State any three differences between e-business and traditional business. - Business Studies

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State any three differences between e-business and traditional business.

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Solution

The differences between traditional business and e-business are presented in the table below.

Basis of difference Traditional business e-Business
Ease in formation Formation is relatively difficult as there exist numerous formalities that are required to be fulfilled Relatively easier to start
Internal communication Follows a hierarchical communication structure (from top to bottom) Follows a non-hierarchical communication structure (no defined structure)

Start-up cost

Heavy start-up cost Relatively low start-up cost (as physical facilities are not required)
Market access Access is restricted to the physical domain. Access is comparatively wide and unlimited.
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Chapter 5: Emerging Modes of Business - Short Answer Questions [Page 140]

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NCERT Class 11 Business Studies
Chapter 5 Emerging Modes of Business
Short Answer Questions | Q 1 | Page 140

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