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CBSE Class 11 Emerging Modes of Business Notes: Here, students can find attached a PDF download link for revision notes for CBSE Class 11 Business Studies Chapter 5, Emerging Modes of Business. CBSE Revised Syllabus 2023-2024 has been referred to in making these notes.
Emerging Modes of Business Class 11 Notes: Students often get panicked and feel distressed during examinations. This mainly occurs because of the pressure to cover huge syllabuses. However, this situation can be altered if students refer to revision notes during their preparation for examinations. Revision notes are the summary of your syllabus, laid down in a format that is easy to understand and grasp. Now, another question that might arise in students’ minds is, won’t making revision notes eat up a lot of their time? The answer is, of course, yes, it will.
To assist you with the same, we have brought to you Revision Notes for CBSE Class 11 Business Studies Chapter 5, Emerging Modes of Business. Notes for other chapters and subjects have also been prepared by our team, links to a few have been provided below. These revision notes have been prepared as per updated CBSE Syllabus 2023-2024, for students appearing in upcoming annual examinations.
Related:
Revision Notes for CBSE Class 11 Business Studies Chapter 1
Revision Notes for CBSE Class 11 Business Studies Chapter 2
Revision Notes for CBSE Class 11 Business Studies Chapter 3
Revision Notes for CBSE Class 11 Business Studies Chapter 4
Mind Maps for CBSE Class 11 Business Studies 2023-2024(PDF)
MCQs for CBSE Class 11 Business Studies 2023-2024(PDF)
Revision Notes for CBSE Class 11 Business Studies Chapter 5 are presented below:
What is E-business?
E-business can be defined as the conduct of industry, trade, and commerce using the computer network
Scope of E-business
- B2B Commerce– When both the parties involved are business firms, it is called B2B Commerce, Business to Business Commerce. A business needs help from other businesses in gathering of raw materials, transportation, product gathering, etc. Through computer/internet, orders can be placed, delivery can be tracked, and payments can be made easily.
- B2C Commerce– Transactions taking place between businesses at one end and their customers on the other are called B2C Commerce. E-business has enhanced B2C Commerce to all possible extent. Be it 24/7 delivery of products, exhaustive and customized marketing, or availability of products in massive numbers, businesses have adapted to every single resort of marketing, through E-business.
- Intra-B Commerce– It deals with electronic transactions within an organization. Just as the intercom facilitated voice communication within the office, the intranet facilitates multimedia and even 3-D graphic communication among organizational units for well-informed decisions, permitting better coordination, faster decisions, and speedier workflows.
- C2C Commerce– This deals with the origination of business from customers and the destination is also customers, thus it is named as C2C commerce. Examples: selling used books or clothes either on a cash or barter basis.
Benefits of E-business
- Ease of formation and lower investment requirements
- Convenience
- Speed
- Global reach/access
- The movement toward a paperless society
Limitations of E-business
- Low personal touch
- Incongruence between order taking/giving and order fulfillment speed
- Need for technology capability and competence of parties to e-business
- Increased risk due to anonymity and non-traceability of parties
- People resistance
- Ethical fall outs
Difference between Traditional Business and E-business
|
Traditional Business
|
E-business |
|
Difficult to start |
Easy Formation
|
|
Requires physical presence |
Does not require physical presence to start it |
|
Cost of setting up high |
Cost of setting up is low since no physical facilities are required
|
|
Operating cost is high |
Operating cost is low
|
|
Indirect contact with suppliers and customers
|
Direct contact with suppliers and customers |
|
Follows a hierarchy from top-level management to low level
|
Does not follow a hierarchy |
|
Shape of organizational structure is Vertical/tall, due to the hierarchy or chain of command |
Shape of organizational structure is Horizontal/flat due to the directness of command and communication. |
Stages of online transactions
Stages for online transactions are categorized into three parts:
- Pre-Purchase/Sale stage- includes advertising and information seeking
- Purchase stage- comprises steps such as price negotiation, the closing of purchase/ sales deal, and payment
- Delivery stage- Except for this stage, all other stages involve the flow of information.
Process of online trading from a customer’s standpoint
- Registration- In order to purchase or view items through an online vendor, you have to register through your email or number and enter a few details. You are also asked to create a password for your profile.
- Placing an order– Users can go through the available items and them to their cart, once they are done choosing, they can checkout and place their order.
- Payment Mechanism– Payment for online shopping can be done in multiple ways:
- Cash-on-delivery, pay after getting your product
- Cheque- A delivery partner can take the cheque from your doorstep
- Net-banking transfer- Banks allow users to make online payments through NEFT, RTGS
- Credit/debit cards- Users can use their credit or debit cards to make digital payments. This is done by entering your card details on the payment portal of the app.
- Digital cash- It is electronic cash that does not have any physical properties. It is issued by banks dealing in e-cash.
For complete Revision notes of Class 11 Business Studies Chapter 5, click on the link below.
Also find:
CBSE Class 11 Syllabus 2023-24 (All Subjects)
CBSE Class 11 Deleted Syllabus 2023-24 (All Subjects)
NCERT Class 11 Rationalised Content 2023-2024 (All Subjects)
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