Emerging modes of Business | Chapter 5 | One Shot | Class 11 | Business studies
Rajat Arora・14 minutes read
Chapter five discusses emerging modes of online business operations, including e-commerce, B2B, B2C, and C2C transactions, highlighting the benefits and limitations of expanding business online. Traditional businesses require physical presence and investment, while digital businesses operate online, impacting the level of human capital needed and the structure of transactions.
Insights
- Online business operations encompass various modes such as B2B, B2C, C2C, and Intra B, facilitating transactions between businesses, consumers, and departments within an organization, offering benefits like global reach and convenience while posing challenges related to traceability and speed discrepancies.
- The shift from traditional to digital business models highlights differences in structure and human capital requirements, with online shops needing technically proficient personnel for direct interactions with suppliers and customers, contrasting with traditional retail's more interpersonal touch and opportunities for personal interactions throughout the supply chain.
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Recent questions
What is e-commerce?
E-commerce involves buying and selling goods over the internet. It encompasses online transactions between businesses and consumers, offering a convenient way to conduct trade without physical store presence.
What are the benefits of expanding business online?
Expanding business online provides a global reach, lower investment costs, paperless transactions, wider product choices, convenience, and high-speed transactions. These advantages make online business operations attractive for companies looking to reach a broader audience and streamline their processes.
What is B2B business?
B2B business involves transactions between businesses, such as wholesalers selling products to retailers online. This type of business focuses on providing goods and services to other companies rather than individual consumers, facilitating trade relationships between different entities.
What are the limitations of online business?
Limitations of online business include non-traceability of parties, speed discrepancies between order taking and fulfillment, low personal touch in customer interactions, and ethical concerns regarding personal data security. These challenges highlight the importance of implementing secure and efficient online business practices to overcome potential drawbacks.
How does digital business differ from traditional business?
Digital business operates online without physical requirements, offering ease of formation and direct contact with suppliers and customers. In contrast, traditional business models require physical presence and investment in brick-and-mortar stores. The shift towards digital business allows for more flexibility and accessibility in conducting trade, catering to the evolving needs of the modern market.
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Summary
00:00
"Emerging Online Business Modes and Benefits"
- Chapter number five discusses emerging modes of business, focusing on online business operations.
- A business refers to conducting industry, trade, and commerce using computer networks, primarily the internet.
- E-commerce involves buying and selling goods over the internet, while I business encompasses all functions within a business, including product development, accounting, finance, and inventory management.
- B2B business involves transactions between businesses, such as wholesalers dealing with retailers online.
- B2C business involves transactions between businesses and consumers, like online shopping platforms.
- C2C business involves transactions between consumers, such as selling used items online.
- Intra B business occurs when departments within an organization conduct transactions with each other online.
- Benefits of expanding business online include global reach, lower investment, paperless transactions, wider choice, convenience, and high-speed transactions.
- Limitations of online business include non-traceability of parties, speed discrepancies between order taking and fulfillment, low personal touch, and ethical concerns regarding personal data.
- Traditional business requires physical presence and investment, while digital business operates online without physical requirements, offering ease of formation and direct contact with suppliers and customers.
13:25
Impact of Retail Structure on Human Capital
- Traditional retail structures involve a chain from manufacturer to customer, while online shops have a more direct, horizontal structure with less interpersonal touch and a need for technically proficient individuals. This difference in structure impacts the level of human capital required, with online shops needing qualified personnel, and traditional retail having more opportunities for interpersonal interactions.
