There are Various Emerging Modes of Business which tell about modern ways to do business activities. It is an era of Globalization and Technology. Every business changing its way of working use of technology and business processes. There is a major change in the business activities which are totally related to e-commerce, e-business, and business process outsourcing.
Meaning of E-Business:
E-business refers to that business that includes activities through the Internet. Business activities consist of industry, commerce, and business. E-business also includes planning, organizing, production, marketing, etc. through the internet. Most of the people and business parties doing their activities electronically. These are the emerging modes of business.
The transactions are categorized into four parts:
1. B2B Commerce:
B2B Commerce means Business to Business transactions. It refers to that type of business that includes transactions between companies or business units rather than business to the individual consumer.
In this type of model, companies make and sell their products to other companies.
For example Amazon Business, IndiaMart, Alibaba (wholesale B2B Marketplace)
B2B includes:
a) Creation of utilities and collaborations
b) Inviting Tenders
c) Distribution of goods from manufacturers to distributors.
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2. BtoC Commerce:
B To C Commerce includes transactions between business and consumer. In this segment business, units provide24* 7-day services to their customers.
For example Amazon Prime, GYM Membership
BtoC transactions include:
a) Selling and distribution
b) After-sale services
c) Marketing activities
3. C to C Commerce:
The transactions which are taking place between Customers and Customers. We can say that every seller is also a customer and the buyer is also a customer. It provides the market system which is secured for sale of used goods and provides the best way for the customer to interact with each other.
For Example Olx, Quikr
C to C transactions include:
a) selling antique items
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b) selling used books, mobiles, clothes, old jewellery, etc.
4. Intra B commerce:
It refers to the transactions between the persons who are part of the firm only and the transactions within the firm are called intrafirm. Intera business transactions make the work easier and speedy. All the departments can take decision faster because of the smooth flow of communication.
In Intra B commerce involve:
a) Interaction between one firm”s departments
b) Provide help regarding the placement of orders.
c) Helpful in employee’s training, recruitment, etc.
E-Business and E-Commerce
In Emerging Trens in Business, E-Business and E-Commerce both are separate terms with different functions. E-Business is a large term, Whereas E-Commerce is a shorter term. E-Commerce deals in the distribution of goods and services on the other side E-business involve everything from production to after-sales services and intra firm transactions like Accounting, management, etc.
Benefits of E-Business:
There are various benefits related to the e-business which are as follows:
1. Easy: E-business makes everything easy. Shopping can be done easily without going anywhere, with the help of the internet and online websites.
2. Fast: Information exchanged in a few seconds with the help of the internet. Buying and selling can be done with a click of a mouse.
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3. Paperless Society: With the help of online mode, many business transactions started electronically instead of paperwork. Nowadays people use online mode for doing their work as payment of income tax or apply for any job, apply for a passport online, etc.
4. Global Reach: People from each corner of the world doing their online transactions even shopping from online stores and some are doing trade. E-business spread its effect everywhere.
5. Formation: E-Business is very easy to form and having very less requirement of capital to start the business. For example, if anybody wants to do the cloth business then traditionally it needs to hire a shop or showroom and display all clothes for customer attraction, but in e-business, there is just a need to make a website and display photos of clothes. And the customer can visit the website with one click on the screen and places an order.
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