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Details About CBSE Class 11 Commerce Business Studies Emerging Modes of Business

CBSE Class 11 Commerce Business Studies Emerging Modes of Business : The best recommended CBSE Class 11 Commerce Business Studies Subject wise books for students exam are helping you to get more marks in  exams.  Here we provide and very special article for Best Reference book for CBSE Class 11 Commerce Business Studies for 2017 Exams. In This Article You Can Find CBSE Class 11 Commerce Business Studies Emerging Modes of Business study materials and complete details. here we gave direct download links for CBSE Class 11 Commerce Business Studies Emerging Modes of Business study materials pdf format. Download and read well. 

Details About CBSE Class 11 Commerce Business Studies Emerging Modes of Business

CBSE Class 11 Commerce Business Studies Emerging Modes of Business : The Central Board of Secondary Education is a Board of Education for public and private schools, under the Union Government of India. Central Board of Secondary Education has asked all schools affiliated to follow only NCERT curriculum.

Details About CBSE Class 11 Commerce Business Studies Emerging Modes of Business

CBSE Class 11 Commerce Business Studies Emerging Modes of Business : Download CBSE class 11 Business Studies study material in PDF format. My CBSE guide provides solved papers, board question papers, revision notes and NCERT solutions for CBSE class 11 Business Studies. The topics included are Nature and Purpose of Business, Forms of Business Organisations, Public, Private and Global Enterprises, Business Services, Emerging Modes of Business, Social Responsibility of Business and Business Ethics, Sources of Business Finance, Small Business, Internal Trade, International Business and Project Work.

Concept includes meaning and features

Unit 5: Emerging Modes of Business

E-business-scope and benefits, resources required for successful e-business implementation, online transaction, payment mechanism, security and safety of business transactions

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Outsourcing-Concept: Business process Outsourcing (BPO) and Knowledge Process Outsourcing (KPO)-Concept, need and scope

Smart cards and ATM’s meaning and utility

Download here CBSE Class 11 Commerce Business Studies Emerging Modes of Business

Details About CBSE Class 11 Commerce Business Studies Emerging Modes of Business

CBSE Class 11 Commerce Business Studies Emerging Modes of Business : The world of business in changing e-business and outsourcing are two most obvious expressions of this change. The newer modes of business. E-business and BPO are not new business, but simply the new ways of doing business. Interestingly, the two trends of e-business & BPO are continuing to evolve, and that is why these are referred as “Emerging modes of Business”.

e-Business – Electronic Business : Meaning – Means conducting industry, trade and business using computer network 24×7×365 days a yr. Business (24 hrs. × 7 days × 365 days a year business), there by dismantling the time & space / locational constraints of its performance.

e-commerce : means buying & selling products & services over the internet. It makes use of e-mail, electronic fund transfer etc.

Scope of e-business :

  1. B2B Commerce :- Business to Business – Both the parties are business firm, e.g. Manufacturer of an automobile requires assembly of a large number of components which are being manufactured by different firm; Maruti Udyog, Bajaj auto etc. use B-2-B commerce.
  2. B2C Commerce : – Business to Customer – Transaction taking place between business & individual customers :It facilitates promotion of products on line. e.g. music or film, Companies sell products & services on line to customer e.g. Amul.com sell Amul products online and It is fast & 24 hrs.
  3. Intra – B. Commerce :- Parties involved are from with in a given business firm. It makes it possible for the marketing department to interact constantly with the production department to get information about customer requirement.
  4. C2C Commerce :- Consumer to consumer – Business originates from the consumer & the ultimate destination is also consumer.

Its area of application is the formation of consumer forum. e.g. selling used books over the internet.

Important Note – Preparing for XI & XII Commerce?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
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Comparative Study e-business & Traditional business :

Basis Traditional Business e-business
1. formation Difficult Simple
2. Physical presence Required Not required
3. Locational requirement Market None
4. Cost of setting up High Low/no requirement of physical facility

BENEFITS OF E-BUSINESS :

  • Ease of formation & lower investment requirements :- It is relatively easy to start, no huge stock & capital.
  • Convenience :- 24×7×365 Anywhere, anytime, anything.
  • Speed : Internet allows any transaction alone at a click of mouse
  • Global reach / access : Customers have complete freedom to choose products from almost any part of the world.
  • Movement towards a paper less society : Using internet or mobile phones, thereby reducing dependency of people on paper.
  • Reduced costs : Reduced cash of advertising exchange of information & delivery.
  • Customer convenience & satisfaction : Use of internet to hug goods / services & payment can also be made on line.

Limitation of e-business :

  • Low personal touch: People want to test & feel products like garment, furniture, jewelry etc which is not possible here.
  • Gap between order taking/giving and order fulfillment speed :- Physical delivery takes time & some time due to technical reasons websites takes long time to open.
  • Need for technology capability & competence of parties to e-business :- requires computer knowledge and there is a shortage of skilled persons who can successfully handle e-commerce.
  • Increased risk due to anonymity & non tractability of parties: It becomes difficult to establish the identity of the parties.
  • People resistance: e-business means new ways of doing things with new technology causes stress and a sense of insecurity. So people resist of entry into e-business.
  • Ethical fallout: Companies use an ‘electronic eye’ to keep track of computer files used by their employees, their e-mail accounts etc.

Details About CBSE Class 11 Commerce Business Studies Emerging Modes of Business

CBSE Class 11 Commerce Business Studies Emerging Modes of Business  risks :

I. Transaction risk :

  1. Denial by customer/seller for order placed.
  2. Default on delivery – wrong address & wrong goods delivered.
  3. Default on payment – Seller does not get payment where as customer claims that the payment was made.

II. Data storage and transmission risk :

  1. Virus destroys information
  2. Hacking : means unauthorized entry into website.

III. Risk of threat to intellectual property & privacy :

Once the information in available on internet, it may be copied.

Resources required for successful e-business implementation

  1. Well designed website.
  2. Adequate computer hardware.
  3. Technically qualified and responsive workforce.
  4. Effective telecommunication system.

OUTSOURCING :

Meaning : Outsourcing means contracting out non core & routine activities to outside agencies with a view to benefiting from their experience, expertise & efficency e.g. Reliance Industries Ltd. wants to advertise its ‘Vima’ brand of clothing. it may appoint ‘X Advertising Co. to design, prepare & release advertisements on its behalf.

Nature / Salient features of outsourcing :

  1. Outsourcing involves contracting out :
    e.g. activities like sanitation, (cleanliness) outside agencies on contractual basis.
  2. Generally non-core business activities are outsourced :
      1. Financial Services: e.g. issue of shares / debentures etc.
      2. Advertising Services : avail the services of expert in advertising related work.
      3. Courier Services: with cheaper rates & safety.
      4. Customer Support Service: After sale service i.e. handling diverse complaints from their customers.
  • Processes may be outsourced to a captive unit or a third party :  There are three types of third party service providers.
    1. Captive BPO unit : Provides service of a given kind to only one firm.
    2. Horizontals : Service provided to a wide base of clients, cutting across industries.
    3. Verticals : Specialize in one or two industries & scale up to doing a number of process from non-care of care.

Scope / Segments of outsourcing :

  • Contract manufacturing
  • Contract research
  • Contract sales Information

NEED FOR OUTSOURCING (BENEFITS) :

  1. Focusing on core functions: By contracting out routine / non-care activities, a company can focus on more crucial matters.
  2. Quest for excellence / benefit of specialization : Outsourcing agency provide expertise of concerned function.
  3. Cost reduction: Specialist perform the job at lower price due to large scale services.
  4. Convenience & less investments: The firm need not to invest money in creating & maintaining system for routine & non-care activities.
  5. Economic growth and development : Due to outsourcing every function is performed by the organization most competent to do it. Division of labour & great or specialization helps to maximize productivity & profits limitation of outsourcing.

LIMITATIONS :

  1. Confidentiality : Vital information / knowledge may pan to competitors. via outsourcing firms.
  2. Sweat Shipping : Outsourcing firm try to get maximum benefits from Low-cost manpower.
  3. Ethical concern : Use to child labour in outsourcing firm n unethical.
  4. Resentment in home counters : Contracting out jobs / employment may cause resentment in home countries.

Importance : Questions : (1-10 One mark each) :

  1. Mention any two strongest trends that are shaping the business.
  2. What is e-business.
  3. What is e-commerce.
  4. Mention any two application of e-business.
  5. Give two examples of application of C2C commerce
  6. Mention any two importance of e-business.
  7. How does e-business provide customer convimence?
  8. What is the popular name for credit cards & debit cards.
  9. What is VIRUS.
  10. Mention two types of e-business risks.

3/4 MARKS QUESTIONS :

  1. State any three difference between e-business and traditional business.
  2. What are the opportunities & benefits offered by e-business to the customers.
  3. Explain briefly any four limitations of e-business.
  4. Why are business increasingly outsourcing services. Explain any three reason.

5/6 MARKS QUESTIONS :

  1. Elaborate the steps involved in on-line trading.
  2. How can a business firm assure safety an security of e-transaction? Explain any four methods.

Details About CBSE Class 11 Commerce Business Studies Emerging Modes of Business

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