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Important Questions for CBSE Class 11 Business Studies Chapter 5 - Emerging Modes of Business

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Last updated date: 19th Jun 2024
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CBSE Class 11 Business Studies Chapter 5 Important Questions - Free PDF Download

Important Questions for CBSE Class 11 Business Studies Chapter 5 - Emerging Modes of Business is given in this article in the form of a free pdf. 


Emerging Modes of Business studied in CBSE Class 11 Business Studies is another vital chapter that must be studied intently. We have prepared all the important questions and answers from this chapter and presented them to you in the form of a free pdf. 


These free-to-download pdf notes are prepared by expert Business Studies teachers from the latest edition of CBSE(NCERT) books. So study reliably. 


Additionally, you can register for Online tuition on Vedantu.com to score more marks in the CBSE examination.


CBSE Class 11 Business Studies Chapter 5 ‘Emerging Modes of Business’ - Topics Covered 

Following are the topics that are covered in CBSE Class 11 Business Studies Chapter 5 - Emerging Modes of Business:

  • Emerging Modes of Business

  • e-Business

  • Features of e-Business 

  • Benefits of e-Business

  • Limitation of e-Business

  • Successful e-Business Implementation

  • Online Transactions 

  • Payment Mechanism

  • What is e-Commerce?

  • Types of e-Commerce Business

  • Difference between Traditional and e-Business 

  • Outsourcing 

  • Advantages of Outsourcing 

  • Disadvantages of Outsourcing 

  • Business Process Outsourcing

  • Knowledge Process Outsourcing 

  • Important Questions and Answers

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Study Important Questions for Class 11 Business Studies Chapter 5 – Emerging Modes of Business

Very Short Answer Questions (1 or 2 marks)

1. What does 'e' stand for in e-business?

Ans: 'E' stands for electronic in e-business. E-Business is described as the use of computer networks to conduct business, trade, and commerce. E-business is a more comprehensive phrase that encompasses a wide range of electronic business transactions and services, including the well-known e-commerce transactions.

 

2. What is "e' commerce?

Ans: E-commerce refers to a company's online interactions with its customers and suppliers. Other electronically conducted company tasks such as production, inventory management, product development, accounting, finance, and human resource management are included in e-business.

E-commerce (electronic commerce) refers to the purchasing and selling of goods and services, as well as the transmission of payments and data, over an electronic network, most commonly the internet. Business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer, and consumer-to-business transactions are all a part of e-commerce. Examples of E-commerce are Amazon, Flipkart etc.

E-business is a more comprehensive phrase that encompasses a wide range of electronic business transactions and services, including 'e-commerce' operations. 


3. Jyoti wanted to sell her mobile phone but did not get any buyer. On her friend's suggestion she posted the mobile on sale on wwrw.olx.com and found a buyer within two days. Name the type of e-business.

Ans: It is a form of C2C commerce. Consumers are the source of the business, and consumers are the ultimate destination. This form of business is best for dealing with items for which no recognized market mechanism exists. 

For example eBay, Quikr, etc where consumers sell their goods and services to other consumers are a form of C2C. The payment intermediary is another technology that has arisen to facilitate C2C activity.

 

4. What is outsourcing?

Ans: It refers to a long-term contracting out of non-essential but core activities to captive or third-party specialists in order to benefit from their knowledge, competence, efficiency, and, in some cases investment. 


5. Ram stays in a hostel in the USA and his parents stay in Mumbai. Ram's birthday is in five days and his parents wish to give him a pair of branded shoes. How can they give gifts?

Ans: They can use E-commerce for this situation. Companies like Amazon, Flipkart are examples of B2C type of E-commerce. 

In the above case, Ram’s parents can order the shoes for him, and in the address column, they can fill in the details of Ram’s USA address. For payment, Ecommerce sites provide various payment options such as online payment, cash on delivery etc. So in this case, as the shoes are a gift from Ram’s parents to him, they can make the online payment, and add Ram’s address in the address column. E-commerce websites provide diverse varieties of goods, and ordering from them is much faster, convenient and easier as against traditional methods of buying. 

Though his parents could also courier the gift, but due to time limitations, practicing this option is not possible.


6. What do you mean by Intra-B Commerce?

Ans: Intra-B Commerce refers to the type of e-commerce, where parties involved in the electronic transactions are from within a given business firm. It is partly owing to the usage of intra-B commerce that today's businesses are able to engage in flexible manufacturing. The use of computer networks allows the marketing department to communicate with the production department on a continuous basis, allowing for the creation of personalized products according to the needs of each unique customer. 

For example Virtual Private Network (VPN) technology would mean that employees do not have to come to the office. Instead, the office comes to them, and they can work from anywhere they want, at their own pace and on their own schedule. Tweetings can be held online via tele/ video conferencing

 

7. State an important feature of outsourcing?

Ans: The important feature is outsourcing of interchangeable or fungible Activities, that is the activities which are undifferentiated can be outsourced but unique and distinct activities can't be outsourced to a third party.


8. Briefly state the scope of e-business on the basis of business function?

Ans: E-business has a wide scope. 

Scope on the basis of business Function:

In this, the scope includes the electronic execution of the following activities, but is not only limited to:

  • Management Functions such as 

  • Planning, 

  • Organizing, 

  • Staffing, 

  • Directing

  • Controlling

  • Production,

  • Marketing and Sales,

  • Inventory Management, 

  • Product Development, 

  • Human Resource Management, 

  • Accounting And Finance,

  • Procurement,

  • Research And Development,

  • Customer Relationship Management,

  • Business Intelligence.

  • Information System

  • Training And Development


9. Briefly state the scope of e-business on the basis of parties involved in electronic transactions?

Ans: The scope of business on the basis of parties involved can be bifurcated in three aspects:

  • B2B (Business-to-Business): In this the transactions are conducted between two businesses, 

  • B2C (Business-to-Customers): In this, the interaction of transactions takes place between the business and its customers. For example, Amazon.

  • Intra-B: In this the interaction of transactions are within  a firm's internal processes.

 

Short Answer Questions (3 or 4 Marks)

10. Distinguish between e-commerce and e-business.

Ans: The Differences between E-business and E-commerce are:

Basis

E-business

E-commerce

Meaning

E-Business is described as the use of computer networks to conduct business, trade, and commerce.

E-commerce refers to a company's online interactions with its customers and suppliers.

Scope

E-business is a more comprehensive phrase that encompasses a wide range of electronic business transactions and services, including the more well-known 'e-commerce' operations. 

E-business encompasses not just e-commerce, but also production, inventory management, product creation, accounting and finance, and human resource management.


Concept

It is a superset of ecommerce.

It is a subset of e-business.

Type of transactions

Business transactions take place under this.

Commercial transactions take place under this.

Use of Internet

Internet, intranet, extranet, all are used.

It involves compulsory use of the internet.


11. What do you mean by -

(i) B2B Commerce 

Ans: B2B Commerce

  • In this, both parties involved in e-commerce transactions are businesses, hence the term B2B (business-to-business) was coined.

  • A business must engage with a number of other businesses in order to create utility or deliver value. These businesses may be suppliers or vendors of various inputs, or they may be part of the distribution channel through which a company distributes its items to clients.

  • For example turtle.com


(ii) B2C Commerce

Ans: B2C Commerce

  • Commercial-to-customer (B2C) interactions involve business organizations on one hand and their customers on the other.

  • It encompasses a wide range of internet marketing operations such as identifying activities, promoting them, and occasionally even delivering items.

  • It enables a business to be in touch with its customers on a round-the-clock basis which helps in knowing the customer satisfaction level.

  • For example Amazon, Nykaa etc.


(iii) Intra-B Commerce

Ans: Intra-B Commerce

  • The parties participating in electronic transactions are all from the same company.

  • Today's businesses are able to engage in flexible manufacturing in great part due to the use of intra-B commerce. The use of computer networks allows the marketing department to communicate with the production department on a continuous basis, allowing for the creation of personalized products according to the needs of each unique customer.

  • For example customized manufacture of mobiles and laptops requires interactions of varied departments of a firm. 


 (iv) C2C Commerce

Ans: C2C Commerce

  • The consumer is the source of the business, and consumers are the ultimate destination.

  • This form of business is best for dealing with items for which no recognized market mechanism exists.

  • For example ebay, Etsy etc.

 

12. Explain briefly points in opposition with outsourcing?

OR

Explain any four limitations of electronic mode of doing business. Are these limitations severe enough to restrict its scope? Give reasons for your answer.

Ans:  The limitations of outsourcing are given below:

  1. Confidentiality:

  • Outsourcing necessitates the exchange of a great deal of critical information and knowledge.

  • It can harm the interest of the party that outsourcers its processes and even has a risk of competitive firms getting started.

  1. Sweat Shopping:

  • in order to save money the outsourcing companies seek help of low cost, low quality manpower in order to reap the maximum benefits. 

  • Hence instead of developing thinking skills to perform a work on its own, the firm prefers the doing skills, that is making the other firm do the task for them.

  1. Ethical Concerns:

  • In order to cut the cost of outsourcing the work to some other country where the work is done in an unethical way.

  • For example work is accomplished by doing child labor.

  1. Resentment in the Home Countries:

  • Employment or jobs are ultimately contracted out when manufacturing, marketing, research and development, or IT-based services are contracted out.

  • This may cause resentment back in the home country if the home country suffers from the problem of unemployment.

 

13. State three benefits of e-business?

Ans: The three benefits of e-business are as follows:

  • No geographical boundaries: Anyone, from anywhere, can order anything at any time. On the one hand, it allows the seller access to the global market, while on the other hand, it gives the buyer the option to select products from virtually any area of the globe.

  • Flexible Business Hours: Because the internet is constantly available, you may set your own business hours. The time limitations that location-based firms face are broken down by e-business.

  • Speed And Efficiency: Online ordering systems can process payments and orders in real-time, usually faster, more accurately and cheaper than human workers.

 

14. State three limitations of e-business?

Ans: The three limitations of e-business are:

  1. Online Security Concerns: Many scammers prey on those who conduct business online. Additionally, hackers have an easier time obtaining someone’s financial information. It has a few concerns with security and integrity. This creates skepticism among potential clients.

  2. Product Delivery Time: Product delivery takes time. This lag time often discourages customers. Though efforts are made by the companies to lessen the delivery time. For example, Amazon now assures one-day delivery.

  3. Lack of Personal Touch: As a person cannot touch or feel the product, there are always doubts regarding the quality, size, design, etc. Hence, the sense of humanity and trustworthiness is absent from an e-business paradigm.

 

15. In detail explain the features of outsourcing?

Ans: Features of Outsourcing are:

  1. Interchangeable Activities: Common or undifferentiated activities can be outsourced whereas unique and distinct activities cannot be outsourced as it needs personal efforts and touch of the management.

  2. Explicit, formal, and codifiable knowledge is required: Although an IT programmer's job can be outsourced, a CEO's position requires management, technical, and human relations skills.

  3. Measurable Activity: You can't outsource something you can't quantify.

  4. Activity is not interconnected to other jobs: A fungible, specialized, and measurable job may not be outsourced if it is linked to other key operations within the company.


Long Answer Questions (5 or 6 marks)

16. Elaborate the steps involved in online trading.

Ans: The process of online trading is explained below:

Step 1 - Registration:  

  • When you register with an online retailer, you create an 'account.'

  • A "password" must be entered among the numerous details since the areas relating to one’s "account" and "shopping basket" are password protected.

Step 2 - Placing an order: 

  • You can add products to the shopping cart by dragging and dropping them.

  • A shopping cart is an online record of what one has added to his cart while visiting an online store. 

  • Once you've decided what you want to buy, you may 'checkout.'

Step 3 - Payment Mechanism:

Online purchases can be made in a variety of ways.

  • Cash-on Delivery: Payment for the goods ordered online may be made in cash at the time of physical delivery of goods.

  • Cheque: The online vendor may arrange for the customer's cheque to be picked up. The delivery of products may be undertaken after realization of the amount paid. 

  • Net-Banking Transfer: The funds can be transferred electronically through facilities such as NEFT, RTGS etc.

  • Credit or Debit Cards: Credit cards allow its holder to make purchases on credit. The amount owed by the cardholder to the online seller is assumed by the card-issuing bank, which then transfers the transaction's amount to the seller's credit. A debit card permits the holder to make purchases up to the amount of money in the linked account. The moment a transaction is made, the amount due as payment is deducted electronically from the card.

  • Digital Cash: This type of currency has no physical qualities, but it allows you to utilize real money in an electronic format, such as through e-wallets or PayTm.

 

17. Explain Nature and the need for outsourcing services.

Ans: The nature of outsourcing is:

  • Activities that are interchangeable or fungible: They can be outsourced, whereas activities that are unique cannot be outsourced.

  • Explicit, formal, and codifiable knowledge is required: Although an IT programmer's job can be outsourced, a CEO's position requires management, technical, and human relations skills.

  • Measurable Activity: You can't outsource something you can't quantify.

  • Activity is not interconnected to other jobs: If a fungible, specialized, and measurable position is linked to other key operations within the organization, it cannot be outsourced. 


Need for outsourcing:

  1. Delimiting the Scope of Business:

  • Business firms are realizing the usefulness of focusing on just a few areas where they have distinct capabilities or core competence, and contracting out the rest of the activities to their outsourcing partners.

  • Delimiting  the scope of business enables them to focus their attention and resources on select activities for better efficiency and effectiveness.

  1. Quest of Excellence:

  • In two ways, outsourcing allows the company to strive for excellence. One, due to their narrow focus, individuals excel in the activities that they can do best.

  • They also succeed by increasing their capabilities by outsourcing out the remaining tasks to people who excel at them.

  1. Cost Reduction:

  • Division of labour and specialisation improve quality while also lowering costs.

  • This occurs when outsourcing partners benefit from economies of scale by providing the same service to multiple organisations.

  • Cost reduction is also aided by differences in the prices of various production inputs across countries.

  1. Growth through Alliance:

  • To the extent one can avail of the services of the others, the investment requirements are reduced.

  • As a result, a company can grow quickly because the same quantity of investible funds creates a big number of firms.

  • Inter-organizational information sharing and collaborative learning are facilitated by outsourcing.

  1. Economic Development:

  • Outsourcing, more offshore outsourcing stimulates entrepreneurship, employment and exports in the host counties (i.e., the countries from where outsourcing is done).


OR


Why are e-business and outsourcing referred to as the emerging modes of business? Discuss the factors responsible for the growing importance of these trends?

Ans: E-business and outsourcing have changed the way businesses were done traditionally, these are growing each day, and have a great future ahead as well. E-businesses and outsourcing are innovative concepts which have raised the value of the businesses, facilitated more convenience, and added more efficiency in business activities such as procurement, production, marketing etc. This is why they are called as emerging modes of businesses:

The factors responsible for the growing importance of outsourcing and e business:

  • They assist in making high-quality products more affordable: The demand for high-quality, custom-made products has risen, and e-commerce and outsourcing are playing an increasingly important role in supplying consumers with what they want at a fair price. E-business and outsourcing assist in achieving the goal of excellence by enabling the manufacture and supply of high-quality products.

  • Facilitate innovation and technology development: Every firm needs to innovate and develop new ideas and products in order to stay competitive. E-business and outsourcing have emerged as a boon for producers in this setting, as they allow for the ongoing development of company strategies and new technology.

  • They accelerate the business process: As customer demands expand, it has become important to facilitate trade from anywhere and at any time. E-commerce and outsourcing help to speed up the purchasing and selling procedure around the clock.

  • They lay the path for efficient after-sales support: It is critical for any firm to cater to its clients' demands. Customers benefit from e-commerce and outsourcing because they can get rapid and effective post-sale services.


18. Www.oLX.in, www.quicker.com etc are examples of websites used to conduct business. Dipti's sofa set got spoiled in the rain. Her friend suggested that she should change the fabric so that it looks new and put it for sale on www.olx.com Dipti followed her friend's advice and got her sofa repaired so that it looks better and uploaded nicely clicked pictures on www.olx.com in without disclosing the fact that it was damaged from inside. She found a customer and sold it for Rs.9,000. After one week the buyer found the real state of the sofa set and called Dipti but she did not answer any of the calls.

(i) Name the type of business in the above case.

Ans: C2C business. 


(ii) Which values did Dipti ignore while selling her sofa set?

Ans: Dipti gave false information about the product. Due to a lack of personal touch, one cannot feel the product before buying. Hence values of honesty and transparency was ignored by Dipti.


(iii) Explain two advantages and disadvantages of e-commerce

Ans:  The advantages and disadvantages are:

Advantages of E-Commerce

  • No Geographical Boundaries: Anyone, at any moment, can order anything from anywhere. On the one hand, it provides access to the worldwide market for the seller, while on the other side, it allows the buyer to select products from nearly any area of the globe.

  • Workable Business Hours: Since the internet is always available. E-business eliminates the time constraints that local enterprises face.

Disadvantages of e-commerce

  • Online Security Concerns: There are many scammers who prey on those who conduct business online. Additionally, hackers have an easier time obtaining a person’s financial information. It has a few concerns with security and integrity. This instills skepticism in the minds of certain potential clients.

  • Product delivery time: Product delivery takes time. This lag time often discourages customers. On the other hand, businesses are attempting to address these difficulties by offering extremely short delivery times. 


19. Explain briefly the benefits of e-business.

Ans: The benefits of e-business are:

  • Easy to Set Up: We can set up an online business even by sitting at home if we have the required software, a device, and the internet.

  • Cheaper than Traditional Business: It is less expensive to start an e-company than it is to start a traditional firm. Furthermore, transaction expenses are significantly reduced.

  • There are no Geographical Limitations: Anyone can order anything from anywhere at any time. On the one hand, it provides access to the worldwide market for the seller, while on the other side, it allows the buyer to select products from nearly any area of the globe.

  • Workable Business Hours: Since the internet is always available. E-business eliminates the time constraints that local enterprises face.

  • Speed and Efficiency: Online ordering systems can process payments and orders in real-time, usually faster, more accurately, and cheaper than human workers.

  • Transition to a Paperless Society: The internet has significantly reduced reliance on paperwork. Administrative reforms aimed at speeding up the process of giving permissions, approvals, and licenses are being implemented using e-commerce platforms.


20. Difference Between e-Business and Traditional Business.

Ans: The differences Between e-Business and Traditional Business:

Basis

Traditional Business

E-Business

Ease of formation

Difficult

Simple

Physical presence

Required

Not required

Location requirements

Proximity to a raw material source or a market for the products.

None

Cost of setting up

High

Low as no requirement of physical  facilities.

Operating cost

Fixed costs connected with procurement, storage, production, marketing, and distribution facilities are high.

Low because of reliance on a network of relationships rather than resource ownership.

Nature of contact with suppliers and the customers

Indirect through intermediaries.

Direct

Nature of internal communication

Hierarchical; 

From top level

Management to middle level 

Management  to lower level

Management  to operatives


Non-hierarchical, 

Allowing  direct vertical, horizontal  and diagnostic communication.

Response time for meeting customers/internal requirement

Long

Instantaneous

Shape of organizational structure

Vertical/tall due to hierarchy or chain of command

Because of the directness of the order and communication, it is horizontal/flat.

Business processes and length of the cycle

Sequential precedence succession Relationship i.e. 

Purchase- production/operation- marketing- sales. The, business processes  cycle is therefore, longer


Simultaneous (concurrence) different processes. Business cycle is therefore shorter.

Opportunity for interpersonal touch

Much more 

Less

Opportunity for physical pre- sampling of the product

Much more

Less

Ease of going global

Less

Much cyberspace is truly without boundaries

Government patronage

Shrinking

Much as IT Sector is among the top most priorities of the government

Nature of human capital

Semi skilled and even unskilled manpower needed

Technically and professionally qualified personnel needed

Transaction risk

Low due to arm's length transaction and face-to-face contact

High due to distance and and anonymity of the parties


21. Explain risks involved in e-business in detail?

Ans: There are various types of risks involved in e-business:

  1. Transaction Risks:

  • Either the seller or the buyer refuses to have taken or placed the order. This is also known as 'default on order taking/giving.'

  • It is possible that the planned delivery does not occur, that items are delivered to the incorrect address, or that goods other than those requested are delivered. This could be referred to as "default on delivery."

  • The seller does not get payment for the items provided, despite the fact that the consumer states that payment was made. This may be referred to as 'default on payment'.

  • As a result, in e-business, the seller or the buyer may be exposed to risk as a result of order taking/giving failure. 

  1. Data Storage and Transmission Risks:

  • Data in the systems and on the way is vulnerable to a variety of threats. For nefarious motives or simply for fun/adventure, important data may be stolen or manipulated.

  • Antivirus software  installed and updated on a regular basis, scans files and discs, and proves helpful in protecting data files, folders, and systems against virus attacks.

  • During transmission, data could be intercepted. For this, one may use cryptography. Data in the systems and on the way is vulnerable to a variety of threats. 

  • For nefarious motives or simply for fun/adventure, important data may be stolen or manipulated. The communication can only be deciphered (or decrypted) into 'plaintext' by those who have a secret key.

  1. Risks of Threats to Intellectual Property and Privacy Include:

  • Once the material is available on the internet, it is no longer considered private. It got more difficult to protect it from being copied after that.

  • Data provided during online transactions may be shared with others, who may begin flooding one’s inbox with advertising and promotional materials.


Important Questions for CBSE Class 11 Business Studies Chapter 5 ‘Emerging Modes of Business’ - Benefits of the Important Questions and Answers

Emerging Modes of Business is the 5th chapter in CBSE Class 11 Business Studies subject. This chapter is very crucial from the CBSE Class 11 examination point of view as well from knowing the real commerce world point of view, thus we have prepared a series of selective important questions and answers from this particular chapter, but how will it be useful for the CBSE Class 11 students? Check the following to know:

  1. The important questions and answers are prepared by our expert teachers here at Vedantu, thus these questions are prepared after a thorough knowledge of the exam pattern and vitality of the concepts, the students can thus totally rely on these important questions and answers in order to prepare for their exam effectively. 

  2. Important questions and answers will help the students to know the important concepts thoroughly without even referring to their main study book, thus these pdf notes provide extra leverage of knowing only the important crux of the content. 

  3. The Chapter - Emerging Modes of Business in business studies consists of many important concepts, thus the students can get those notes in one pdf only this will ensure total knowledge of the important concepts of the chapter where nothing will be missed out. 

  4. These notes can also be studied before the CBSE Class 11 Business Studies exam in order to revise the important topics of the chapter only, this will help the students to revise faster and in an efficient manner. 


CBSE Class 11 Business Studies Chapter 5 Emerging Modes of Business - Extra Questions (Solved) for Practice

In this section, we will be providing you with some extra questions which will further help you in practice before your Business Studies exam.


1. What is B2E Commerce?

Ans. B2E Commerce means ‘Business to Employee’ where businesses reach out to all the potential and best employees who will upgrade their business to higher levels. 


2. List down the common applications of E-Commerce.

Ans. The common applications of E-Commerce are as follows:

  • Retail and Wholesale

  • Online Marketing

  • Finance

  • Manufacturing

  • Online Booking

  • Online Publishing

  • Digital Advertising

  • Auctions

How to Study Business Studies? Tips to Study Better

  • Study the context of the chapter well. 

  • Practice with HOTS types of questions and answers (High Order Thinking Skills).

  • Know the main crux of the chapter. 

  • Study the objectives, benefits, and disadvantages of the topics well. 

  • Study the previous year’s question papers.

  • Study from reliable notes like CBSE Class 11 Business Studies Revision Notes


Conclusion

With the help of these important questions and answers from CBSE Class, 11 Business Studies Chapter 5 - Emerging Modes of Business will help the CBSE Class 11 students to prepare for their exam in a full-fledged manner. 


Students are advised to download the free-to-download pdf and enjoy free learning from this content. Also, they are suggested to take note of suggested tips to study business studies better. 

FAQs on Important Questions for CBSE Class 11 Business Studies Chapter 5 - Emerging Modes of Business

1. What are emerging business models?

Emerging modes of business refer to new ways of doing business, such as e-business and outsourcing. Business is a type of activity that aims to create utility or value in the form of goods and services that consumers and businesses acquire to fulfil their needs and desires. Each mode has its own set of benefits and features. We must study each of them in great detail to get a better understanding of how businesses function in today’s world.

2. What are e-business and its benefits Class 11?

An e-business strategy attempts to reduce operational expenses while increasing productivity and improving the bottom line by connecting internally and externally through the internet, intranet, or extranet. It allows greater customer responsiveness, transparent company communication, and enhanced vendor connections. Electronic commerce can be conducted using either online storefronts or marketplaces. It is possible to purchase and sell products and services online through the use of a marketplace website. Among the most popular online markets are Amazon, eBay and so on. For revision notes and thorough explanations, visit Vedantu.

3. What do you mean by e-commerce?

E-commerce (electronic commerce) refers to the process of purchase and sale of goods and services, as well as the transaction and the transmission of cash and data, through an electronic network, most often the internet. Some major examples are Business-to-business (B2B), business-to-consumer (B2C), and consumer-to-business transactions, and so on, which are very popular these days. E-commerce is one of the major sectors of business that is emerging at a very rapid pace these days.

4. How can I download the PDF file for the Solutions of NCERT Class 11 Business Studies Chapter 5?

The solutions are easily available on the Vedantu site. 

  • Visit the page Important Questions for CBSE Class 11 Business Studies Chapter 5.

  • The webpage with Vedantu’s solutions for Class 11 Business Studies Chapter 5 will open.

  • To download this, click on the Download PDF button and you can view the solutions offline. 

All other types of problems and solutions with their plausible explanations are also provided on the Vedantu website and on the Vedantu app at free of cost.

5. Why is Outsourcing called the emerging model of business?

Outsourcing is a new way of doing business. It's quickly becoming a popular business model. Companies are progressively outsourcing one or more of their processes that can be carried out more efficiently and effectively by others. It allows an organization to focus on its core tasks while outsourcing less critical duties to specialized firms. Company self-sufficiency is no longer the norm. Normal company tasks are outsourced, but in recent years even some essential functions have been outsourced.