardless of how quickly the order was placed, creating a mismatch between the speed of ordering and delivery.
This incongruence can frustrate customers and reduce their satisfaction, especially when websites also take unusually long to load due to technical issues.

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Question 9

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What are 'transaction risks' in e-business? Give two examples.

Transaction risks in e-business refer to the probability of financial, reputational, or psychological losses arising from online transactions going wrong.
Example 1 — Default on order: The seller denies the customer ever placed an order, or the customer denies having placed it, leading to disputes about orders.
Example 2 — Default on delivery: Goods may be delivered to the wrong address, the wrong goods may be delivered, or the intended delivery may not take place at all.

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Medium

Question 10

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What is cryptography? How does it protect data in e-business?

Cryptography is the art of protecting information by transforming it (encrypting it) into an unreadable format called 'cyphertext' to prevent unauthorised access.
Only those who possess the correct secret key can decrypt the cyphertext back into readable 'plaintext', ensuring that intercepted data cannot be understood by third parties.
In e-business, cryptography protects sensitive information such as financial data and personal details that are transmitted over the internet during online transactions.

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Question 11

Quick Recall

What is a 'computer virus'? Describe its levels of impact.

A computer virus is a self-replicating program (series of commands) that installs itself on other computer systems, often without the user's knowledge, with the acronym VIRUS standing for Vital Information Under Siege.
Level-1 viruses cause minor annoyance through on-screen displays; Level-2 viruses disrupt functioning; Level-3 viruses damage target data files.
Level-4 viruses cause complete destruction of the computer system, making anti-virus installation and regular updates essential for protection.

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Question 12

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What are 'cookies' in the context of online transactions? What purpose do they serve?

Cookies are data files stored on a user's computer by an online vendor, functioning similarly to caller ID in telephones by recording and providing customer information.
They store details such as the consumer's name, address, and previous purchase and payment records, helping online sellers verify the identity of returning customers.
Sellers use cookies to confirm that a customer has correctly entered their registration details, reducing the risk of default on order-giving and fraudulent transactions.

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Medium

Question 13

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What is digital cash (e-cash)? How is it obtained and used?

Digital cash is a form of electronic currency that exists only in cyberspace and enables users to make online purchases using real currency in a digital format.
To obtain digital cash, a user pays an equivalent amount to a bank (via cheque or draft), which then issues special software allowing the user to draw digital funds from their account.
The user can then use these digital funds to make purchases over the internet, without using physical currency or credit/debit cards.

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Chapter sections

Chapter emerging-modes-of-business: Emerging Modes of Business | Short Questions

What is e-business? How does it differ from e-commerce?

Explain the concept of B2B commerce with an example.

What is C2C commerce? How do platforms like eBay make it more secure?

State the meaning of digitisation and explain why it is considered one of the strongest trends shaping business.

What is intra-B commerce? How does it enable flexible manufacturing?

Explain the benefit of 'ease of formation and lower investment requirements' in e-business.

What is the 'digital divide'? Why is it considered a limitation of e-business?

Explain the limitation of 'incongruence between order taking and order fulfilment speed' in e-business.

What are 'transaction risks' in e-business? Give two examples.

What is cryptography? How does it protect data in e-business?

What is a 'computer virus'? Describe its levels of impact.

What are 'cookies' in the context of online transactions? What purpose do they serve?

What is digital cash (e-cash)? How is it obtained and used?

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