Revision Notes for CBSE Class 11 Business Studies Chapter 5 - Free PDF Download
The Business Studies Class 11 Chapter 5 ‘Emerging Modes of Business’ notes cover precise explanations of all the topics covered in the chapter, which will help the students to understand the concepts better. This chapter covers topics like BPO, e-business, e-commerce, etc. The notes will give the students a clear picture of the scope, benefits, limitations, and various factors that give rise to a different mode of business behaviour. Download and refer to the Business Studies Class 11 Chapter 5 Notes PDF for free from Vedantu.
FAQs on Emerging Modes of Business Class 11 Notes CBSE Business Studies Chapter 5
1. What are the three stages of online transactions?
There are three stages of online transactions which are mentioned in class 11 BST ch 5 notes. These stages are as follows.
The pre-purchase or sale stage- This stage includes advertising and information seeking that are relevant to the transaction.
The purchase or the sale stage- This stage involves price negotiation, the closing of purchase or sales deal, and payment.
The delivery stage- This is the final stage of online transaction that involves the delivery of the product.
2. What are the features of outsourcing?
Outsourcing has been defined as a long term contract of both core and non-core activities. There are certain features of outsourcing discussed broadly in class 11 business studies ch 5 notes, which are mentioned below.
Interchangeable or Fungible activities
Activity is Measurable
Needs explicit knowledge that is formal and codifiable
Activity is not interconnected to other jobs
However, there are certain concerns over outsourcing that involves confidentiality, sweat shopping, ethical concern, or resentment in the home countries.
3. What do you mean by Emerging Modes of Business in Class 11?
'Emerging Modes of Business' is a chapter in Class 11 which deals with the variety of modes that are being introduced in service sectors in recent days. We, as a customer, do not have to rely on physical markets anymore, with the emergence of online shopping and online banking methods. E-commerce and outsourcing have made businesses quite simple and convenient for both producers and consumers. Along with that, the W's and H's of E-commerce are explained in detail in this chapter.
4. Why is e-banking referred to as the emerging mode of business?
E-banking, also known as electronic banking or online banking has become a widespread method of transaction across the world. In E-banking, the transaction between the seller and the buyer does not take place physically. In this mode of banking, the transaction is done through online platforms. The E-banking mode of transaction is considered by most people today because of its 24x7 availability. Anyone can avail of E-banking services on their mobile phones or other devices.
5. What are the features of E-business in Class 11?
Following are the features of E-business:
E-businesses are easy to set up. Unlike shops and malls, they just have to be set up on the internet platform.
There are no geographical barriers. Anyone across the world can avail of the services provided by E-businesses.
There is no kind of interaction between the buyer and the seller.
Online business takes extra time to deliver the products to the consumers.
There are no set hours of trading. Anyone can buy the products from anywhere at any time.
For more information, students can download the CBSE Class 11 Business Studies revision notes free of cost from the Vedantu website (vedantu.com).
6. What trends are radically reshaping business by contracting mainly non-core activities to third parties to discuss its need in today's world?
A trend that is radically reshaping business by contracting mainly non-core activities to third parties is ‘Outsourcing’. An increasing number of businesses are turning to outsource as an alternative to in-house work. When a business operation or specific business activity is given to an agency as a contract, it's known as "outsourcing". A formal agreement with a particular agency is required for most companies to outsource security, sanitation, household, and other services. It is cost-effective and enhances the performance of the business.
7. Why does E-business, referred to as the emerging mode of business explain its scope and benefits to business?
Purchase for goods and services online as well as other important business functions are all part of E-business. Electronic business includes planning, organising, marketing, and production functions.
Scopes of E-business:
B2B (Business to Business) Commerce
B2C (Business to Consumer) Commerce
C2C (Consumer to Consumer) Commerce
Benefits of E-business:
E-business can be easily established and formed anywhere and doesn’t need an industry setup.
It is convenient and flexible.
Anyone across the globe can access E-business.
It offers fast and rapid service.