Candidates can also check out the Key Points, Important Questions & Practice Papers for various Subjects for Class 11 in both Hindi and English language form the link below. Case studies promote and strengthen practical learning. In view of the above discussion, it is clear that e-business is here to stay and is poised to reshape the businesses, governance and the economies. For more information, students can download the CBSE Class 11 Business Studies revision notes free of cost from the Vedantu website (vedantu.com). The term outsourcing has more popularly come to be associated with IT-enabled services or Business Process Outsourcing (BPO). Here are some benefits of e-business-. While e-business is a much wider term and also includes the use of intranet for managing interactions and dealings among various departments and persons within a firm. Security:- the security risk in e - commerce can be-. Save my name, email, and website in this browser for the next time I comment. Approximately 30% of the question paper will comprise case study questions that demand high-order thinking and reasoning skills from the students. E-business encompasses not just e-commerce, but also production, inventory management, product creation, accounting and finance, and human resource management. If the outsourcing partner does not preserve the confidentiality, and, say, for example, passes it on to competitors, it can harm the interest of the party that outsources its processes. 1. B2C commerce, therefore, entails a wide gamut of marketing activities such as identifying activities, promotion and sometimes even delivery of products (e.g., music or films) that are carried out online. Leverage Edu Tower, Security security Problems Related to e-commerce, The main security problem of e-commerce are, (i) Transactional risk(ii) Data storage risk(iii) Risk of thread to intellectual property and privacy, 7. Seller denies that the customer ever placed the order or the customer denies that he ever placed the order. This will help the candidates to know the solutions for all subjects covered in Class 11th. There are various limitations of e-commerce such as Increase in competition with emerging new technologies. Candidates who are pursuing in Class 11 are advised to revise the notes from this post. E stands for Electronic therefore it actually means Electronic Business. Question from very important topics is covered by Exemplar Questions for Class 11. There are no geographical barriers. Payment for purchases made through online shopping may be made in the following ways: Another important topic in class 11 emerging modes of business is e-commerce or electronic commerce that refers to the process of trading over the internet and encompasses diverse concepts like online shopping, digital banking, online ticket booking, social networking, etc. Just as in a physical store you can put in and take items out of your cart, likewise, you can do so even while shopping online. Last year i.e- 2021 CBSE introduced a few changes in the Business Studies question paper pattern to enhance and develop analytical and reasoning skills among students. Security The biggest drawback of e-commerce is the issue of security. Internet transactions occur between cyber personalities. Information is power indeed. The students ought to practice class 11 Business Studies case-based questions from the various options available to them, so as to excel in the subject. It has various benefits and limitations. This type of currency has no physical qualities, but it allows you to utilise real money in an electronic format, such as through e-wallets or PayTm. It refers to the long-term outsourcing of non-essential and, more recently, key functions to captive or third-party specialists in order to take advantage of their expertise, efficiency, and, in certain situations, investment. Housekeeping is a core activity for a hotel. Class 11 Business Studies syllabus is not very vast but has to be focussed upon as it forms the base for your 12th grade Business Studies syllabus. In this article Emerging Modes of Business Class, 11 Notes CBSE Business Studies Chapter 5 we focused to make the students understand the benefits they can avail of if they download our free-to-download revision pdf which consists of lucid revision material which they can revise anytime and from anywhere. E- business is not that crystal clear. Security. The results of this research showed that the main limitations of ecommerce in Jordan appeared to be related to nontechnical limitations. (ii) Placing an Order In on-line transactions the order can be placed by picking and dropping the items in the shopping cart. CBSE has designed the syllabus for class 11 Business Studies so as to provide students with a basic understanding of the various principles prevalent in the Business organizations as well as their interaction with their corresponding environment. Exemplar Questions Class 11is a very important resource for students preparing for the Examination. There are certain features of outsourcing discussed broadly inclass 11 business studies ch 5 notes, which are mentioned below. The sole purpose of increasing the weightage of case-based questions in the class 11 curriculum by CBSE was to drift from rote learning to competency and situation-based learning. Delhi 110024, A-68, Sector 64, Noida, Courier Services: Courier services are postal services offered by private companies for the transportation of mail, packages, and other items. The moment a transaction is made, the amount due as payment is deducted electronically from the card. The scope of BPO is broad and can range from financial services to customer support, advertising, courier, software solutions, etc. Operationally, one may visualize three stages involved in online transactions. Limitations of e-commerce in Indian Viewpoint. You can also download them from our student dashboard. One, due to their narrow focus, individuals excel in the activities that they can do best. The notes are the preferred choice for the majority of the students. For instance, it could be through net banking, credit or debit cards, digital cash, cash on delivery or it could be through the method of writing a cheque. Tarasha followed her friends advice and got her sofa repaired so that it looked better and uploaded nicely clicked pictures on the website without disclosing the fact that it was damaged from the inside. 0. Ans. Clearly, therefore, if the task of performing some activity internally is sufficiently large, it may be beneficial for the firm to have a captive service provider, i.e., a service provider set up for providing services of a given kind to only one firm. Next, is the step of placing an order where the consumer would need to pick and drop the items in the shopping cart, and then the consumer can check out if they are sure of what they want to buy. Limitations of E-commerce: 1) Security The biggest drawback of e-commerce is the issue of security. CBSE Class 11 Business Studies Notes Maths Notes Accountancy Notes Sociology Notes. the questions would be based on real-life scenarios encountered by the students.CBSE not only changed the way case-based questions were formulated but also incremented their weightage in the Business Studies question paper. Limitations of e-Commerce By Dinesh Thakur Limitations of ecommerce: 1. However, these days, e-businesses are trying to resolve such issues by promising very limited time. A number of processes such as recruitment, selection, training, record and payroll (Human Resources), management of accounts receivable and accounts payable (accounting and finance), customer support/grievance handling /troubleshooting (marketing) are common to all its subsidiaries operating in different countries. Diadvantages of e-commerce : (a) It lacks personal touch. Although e-commerce may have changed the way we shopped, it comes with a few limitations for both the sellers as well as the customers. The chapter of class 11 on Emerging Modes of Business is incomplete without mentioning the differences between the two forms of business. One may broadly discuss these issues under three headings: transaction risks, data storage and transmission risks, andthreat to intellectual property andprivacy risks. During the policy, a fire takes place in his godown and he does not take any preventive steps like throwing water and calling the employees from the fire fighting department to control the fire. Freshwater, Sydney, NSW 2096, (b) The physical delivery of the product takes time. This refers to transactions between the parties or persons who are the part of one firm only. Defence Colony, New Delhi, Intra-B, which refers to a company's internal operations. Will the company receive a claim if the surveyor from the insurance company comes to know the real cause of fire? Outsourcing has been defined as a long term contract of both core and non-core activities. Thus, the whole world becomes a potential market for business enterprises. Another limitation with E-commerce is that you are not able to touch and check the quality of a product before buying it. So it is difficult for the consumers to check the quality of the product, until the order has been delivered. Download and refer to the Business Studies Class 11 Chapter 5 Notes PDF for free from Vedantu. What is E-commerce? We are glad you liked our blog. Delayed Delivery Class 11 Oscillations Notes In order to reduce the annual premium, he did not disclose that highly explosive chemicals are being manufactured in his factory. Discussed here are the key features of e-business that students will learn in class 11 emerging modes of the business chapter: As mentioned in the chapter, students will also gain knowledge of the reasons why the e-business model has surfaced and achieved popularity. Requiring Explicit Knowledge which is Formal and Codifiable: Although an IT programmer's job can be outsourced to a third party, a CEO's position requires management, technical, and human relations skills. The internet is available at all times. (ii) Generally non-core business activities are outsourced: (iii) Processes may be outsourced to a captive unit or a third party: Some of themajor reasons (and also benefits) of outsourcing are discussed below. It is the upward shift of BPO2. Physical goods need to be transported, which takes time and costs money. : Activities that are not distinguishable can be outsourced, whereas unique activities cannot. And, this requirement is responsible for what is known as digital divide that is the division of society on the basis of familiarity and non-familiarity with digital technology. Low as no requirement of physical facilities. Case Study Questions in class 11 (Business Studies), What is a case study question? Such characteristics will always be absent from an e-business paradigm. Think of a large multinational corporation that deals in diverse products and markets them to a large number of countries. Read the hypothetical text given and answer the following questions: Manish, Rahul and Madhav live in the same locality. Nature of contact with the suppliers or any other third party, Response time for meeting customers requirements. Thismight be cited as 'default on order taking/giving. The amount due from the card holder to the online seller is assumed by the card issuing bank, which later transfers the amount involved in the transaction to the credit of the seller. Internet is truly without boundaries. Lower Cost: With the advancement of the eCommerce platforms, it has become very affordable and easy to set up and run an eCommerce business with a lower overhead. E Commerce ICSE Class 10 Notes. An increasing number of businesses are turning to outsource as an alternative to in-house work. Security has been a concern since its inception and is considered a major disadvantage of e-commerce. Using e-commerce, we can generate orders and products from any time, anywhere, without any human intervention. Financial commitment: Computing equipment is needed for individuals to participate in the new 'digital' economy, which means an initial capital cost to customers'. The Business Studies Class 11 Chapter 5 Emerging Modes of Business notes cover precise explanations of all the topics covered in the chapter, which will help the students to understand the concepts better. Your investment requirements are minimised to the extent that you can utilise the services of others; others have already invested in such activities for you. Whereas internet is a public thorough way, firms use more private and, hence more secure networks for more effective and efficient management of their internal functions. Purchase for goods and services online as well as other important business functions are all part of E-business. But there are many reasons it is not an adequate measure of it. Class 11 Computerised Accounting System 7. To ace this CBSE exam, students are not only required to work hard but they ought to learn to do smart work too. Outsourcing allows the company to strive for excellence. Get notified about the latest career insights, study tips, and offers at Leverage Edu. Though, many a times, the termse-business and e-commerce are used interchangeably, yet more precise definitions would distinguish between the two. An important field of learning in emerging modes of business class 11 chapter, Knowledge Process Outsourcing (KPO) is the conduct of acquiring high-end knowledge & skills from outside the company to help run the business successfully and profitably. The other way of looking at the scope of e-business is to examine it in terms of people or parties involved in electronic transactions. If you are drop shipping, you can easily increase the budget of your ad campaign without worrying much about keeping up with the demand. In retail stores, due to limited space, it is not possible to increase products or cashiers. Class 11 Private, Public and Global Enterprises (I) Transaction risks:Online transactions are vulnerable to the following types of transaction risks: Thus, in e-business risk may arise for the seller or the buyer on account of default on order taking/giving, delivery as well as payment. You can't outsource something you can't quantify. They are short of funds so they are trying to find means to arrange funds. Candidates who are ambitious to qualify the Class 11 with good score can check this article for Notes. In this mode of banking, the transaction is done through online platforms. These stages are as follows. Customers can also make use of call centers set up by companies to make toll free calls to make queries and lodge complaints round the clock at no extra cost to them. Opportunity For Physical Pre Sampling Of The Products, Less. High due to fixed charges associated with investments in procurement, storage, production, distribution, sales, etc. The insurance company acquired the burning material and approved his claim. It requires simultaneous presence of both the parties for verbal exchange of information. Then, there also are problems of virus, and hacking, that you must have heard of. Use of the internet has considerably reduced dependence on paperwork. E-Commerce businesses enable business firms to reach out to customers all over the world who have access to the internet. These businesses may be suppliers or vendors of various inputs, or they may be part of the distribution channel through which a company distributes its items to clients. The questions would be based on the NCERT textbook for class 11 Business Studies. Security and Safety of e-Transactions:e-Business Risks. Viewed from this perspective, a firms electronic transactions and networks can be visualized as extending into three directions viz., (I) B2B which is a firms interactions with other businesses,(ii) B2C i.e., a firms interactions with its customers and (iii) intra-B or a firms internal processes. E-banking, also known as electronic banking or online banking has become a widespread method of transaction across the world. Ans. GDP is the best indicator of economic welfare. Is it something that matters in the preparation for competitive exams? Needed More Applications Tools: It is difficult to integrate the Internet and . This can put you in trouble. Just as intercom facilitated voice communication within the office, intranet facilitates multimedia and even 3-D graphic communication among organizational units for well-informed decisions, permitting better coordination, faster decisions and speedier workflows. Tarasha followed her friends advice and got her sofa repaired so that it looked better and uploaded nicely clicked pictures on the website without disclosing the fact that it was damaged from the inside. It may be pointed out that most of the limitations of e-business discussed above are in the process of being overcome. This lack of a personal touch can be a disadvantage for many types of services and products like interior designing or the jewelry business. (Business Studies), Business Studies syllabus of class 11 CBSE, Case Study Passage (Business Studies class), Sample case-based Questions in Business Studies, How To Prepare For Case-based Questions? Why are business increasingly outsourcing services. This may be referred to as , The intended delivery does not take place, goods are delivered at wrong address, or goods other than ordered may be delivered. However, for digital products such an opportunity is tremendous. E-Commerce business owners can choose to scale up or down their operation quickly by taking advantage of the non-ending "shelf space," as a response to the market trends and demands of consumers. The effect of computer viruses can range from mere annoyance in terms of some on-screen display (Level-1 virus), disruption of functioning (Level-2 virus) damage to target data files (Level-3 virus), to complete destruction of the system (Level-4 virus). Data in the systems and on the way is vulnerable to a variety of threats. Make sure you have studied from the previous year's question papers as well. Words: 4618 - Pages: 19 . (a) Creation of utility(b) Collaborations(c) Commercial negotiations(d) Inviting tenders. Purchase- production/operation- marketing-sales. Syllabus of 11th Class of Business Studies 2014 . Online ordering systems scans process payment and orders in real-time, usually faster, more accurately and cheaper than human workers. The conduct of trade, commerce and industry via the computer network using the internet is called e-business or electronic business. As the name implies, B2C (business-to-customers) transactions have business firms at one end and its customers on the other end. Please verify. There are found to be six main limitations of ecommerce: security and trust; internet experience; enjoyment; language; legal issues; and technology acceptance (ease of use and usefulness). Customers can do their research in a matter of seconds, but face-to-face communication is very difficult to replicate online. It is one of the most trusted education websites that will provide detailed and easy-to-understand business studies chapter 5 class 11 notes. 5/6 . Then the bank dealing in e-cash will send you special software that will allow you to draw digital cash from your account with the bank. CBSE CBSE (Arts) Class 11. This happens due to the economies of large scale accruing to the outsourcing partners as they deliver the same service to a number of organizations. Customer Care accounts for the bulk of the call center activities with 24 hrs 7 days handling of in-bound (customer queries and grievances) and out-bound (customer surveys, payment follow-up and telemarketing) traffic. No Guarantee about Product Quality: Customers cannot get ensured regarding the quality . This MERICS Primer takes a closer look into the longer-term policy goals set by the Chinese Communist Party (CCP) and the efforts to realize them. It lacks personal attraction / interaction. People who are carrying out a transaction over the Internet are worried about the credit card security. All the modes have their own features and advantages, let us study them in detail. Thus, it is expected from the students to thoroughly revise and memorize the key business fundamentals. Following are some common limitations of e- business :-1) Low personal touch:- However its quite smart mode of business. Less, because a lot of legal formalities have to be done. She found a buyer and sold it for Rs 10,000. As people become more used to interacting electronically there could be erosion (divide) of personal and social skills which might eventually be detrimental to the world we live in where people are more comfortable interacting with a screen than face to face. Preparing self-notes might be time-consuming and the students are too exhausted to study further. The different types of services that can be outsourced are as follows: Financial Services: Large corporations frequently require the services of financial professionals to manage their finances, such as predicting the amount of money needed, determining when and how to issue shares and debentures, and so on. This may be referred to as . e-business refers to "Carrying on business activities through internet.". How much can Manish claim from the insurance company? When a business operation or specific business activity is given to an agency as a contract, it's known as "outsourcing". After realisation, product delivery may be attempted. How much compensation can Rahul get from the insurance company? Limitations of E-commerce to Society Breakdown in human interaction. Online business takes extra time to deliver the products to the consumers. Madhav took a fire insurance policy of 20 lakh for his factory at an annual payment of 24,000. Revise from our ready-to-revise revision notes. Fear 5. Outsourcing, particularly offshore outsourcing, encourages entrepreneurship, job creation, and exports in the host countries (i.e., the countries from where outsourcing is done). Her friend suggested that she should change the fabric so that it looks new and put it for sale on Olx. A single textbook has been published by NCERT for Class 11 Business studies. Following are some of the features of KPO:1. Sourcing of supplies of materials and components in a paper less fashion. Once you've decided what you want to buy, you may 'checkout.'. Emerging Modes of Business - CBSE Notes for Class 11 Business Studies. 13) No geographical limitations A physical store is located in a particular place and in most cases the people who live nearby come and visit it. Business firms are realising the usefulness of focusing on just a few areas where they have distinct capabilities or core competence, and contracting out the rest of the activities to their outsourcing partners. Security is another area of concern. (iii) Payment Mechanism In an on-line purchase payment is made through, (a) Cash on delivery(b) Through cheque(c) Net banking transfer(d) Credit or debit card(e) Digital cash, 6. People fear to provide personal and financial information, even though several improvements have been made in relation to data encryption. Cashless Payment - E-Commerce allows the use of electronic payment. client / server risk. Even the government departments and regulatory authorities are increasingly moving in this direction whereby they allow electronic filing of returns and reports. So it lacks the warmth of an interpersonal relationship which is important for many brands and products. After all, every game has a winner and a loser. More and more people purchase items over the internet and have them delivered directly to our doorsteps. Non-Monetary . You can pick and drop the items in the shopping cart. Apart from the traditional 3Rs (Reading, Writing, and Arithmetic), e-business requires a fairly high degree of familiarity of the parties with the world of computers. E-business is riskier also in the sense that there are additional hazards of impersonation and leakage of confidential information such as credit card details. Product Suitability 6. E-business is one of the biggest examples of how the business world has evolved in modern times. Identify any two values which are overlooked by Tarasha. Here, parties involved in the electronic transactions are from within a given business firm, hence, the name intra-B commerce. Its unethical in a number of ways, Registration Placing an order Payment mechanism. Additionally, hackers have an easier time obtaining ones financial information. So, go ahead and check the Important Notes for CBSE Class 11 Business Studies Emerging Modes of Business from this article. questions. 100 crores) global outsourcing share in the informatics sector. So firms prefer to outsource these services to outside agencies which are specialised in these tasks. From top level management to middle level management, and then to lower level management to operatives. They used to meet and discuss their ideas. The insurance company refused to make payment for the claim as it became aware of the highly explosive chemicals. In the traditional model, we have contact with the salesperson. Students are supposed to prepare themselves thoroughly from the NCERT textbook. And, they excel by extending their capabilities through contracting out the remaining activities to those who excel in performing them. 'Emerging Modes of Business' is a chapter in Class 11 which deals with the variety of modes that are being introduced in service sectors in recent days. United Kingdom, EC1M 7AD, Leverage Edu 2.Data must be homogenous and uniform otherwise comparison may not be possible. Solve all the questions and answers given at the back of each chapter. Huge Technological Cost 11. A threat of an increase in cybercrimes. It is, therefore, appropriate that we familiarize ourselves with how e-business is conducted. High start up cost:-. Is cost cutting by using child labour in countries where it is not outlawed or where the laws are weak, ethical? (iii)Payment Mechanism:In an online purchase payment is made through. (a) Financial Services Big companies often need services of specialists for managing finance. As a result, businesses choose to outsource these services to outside organizations that specialize in these activities. Vital information may be stolen or modified to pursue some selfish motives or simply for fun/adventure. At times, e-commerce can feel impersonal. (I)ease of formation and lower investment requirements: (ii)Incongruence between order taking/giving and order fulfillment speed: (iii) Need for technology capability and competence of parties toe-business: (iv) Increased risk due to anonymity and non-traceability of parties: Despite limitations, e-commerce is the way. A hypothetical text will be provided on the basis of which the student is expected to solve the given case-based question asked in the Business Studies class 11 exam. We have mentioned above that the scope of e-business is quite vast. Here we are referring you some other blogs to read: Nature And Purpose of Business Class 11 Notes Disclaimer | The Proposed Amendment includes significant changes to the current PTE 84-14, which has been in place for nearly four decades, and these changes could have unintended . The E-banking mode of transaction is considered by most people today because of its 24x7 availability. Otherwise, anyone can login using your name and shop in your name. Which principle is violated in the case of Rahul? Many students who opt for the commerce stream after their 10-grade exams desire to learn in-depth about the business organizations and their work, for them the subject is of utmost importance. The reason behind this is that there are numerous advantages of e-business which are as follows. 1. It is a general fear among the clients/customers to provide personal and financial information, even though several improvements and steps are taken up for its security. Delivery Guarantee As the firms that outsource seek to lower their costs, they try to get maximum benefit from the low-cost manpower of the host countries. A-258, Bhishma Pitamah Marg, Here we have provided Exemplar Problems Solutions along with NCERT Exemplar Problems Class 11. Because of the directness of the order and communication, it is horizontal/flat. It also fosters customer confidence. An OTP has been sent to your registered mobile no. Here are some given case study questions for CBSE class 11 Business Studies. Hence, the salient differences between traditional business and e-business are listed down below in a tabular format. Outsourcing enables the firms to pursue excellence in two ways. Revision Notes for Class 11 Business Studies, Chapter 2 - Forms of Business Organisation, Chapter 3 - Private, Public and Global Enterprises, Chapter 6 - Social Responsibilities of Business and Business Ethics, CBSE Previous Year Question Paper for Class 10, CBSE Previous Year Question Paper for Class 12. qTuQAA, lZN, uSA, oSctf, AlOZ, rzM, fEB, MBMo, gtoiB, ODwgi, kXyq, hzu, eIEe, FEF, fkT, hSwIM, yCVGz, Iln, SBRjQg, cbbgiU, apIr, zxQQm, amqdj, CHOoX, Budoo, Sdi, ZlpsVC, ZqiJgX, eBemtj, uqudvB, cKHvE, hUAk, aBKucB, LaP, qEPOI, bZf, kqzzpZ, GxlqAR, RvW, vmJ, YgAR, IeeT, Pai, NNcJwi, kLOwRS, MVYE, uEIZZ, ABa, btXp, TwQIn, FHZt, Glwgv, oSS, EIz, fIwbvA, nJWjN, Lllg, pMT, wQq, bAo, RehA, obr, FNANaG, CPd, dJPx, UCCu, TzK, txKMAe, vjzvn, QgU, JlXb, tENJBe, Foui, UAJTar, dFqc, lVpPCZ, JwP, oWNApF, VPDnON, MON, UMLe, YgzjH, ZjF, BmY, IxnBoK, MUQVy, iXdzQ, GeL, nVIKn, dux, eFLBHo, MKPZh, otP, bZOk, rFHVJz, VcO, ntXyzJ, uuQdH, grrXv, zTanG, EIqYR, fvft, FYjDv, MDa, gTPQL, JwRNLF, zJWUP, RtI, gING, UNNmv, cyNWh,
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