Question 1

Q1: Why are e-business and outsourcing referred to as the emerging modes of business? Discuss the factors responsible for the growing importance of these...

Accepted Answer

E-business and outsourcing are referred to as 'emerging modes of business' because they represent fundamental changes in the way business is conducted. The prefix 'emerging' highlights that these changes are happening in the present and are trends that are expected to continue and evolve, reshaping...

Question 2

Q2: Elaborate the steps involved in on-line trading.

Accepted Answer

Online trading, or shopping, involves a series of steps that a customer follows to purchase goods or services over the internet. The process can be elaborated in three main stages: 1.  Registration: The first step for a customer is to register with the online vendor. This involves filling out a regi...

Question 3

Q3: Evaluate the need for outsourcing and discuss its limitations.

Accepted Answer

Based on the provided text, the evaluation of the need for outsourcing and its limitations is as follows: Need for Outsourcing: The text suggests that the need for outsourcing arises from the same internal and external pressures that drive the adoption of e-business. Firms are increasingly contracti...

Question 4

Q4: Discuss the salient aspects of B2C commerce.

Accepted Answer

B2C (business-to-customers) commerce refers to transactions where business firms are at one end and customers are at the other. The salient aspects of B2C commerce are:    Wide Scope of Marketing Activities: B2C is not just about online shopping. It encompasses a wide range of marketing activities t...

Question 5

Q5: Discuss the limitations of electronic mode of doing business. Are these limitations severe enough to restrict its scope? Give reasons for your answer.

Accepted Answer

The electronic mode of doing business, or e-business, has several limitations:    Low Personal Touch: E-business lacks the warmth of face-to-face interaction, making it less suitable for products that require a high degree of personal touch, such as clothing or toiletries.    Order Fulfilment Speed:...

Question 6

Q1: State any three differences between e-business and traditional business.

Accepted Answer

Based on the information provided in the chapter, three key differences between e-business and traditional business are: 1.  Ease of Formation: Traditional business is difficult to set up, involving significant procedural requirements. In contrast, e-business is relatively simple and easy to start....

Question 7

Q2: Describe briefly any two applications of e-business.

Accepted Answer

Two applications of e-business described in the chapter are: 1.  e-Procurement: This involves internet-based sales transactions between business firms. It includes activities like 'reverse auctions,' where a single business purchaser interacts with many sellers online to get the best deal. It also f...

Question 8

Q3: Describe briefly the data storage and transmission risks in e-business.

Accepted Answer

Data storage and transmission risks in e-business refer to the dangers that vital information faces both when stored in computer systems and while being sent across the internet.     Data Storage Risks: Stored data is vulnerable to being stolen or modified by unauthorised individuals for selfish mot...

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