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Question
Write short answers for the following question:
What are the advantages of e-business?
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Solution
The advantages of e-business are as follows:
i. Ease of Formation - The investment required to start up e-business is almost negligible as it does not require much capital or resources for the physical establishment of the business. Thus, it becomes a comparatively easier mode of trading than the traditional one.
ii. Global Access - E-business provides a worldwide access to the business. Businessmen are able to extend their sale of products to a large number of consumers across the world. Similarly, the consumers also get to choose from a variety of goods. Thus, it can be said that e-business provides a global access.
iii. Ease of Access - Unlike traditional modes of business, e-business provides easy accessibility to the consumers, as they can access products from anywhere and order them anytime.
iv. Consumer-Friendly - E-commerce saves time and effort of the consumers by providing a wide range of payment options to its customers such as debit cards, credit cards, cash on delivery and EMIs. All these options are quite safe and secure.
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