Chapter 12 of 23
Revision Notes
Emerging Modes of Business — Revision Notes
ICSE · Class 11 · Commerce
Emerging Modes of Business revision notes for ICSE Class 11 Commerce: 4 topics in quick points. Key terms: E, E and E.
65 questions36 flashcards5 concepts
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Key Topics to Revise
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1. Meaning and Concept of E-Business
- E-business means doing business over the Internet.
- E-business does not require physical presence of buyers and sellers unlike traditional business.
- E-business is the result of convergence of information technology and communication technology.
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2. Definitions and Legal Meaning
- E-business has been defined by different authorities in terms of electronic communication and internet-based transactions.
- The legal meaning recognises transactions carried out by electronic data interchange and other electronic communication in place of paper-based methods.
- E-commerce is electronic communication among enterprises, customers, suppliers, business partners, government organisations, and financial institutions.
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3. Scope of E-Business
- There are four directions of e-business transactions: B2B, B2C, C2C, and Intra B-commerce.
- B2B transactions take place between business units.
- B2C transactions take place between business units and customers.
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4. Operational System of E-Business and Online Transactions
- Consumers can get information about products and services from the Internet without moving from place to place.
- Consumers can place orders online after gathering information.
- Some goods and services can be delivered immediately on the computer itself; this is called online distribution.
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Frequently Asked Questions
What are the important topics in Emerging Modes of Business for ICSE Class 11 Commerce?
Key topics in Emerging Modes of Business include Meaning and Concept of E-Business, Definitions and Legal Meaning, Scope of E-Business, Operational System of E-Business and Online Transactions. Study these first, then practise questions on each for Class 11 exams.
How should I revise Emerging Modes of Business for Class 11 exams?
Learn the core ideas first, then work through the 65 practice questions on Emerging Modes of Business. Revise definitions regularly and use flashcards for quick recall before the exam.
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