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Questions
Distinguish between Traditional business and E-business.
How is e-business different from traditional business?
Distinguish between the following:
Traditional business and E-business
Write any two differences between traditional business and E-business.
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Solution
| Sr. No. | Point of distinction |
Traditional business |
E-Business |
| 1. | Formation | A traditional business takes a lengthy and complicated procedure to form. | E-Business is easy to form. |
| 2. | Setting up cost | It takes huge capital in order to setup. | It takes a very nominal cost. |
| 3. | Risk involved | Less risk is involved as parties have personal interaction. | High risk involved as there is no direct contact between the parties. |
| 4. | Scope of business | Traditional business is limited to a particular area, so the scope is limited. | E-business covers the entire world and so the scope is vast. |
| 5. | Customer interaction | Face to face interaction is possible. | In e-business, there is an absence of face-to-face interaction. |
| 6. | Physical inspection | Goods can be inspected physically before purchase. | E-business resources focus on demand-side. |
| 7. | Resources focus | Traditional business resources focus on supply-side. | E-business resources focus on demand-side. |
| 8. | Delivery of goods | In traditional business, delivery of goods is instant. | In E-business delivery of goods takes time. |
| 9. | Usage | It is ancient and still in usage where the digital network is not reachable. | It is used to save valuable time and money. |
| 10. | Accessibility | It is available during the limited time. | It is available round the clock. |
| 11. | Scope | It is difficult to perform more business in this model. | More business can be done easily without any hassles. |
Notes
Students should refer to the answer according to their question and preferred marks.
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Group ‘A’ |
Group ‘B’ |
|
A) E-business |
1) Consumer to consumer |
|
B) B2C |
2) Exist everywhere |
|
C) Outsourcing |
3) First step |
|
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E) Registration |
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6) BPO |
|
|
7) RTO |
|
|
8) Efficient business |
|
|
9) Exist only in cyberspace |
|
|
10) Last step |
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| Group A | GroupB | |
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| D) | Subset of E-business | ____________ |
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| (6) Decides the ways and means to achieve what has been planned | |
| (7) Branch of social science | |
| (8) Efficient business | |
| (9) Commercial bank | |
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