Commerce Exam > Commerce Videos > Business Studies (BST) Class 11 > Introduction & Scope of Emerging Business & Difference Between Traditional Business & E Business
Introduction & Scope of Emerging Business & Difference Between Traditional Business & E Business Video Lecture | Business Studies (BST) Class 11 - Commerce
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37 videos|146 docs|44 tests
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FAQs on Introduction & Scope of Emerging Business & Difference Between Traditional Business & E Business Video Lecture - Business Studies (BST) Class 11 - Commerce
| 1. What is the scope of emerging business? |  |
Ans. The scope of emerging business refers to the potential growth and opportunities that arise from new and innovative business ideas, products, or services in the market. It includes various aspects such as technological advancements, changing consumer preferences, and untapped markets that offer potential for business growth and success.
| 2. How does e-business commerce differ from traditional business? | |
Ans. E-business commerce refers to conducting business activities electronically over the internet, whereas traditional business involves physical presence and face-to-face transactions. The main differences between the two include the mode of operation, customer reach, cost structure, and level of convenience for both businesses and customers.
| 3. What are the advantages of e-business commerce over traditional business? | |
Ans. Some advantages of e-business commerce over traditional business include:
1. Global reach: E-business allows businesses to reach a wider audience globally, breaking geographical barriers.
2. Cost-effective: E-business eliminates the need for physical stores or offices, reducing overhead costs associated with traditional business.
3. Convenience: Customers can shop online anytime and anywhere, providing them with a more convenient shopping experience.
4. Personalization: E-business allows businesses to collect and analyze customer data, enabling personalized marketing and tailored product offerings.
5. Efficiency: E-business streamlines processes, automates tasks, and reduces manual work, leading to increased operational efficiency.
| 4. What are some challenges faced by emerging businesses? | |
Ans. Some challenges faced by emerging businesses include:
1. Limited resources: Emerging businesses often face constraints in terms of capital, skilled workforce, and infrastructure.
2. Competition: Entering an established market can be challenging due to competition from existing players.
3. Uncertainty: Emerging businesses operate in a dynamic environment where market trends, customer preferences, and regulations can change rapidly, creating uncertainty.
4. Technology adoption: Keeping up with technological advancements and implementing them effectively can be a challenge for emerging businesses.
5. Brand recognition: Building brand awareness and establishing a reputation in the market can be difficult for emerging businesses with limited resources.
| 5. How can emerging businesses embrace e-business commerce? | |
Ans. Emerging businesses can embrace e-business commerce by:
1. Building an online presence: Creating a website or an e-commerce platform to showcase products or services.
2. Leveraging social media: Utilizing social media platforms for marketing, customer engagement, and brand building.
3. Implementing secure payment systems: Ensuring the safety of online transactions by adopting secure payment gateways.
4. Offering personalized experiences: Utilizing customer data to personalize marketing efforts and provide a tailored experience to customers.
5. Adapting to mobile commerce: Optimizing websites and platforms for mobile devices to cater to the increasing number of mobile users.
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Nov 24, 2024 Last updated |
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