Modes of business

• E - business: conducting of industry, trade and commerce using computer network.
• What are the various types of scopes of business?

  1. B2B
  2. B2C
  3. C2C
  4. intra B
• What is B2B commerce?

  • business-to-business commerce refers to the buying and selling of goods and services between businesses.
  • the term e - commerce originally meant facilitating B2B transactions using EDI (electronic data interchange) technology to send and receive purchase orders and invoices.
• What is B2C commerce?

  • business-to-consumer refers to the buying and selling of goods and services between businesses and individual consumers.
  • involves a wide spectrum of marketing activities such as promotion, delivery etc.
• What is intra - B commerce?

  • intra-B commerce refers to electronic commerce conducted within a single business organisation.
  • for example, if the marketing team wants to change its product based on its recent research, they can do so by contacting the production team through intra - B transactions and the production team can take action.
  • VPN (virtual private network) helps employees to perform transactions wherever they are.
• Intra - B transactions may involve?

  1. interactions between 2 departments of a company
  2. placing orders and giving instructions to suppliers
  3. communication of important information across the entire organisation
  4. reporting to employees by their managers
  5. recruitment, training and selection of employees
• What is C2C commerce?

  • consumer-to-consumer is a business model often defined as one consumer selling goods or services to another consumer.
  • best suited for selling no longer established goods such as cars, books, clothes either on cash or barter basis.
  • eg: eBay, PayPal etc.
• State the benefits of e - business?

  1. ease of formation and lower investment requirements - only need a computer and internet
  2. convenience - 24 hours x 7 days a week x 365 days a year
  3. speed - can order anything at the click of a mouse
  4. global access - products are available from various parts of the world
  5. move towards a paperless society - reduced paperwork
• Explain cycle time?

  refers to the time taken to complete a cycle from the origin of demand to its fulfilment is substantially/largely reduced due to business processes being sequential to becoming parallel/simultaneous.