A broad variety of definitions and introduction to the topic are offered by NCERT Solutions for Class 11 Business Studies, which includes all the questions provided in the NCERT books.
Economics is a social science concerned with the production, distribution (allocation) and expenditure or utilization of goods and services. It is a study of how individuals, trades, governments and countries make choices on the distribution of resources in order to convince their needs and to try to determine how these categories should combine and coordinate efforts to achieve maximum output. Economic analysis generally advances through analytical processes, more like mathematical logic, where the inferences of distinct human pursuits are reflected in the “means-ends” substructure.
NCERT Solutions of the 11th Std Business Studies has been provided to ace up your preparation. Access and use the direct links available for Chapterwise Class 11 NCERT Solutions whenever you want. The detailed approach used to explain the NCERT Solutions of the 11th Std Business Studies makes it easy for you to understand the concepts behind them.
NCERT Solutions is said to be an extremely helpful book during the preparation of the CBSE Class 11 Business Studies Exams. This study material has deep knowledge, and the solutions collected by the subject matter wizards are not separate.
NCERT Solution For Class 11 Business Studies Chapter 5 – Emerging Modes Of Business provides us with all-inclusive information on all concepts. As students would have to learn the basics about the subject of economics in class 11, this curriculum for class 11 is a comprehensive study material, which explains the concepts in a great way.
- State any three differences between e-business and traditional business.
Here are some of the differences between Traditional and e-Business
|Basis of Comparison||Traditional Business||E-Business|
|Ease of formation||Difficult to form as there are many formalities for setting up such a business||Relatively easy to setup|
|Setup cost||Very high cost upfront||Minimal setup cost|
|Market Reach||It is restricted only to the area in which it is established.||Nationwide reach as people are connected on web|
- How does outsourcing represent a new mode of business?
Outsourcing refers to the activity of delegating non-core activities of the organization to an external organization that specialized in providing such services. This helps the organization to focus more on their core business and develop innovative solutions that make their product more useful to consumers. Therefore, outsourcing has become a new business in the current era.
- Describe briefly any two applications of e-business.
E-business has following applications:
a) E-procurement: It involves transactions between business firms which are buyers and sellers. The transaction also includes reverse auctions in which many sellers want to sell their product to a buyer. In a digital market, there are many players and many players as sellers or single sellers.B) E-delivery: This process involves electronic transfer of movies, games, or software delivered directly to the consumer’s system using high speed data services. Payments are processed over the Internet.
- What are the ethical concerns involved in outsourcing?
Ethical concerns involved in outsourcing are:
1. To cut the cost of production, industries that exist in developed countries move their production house to an economically weak country, where labor is cheaper, and children and women are exploited. Such steps raise ethical concerns over outsourcing.2. Gender based discrimination in wages exists between men and women in developing countries and hence women get less amount to work as labor. This bias also raises questions and is a concern for outsourcing services.
- Describe briefly the data storage and transmission risks in e-business.
Data is exposed to many risks while it is being stored or transacted. This can occur as a result of hacking or theft of important information with the help of viruses or intentionally modifying it. Such attacks can cause data corruption. Online transactions also pose significant risks in transmission. The following types of risks can occur when data is transmitted online.1. If a seller denies that an order was made by the buyer or vice versa. 2. Goods may be delivered to the wrong address or goods may not be delivered at all.3. In some cases the seller refuses to receive payment while the receiver is debited.
- Why are e-business and outsourcing referred to as the emerging modes of business? Discuss the factors responsible for the growing importance of these trends.
The business has undergone many changes and developed over the past decade. The way in which the business is conducted is known as the mode of business. E-business and outsourcing are known as emerging modes of business as they have revolutionized the way they conduct business. E-business is related to operating a business using the Internet. It deals with customers and suppliers on the web. All other methods of electronically operated business can be found such as inventory management, warehousing, software development, etc.Outsourcing is the process of delegating the non-core functions of an organization to another organization that specializes in such areas. It reduces the budget of the company to maintain such manpower. An organization benefits from increased experience, efficiency, of employees.Here are some factors that are responsible for the increasing importance of such trends1. New ideas of working with some innovations have led to improvements in business processes.2. Consumers are more aware and demand for higher quality, lower prices, better customer service has increased.3. Businesses need to evolve with new technologies to present more
- Elaborate the steps involved in on-line trading.
Online trading involves the following steps:
- a) Register for online shopping and setup passwords to ensure safety of account.
- b) Place and order items.
- c) Payment done through online purchase mechanisms such as cash on delivery, funds transfer, credit or debit card, cheque, net banking.
- Evaluate the need for outsourcing and discuss its limitations.
Outsourcing refers to the process where non-core business activities are awarded on contract to agencies specializing in such work. This helps the business to focus more on areas that are of greater importance. It has the following advantages:1. It helps an organization to focus on core areas which helps them to come up with more innovation in the market2. Work outsourced to a specialist organization helps in increasing the efficiency of the organization.3. A large-scale organization will find it difficult to cut costs in back office operations if the office is located in their country of origin, it will be more economical if the same work is outsourced.However, outsourcing has some limitations and they are:1. Information leakage can occur when the organization performing the task chooses to share information with rival organizations.2. Quality can suffer as the organization to which the contract is awarded wants to start making more profit.3. There may be social unrest in countries where work is outsourced, this can lead to disturbances.
- Discuss the salient aspects of B2C commerce.
Here are some of the salient aspects of B2C Commerce:
1. It provides consumers 24 hours a day with the help of regional and global support centers.2. Products can be promoted across geographies and as a result reach more consumers.3. Advertising costs are low because it can be done using online promotional tools such as social media, websites, etc.4. Consumers are able to pay using many available options such as debit card, credit card, net banking or cash on delivery and attractive EMI options are also provided.5. Customers can get products as per their taste and choice.
- Discuss the limitations of electronic mode of doing business. Are these limitations severe enough to restrict its scope? Give reasons for your answer.
Some limitations of electronic mode of doing business are:
- Security is one of the areas where trading is threatened by electronic mode in the form of phishing, unknown vendors, virus attacks, leakage of card details.
2. Unlike traditional businesses, e-commerce lacks personal touch, as buyers and sellers are not physically present at the time of purchasing the product. In some areas people still prefer the traditional way of doing business3. Online businesses require knowledge of computers or smartphones and are therefore quite confusing for those who are not very much into technology. Also, server crashes, Internet connectivity issues are also a change for most consumers.Despite all this, e-commerce is gaining popularity as many changes have been made on the technology front and the public is being educated about Internet enabled technologies. Nowadays websites are more user friendly due to the lack of personal touch. The penetration of mobile broadband across the length and breadth of India will help in the expansion of e-commerce and encourage people to shop.
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