Justify the following statement. It is easy to set up e-business as compared to traditional business. - Organisation of Commerce and Management

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Answer in Brief

Justify the following statement.

It is easy to set up e-business as compared to traditional business.

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Solution

  1.  E-business is run, managed, and carried out with the help of information technology, i.e. web (internet). However, traditional business is run, managed, and carried out in accordance with specific old custom or trading practices of long-lasting.
  2.  In traditional business large, physical space is needed, to arrange and display a variety of goods. It needs a large amount of capital to have the infrastructure, staff, and other required facilities. e-business can be started, managed, and operated with the help of the internet from any place or even from one's own home. Naturally, it requires very little capital. It is also easy to set up.
  3. In traditional business, time is required to travel, to convince, to negotiate, and to interact with the customers. In such a process a lot of time, energy, and money are wasted. While in e-business required information is provided and accepted with terms and conditions more instantly.
  4. E-business is also free from most of the problems faced by traditional businesses. Thus, it is easy to set up an e-business.
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Chapter 5: Emerging Modes of Business - Exercise [Page 111]

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