Emerging modes of business | Chapter 5 | Business Studies | Class 11 | One Shot

Summary

In this video, the host continues the '100 Days Commerce Pro Series' by covering Chapter 5 of business studies, focusing on emerging modes of business. The session explains E-business and E-commerce, highlighting their scope and differences. Key concepts like B2B, B2C, Intra-B, and C2C transactions are discussed, as well as the advantages of E-business, including speed, convenience, and global reach. The host also contrasts traditional business with E-business and encourages viewers to engage in the comments section. The next session will focus on economics.

Takeaways

• 📚 The video is part of a '100 Days Commerce Pro Series' focusing on business studies and economics for CBSE students.
• 🎯 Chapter 5, 'Emerging Modes of Business', will be covered in one part due to its short syllabus, focusing on new business methods enabled by technology.
• 🌐 'Emerging Modes of Business' refers to conducting business activities electronically, such as E-business and E-commerce.
• 💻 E-business is broader than E-commerce, encompassing all business functions done via the internet, like marketing, sales, and after-sales service.
• 🛒 E-commerce focuses on transactions between a business and its customers or suppliers over the internet, specifically buying and selling goods.
• 🔄 B2B (Business to Business), B2C (Business to Customer), Intra B (within the same company), and C2C (Customer to Customer) are important models in E-business.
• 🚀 E-business offers benefits such as high speed, convenience (24/7 availability), lower startup costs, global reach, and promoting a paperless society.
• 💼 The differences between traditional and E-business include ease of formation, lower costs, no need for physical locations, and direct customer interaction.
• 🌍 E-business enables flexible manufacturing and distribution within a company, allowing branches to share resources efficiently (Intra B).
• 📊 The upcoming focus will be on completing economics chapters, followed by accountancy and statistics, continuing the structured learning plan.

Q & A

What is the main topic discussed in the video?

The main topic discussed is 'Emerging Modes of Business' in the context of business studies, focusing on how technology has transformed business practices, especially through e-business and e-commerce.

What is the difference between e-business and e-commerce?

E-commerce refers to the buying and selling of goods and services over the internet, while e-business encompasses a broader range of business activities conducted electronically, including production, inventory management, marketing, finance, and customer service.

What are the four main types of business interactions mentioned in the video?

The four types of business interactions are B2B (Business to Business), B2C (Business to Customer), Intra B (Business within the same company), and C2C (Customer to Customer).

Can you explain what B2B means?

B2B stands for Business to Business, where transactions occur between two businesses. For example, a manufacturer selling products to a wholesaler over the internet is a B2B transaction.

What is the meaning of B2C?

B2C stands for Business to Customer, where a business sells goods or services directly to a consumer. An example is when a customer orders products online from a retailer.

What is Intra B and when is it used?

Intra B refers to business transactions that occur within the same company, such as when one branch of a company orders products from another branch to meet supply demands. It allows for flexible manufacturing and inventory management within large companies.

What does C2C stand for and how does it work?

C2C stands for Customer to Customer, where individuals sell products directly to other individuals, often using online platforms. A common example is a person selling second-hand goods on a website like eBay.

What are some of the benefits of e-business mentioned in the video?

The benefits of e-business include high speed, convenience (24/7 availability), ease of formation, lower investment, global reach, and contributing to a paperless society through digital transactions.

What is one major difference between traditional business and e-business?

One major difference is that traditional businesses require a physical location and have higher setup costs, whereas e-business can be set up online with lower investment and no need for a physical space.

How does e-business contribute to a paperless society?

E-business contributes to a paperless society by conducting transactions digitally, such as issuing digital receipts and invoices, thereby reducing the need for physical paper and promoting environmental sustainability.

Outlines

00:00

🎉 Business Studies Week: Chapter 5 Overview

The speaker welcomes the audience back to their business studies series, celebrating the 100-day commerce pro series. They mention completing Chapter 4 and starting Chapter 5, which is expected to be brief due to the limited syllabus provided by the CBSE board. The focus will be on 'Emerging Modes of Business,' with emphasis on e-business and e-commerce. The speaker encourages participation by liking the video, commenting for attendance, and explains that today's lesson will cover key topics like online businesses and technological transformations in business operations.

05:02

💻 E-Business vs E-Commerce: Key Concepts

The speaker introduces the topic of e-business and its components, explaining that e-business refers to conducting business over the internet. E-commerce, a subset of e-business, is specifically about buying and selling goods online. However, e-business encompasses a broader range of activities like marketing, after-sales services, product development, and financial management conducted electronically. The speaker highlights that while e-commerce focuses on transactions, e-business includes all business functions that use the internet, making e-business a much wider term than e-commerce.

10:02

🌐 Scope of E-Business and Different Types of Transactions

The speaker discusses the scope of e-business, emphasizing its vast reach, covering various business functions like production, finance, and sales—all happening over the internet. They introduce the four major types of e-commerce transactions: B2B (business-to-business), B2C (business-to-customer), Intra-B (internal business transactions), and C2C (customer-to-customer). Detailed examples explain how each type works, from businesses selling to other businesses or directly to consumers, to internal exchanges within large companies, and customers selling to other customers.

⚡ Benefits of E-Business: Speed, Convenience, and Global Reach

The speaker lists the benefits of e-business, emphasizing speed and convenience. Online transactions allow faster communication and quick delivery of goods. E-business operates 24/7, making it more accessible compared to traditional markets that have set closing times. It is also easier and cheaper to start an online business with minimal investment, allowing global reach and enabling businesses to cater to customers from across the world. Additionally, e-business contributes to a paperless society, which benefits the environment.

📊 Traditional Business vs E-Business: Key Differences

The speaker outlines the main differences between traditional business and e-business, highlighting points like ease of formation, cost of setup, and operational expenses. E-business is easier to start, requiring less physical space and investment. Traditional businesses need a physical location and incur higher operational costs due to storage, production, and intermediary involvement. E-business, on the other hand, allows direct contact between producers and consumers, reducing the need for intermediaries and increasing efficiency.

📚 Wrapping Up Business Studies Chapter 5: Moving Forward

The speaker wraps up the session on 'Emerging Modes of Business,' expressing satisfaction with completing the chapter quickly. They encourage students to focus on the core syllabus provided by CBSE without delving into unnecessary details. The speaker announces that the next sessions will cover economics and statistics, and expresses excitement for future topics. They conclude by thanking the audience for joining and encouraging them to keep learning and growing.

Keywords

💡E-business

E-business refers to conducting industry, trade, and business using the internet or electronic networks. In the video, the concept is introduced as encompassing not just the buying and selling of goods but also other business activities like marketing, after-sales services, product development, and more. The video highlights that E-business is a broader term than E-commerce, as it includes all electronically conducted business functions.

💡E-commerce

E-commerce specifically refers to the buying and selling of goods and services over the internet. In the video, E-commerce is presented as a subset of E-business, focusing only on transactions between firms and customers or suppliers. The script emphasizes that while E-commerce is limited to online transactions, E-business includes other functions like inventory management and accounting.

💡B2B (Business to Business)

B2B refers to transactions where both the buyer and the seller are businesses. The video explains that in B2B, companies interact with each other over the internet to create value or fulfill consumer demand. An example given is a manufacturer selling goods to a wholesaler online, with both parties involved being business entities.

💡B2C (Business to Customer)

B2C stands for Business to Customer, referring to transactions where businesses sell goods or services directly to individual consumers. The video provides the example of consumers ordering products online from companies, where the business firm is on one end and the customer is on the other. B2C includes marketing activities, promotions, and delivery of goods.

💡Intra B (Intra-Business)

Intra B involves transactions occurring within a single business. The video uses the example of a company like Exide, where different divisions (such as North and South) exchange goods internally. This allows for flexible manufacturing and efficient inventory management within a large organization.

💡C2C (Customer to Customer)

C2C refers to customer-to-customer transactions where both the seller and buyer are individual consumers. The video illustrates this with an example of someone selling old items like a cell phone or refrigerator on a platform designed for consumers to buy and sell goods from each other. This type of commerce is beneficial for dealing in used goods where no formal market exists.

💡Scope of E-business

The scope of E-business refers to how extensively E-business practices have spread across various functions like production, finance, marketing, and sales. The video explains that the reach of E-business is vast, as more business operations are conducted online, making it essential for companies to adapt to these emerging modes of business.

💡Benefits of E-business

The video outlines several benefits of E-business, including speed, convenience, ease of formation, lower investment costs, global reach, and the movement towards a paperless society. These benefits make online business appealing, as it allows companies to operate more efficiently, reach a wider audience, and reduce their environmental impact.

💡Traditional Business

Traditional business refers to conventional methods of conducting business, which require physical space, higher setup costs, and involve intermediaries. The video contrasts traditional business with E-business, explaining that traditional methods require more formalities and operating expenses compared to the ease and lower costs associated with E-business.

💡Emerging Modes of Business

Emerging modes of business refer to new and innovative ways of conducting business, particularly those enabled by technology. The video uses the example of online platforms that allow people to order food or clothes from home. The chapter emphasizes that with the advent of technology, businesses are transforming to include new methods like E-business and E-commerce.

Highlights

Introduction to the 100-day commerce series, focusing on business studies and economics.

Completion of Chapter 4 in two parts; Chapter 5 expected to be completed in one session due to shorter syllabus.

Explanation of the chapter 'Emerging Modes of Business' and how technology is transforming business practices.

Definition of E-business as conducting business through computer networks, primarily the internet.

Clarification of the difference between E-business and E-commerce, with E-commerce being a subset of E-business.

Explanation of B2B (Business to Business) transactions where both parties involved are businesses.

Explanation of B2C (Business to Customer) transactions where a business sells directly to a customer.

Explanation of Intra B transactions within a company, typically for large firms, like transferring goods between branches.

Introduction to C2C (Customer to Customer) commerce, where consumers sell goods directly to other consumers.

Benefits of E-business, including speed, convenience, and global reach, allowing businesses to operate 24/7.

E-business facilitates a move toward a paperless society, contributing to environmental sustainability.

Comparison between traditional business and E-business, highlighting differences in ease of setup, cost, and location requirements.

E-business has lower operational costs, as it requires fewer intermediaries compared to traditional business models.

E-business offers direct contact between producers and consumers, eliminating the need for middlemen.

Preview of upcoming economics content and the plan to complete microeconomics in the following sessions.

Transcripts

What's up everyone, welcome back to the channel.

Guys, we are celebrating our business studies and economics week in this 100

days commerce pro series.

Yesterday we completed chapter no.

4 in 2 parts.

Today we will complete chapter no.

5 and I feel that it will not even have 2 parts because our CBSE board has

given very less syllabus in this.

So we will finish it in one shot.

It will be done very quickly and easily.

So today there will be no need for 2 parts.

This chapter of your business studies will also be done in one part.

Tomorrow and day after tomorrow we will complete economics.

And then from Monday onwards, our accountancy, business studies, accountancy,

economics, the same alternative will continue.

So let's start quickly.

Go and put attendance in the comment section.

Like the video and let's begin quickly.

Intro So guys, let's

start with the name of the chapter.

Look, I am always a believer that everything is hidden in the name.

Now what is written here?

Emerging modes of business.

Emerging modes of doing business.

Emerging means new modes.

Like you are studying online.

Online people are doing business in the same way.

Selling, purchasing.

Today we can sit at home and order food.

You can sit at home and order clothes.

So business is changing.

Transformation is coming along with technology.

So what do we call such modes?

Emerging modes of business.

So see what is it?

E-business comes first.

E means electronic and in simple language through the internet.

So E-business means conducting industry, trade and business using the computer

network, that is the internet.

So whenever you conduct any business on the internet, we call it E-business.

What all things are covered in E-business and E-commerce?

So we have this thing to do a little carefully.

So here kids see when it comes to commerce, so you have read this topic before

too.

Industry, trade and commerce.

So what do we say in commerce that only buying and selling of goods and

services is happening.

So what do we say?

E-commerce covers a firm's interaction with its customer and supplier.

That is, buying and selling is happening only on the internet.

So what is it called?

E-commerce.

What is E-business?

There are many things in business.

Marketing is happening.

Sales is happening.

After-sales services are happening.

Returns are being refunded.

Multiple things have to be done to satisfy the customer.

Research and development is happening.

Product development is happening.

Product sale is happening.

Then reviews are happening.

Website is being made.

Multiple.

So we consider all such things in E-business.

So E-commerce is a small term.

E-business is a big term.

So what will come here?

E-business includes not only E-commerce, but also other electronically

conducted business functions like production, inventory management, product

development, accounting finance is happening through the internet related to

that business.

So all these things come in E-business.

So E-business is much more than buying and selling.

So keep in mind that E-business is a big term, a wide term and E-commerce is

comparatively a small term.

Okay?

Scope of E-business.

Now if we talk about the scope, it means how far it has spread.

Now we have read that E-business is a comparatively big term.

So brother, it must have spread somewhere.

It must have spread somewhere.

So how far has it spread?

So when we talk about scope, we say that it is quite vast.

All kinds of business functions, whether it is production, finance, marketing,

sales, whatever it is, all that is happening through the internet nowadays.

So in this, multiple options, multiple kinds of businesses, multiple

involvements we get to see.

So you have to take a screenshot of the scope.

Mainly the things we have to write in the scope are coming from here.

First of all, B2B is coming.

So what is there in it?

B2B, B2C, C2C and Intra B.

We have to read these 4 terms in it.

So first of all, if I talk about B2B, then B2B means business to business.

What does B2B mean?

From one business to another business.

So here, like I tell you that there is a manufacturer, someone is buying

wholesaler goods from him over the internet.

So both the parties have become buyer as well as seller businesses.

Both are doing their own business.

So what can we say in B2B that both the parties involved are businesses.

So what is here?

Here both the parties are involved in e-commerce transactions are business

firms.

That's why its name is B2B, that is business to business.

Creation of utilities or delivering value requires a business to interact with

number of other businesses.

Bro, it's simple, if I have to sell something, then either I make it myself, if

I can't make it myself, then someone is making it, I will buy it from him.

So to fulfill the demand of people, a business has to interact with another

business.

So where two businesses over the internet are interacting with each other and

making some goods, selling, means creating value, we call it B2B.

Next is B2C, very simple.

What is our B2C?

Business to customer.

All the things you see where there is a customer on one side who is a direct

consumer and there is a business on one side who is selling goods, so what do

we call it?

B2C.

B2C, business to customer, have business firms at one end and its customer on

the other end.

This is basic, whatever goods you are ordering online, where on the other side

of the internet, you have a direct seller, a businessman, on one side you are a

consumer, so whatever online transactions are happening like this, all come in

B2C.

What is B2C?

B2C therefore entails a wide gamut of marketing activities such as identifying

activities, promotions, even delivery of products.

So all this comes in B2C.

After this, children come to us, Intra B.

What does Intra B mean?

Intra B B2C normally runs in very big companies where business is happening

inside a company only.

Like for example, I tell you that there is a battery company which makes

batteries, anyone can take it, take Luminous, take Amaron, take Exide, there

are big batteries.

Now what is happening there?

They have branches that this is North Division, this is West Division, this is

East Division, this is South Division.

Now what is happening?

Suppose there is a shortage in North, South has extra goods, so North has

ordered goods from South.

So tell me, both the sides, within the same company, within Exide, within

Amaron, within Luminous, whatever, business is happening in their branches

inside a company.

This is called Intra B.

So what happens in Intra B?

Parties involved in transactions are from a given business only.

That's why we call it Intra B.

It is largely due to the use of Intra B Commerce that today it has become

possible for the firms to go in for flexible manufacturing.

You can make it according to you.

If there is a shortage of goods in a branch, then order from another branch.

So flexible manufacturing can be done.

This is the benefit of Intra B.

So B to B is done, B to C is done, Intra B is done.

What is the fourth one?

C to C.

Sir, what is C to C now?

C to C is customer to customer.

What is C to C?

Customer to customer.

There are only customers on both sides.

Like I am a consumer.

My stuff had become old.

After cleaning Diwali, some old stuff came out.

Some cell phone came out.

There is a refrigerator.

I went and listed it on a website where old stuff can be sold.

So a customer became a seller.

There is also a customer to buy from there.

So there are consumers on both sides.

This is called C to C.

Here the business originates from the consumer and the ultimate destination is

also consumer.

That's why its name is C to C.

This type of commerce is the best suited for dealing in goods for those in

which there is no established market mechanism.

Now tell me in the comment section what are the websites for C to C that you

see in which a customer is only selling and a customer is only buying.

Tell me 3 websites in the comments.

If not 3 then tell me 2 which you find on the internet where a customer is only

selling and a customer is only buying.

Okay?

Let's go.

Now let's come to the benefits of E-Business.

What are the benefits of E-Business?

Or what are the benefits of E-Business since it has come online?

The first one written is speed.

Is it high speed?

You can order quickly.

You will get the goods.

Yes, it may take some time.

But nowadays that problem is also being solved.

Quick deliveries are happening.

Order is being delivered within 24 hours.

But is it high speed or not?

It is high speed.

Much of the buying and selling involves exchange of information that the

internet allows at the click of a mouse.

It happens quickly.

Is it convenient for you?

Why is it convenient?

24x7 Bazaar will close at 8-9 at night but online is open 24x7.

So it is very convenient for you.

It is easy.

Ease of formation and lower investment required.

It is easy to form an online business.

Nowadays people make a business on Instagram and such pages.

So it is easy to form.

Along with that, it starts with very less investment.

Take a shop, fill goods.

A lot of investment is required.

In this, in very low investment goods and business is easily formed.

Global reach.

A local business happens in its own area.

You can reach this globally.

You can also find customers where you could never reach offline.

So there is global reach.

You have a big market.

You have a scope to earn more margin.

Along with that, movement towards a paperless society.

Nowadays everything happens online.

Digital bills are sent.

Digital transactions happen.

So we are saving paper.

It is also good for the environment.

We are saving a lot of paper.

So we are moving towards a paperless society.

Okay.

These are all benefits.

Take a screenshot, kid.

Next is, what is the difference between traditional business and e-business?

So see kids, you can remember any 4 to 5 points in it.

You can remember a maximum of 6 points.

Because if it comes in 6, then it is enough to write 6.

First of all, which is easy to make?

E-business is easy.

This is a little difficult because it has formality, space, a lot of things are

required.

It has a physical appearance.

It does not have any physical appearance.

Locational requirement, it needs a good location.

There is no need for any location in it.

Setting up cost, there is a lot of expense in this.

There is less expense in setting up.

Operating cost, there is more expense in running the business.

Because investment is required, for procurement, storage, production,

marketing, money is required for everything.

Comparatively less is required in this because everything is online.

How is the contact after that?

It is indirect through intermediaries because the supplier here, there are a

lot of people in the middle.

Who made it, I don't know who it is.

There is a wholesaler in the middle, there is a retailer, there are agents.

So the direct contact of the maker and the user is less.

Whatever is being made in it, is being sold directly online.

So you can contact.

It is right.

After that, there are more differences.

There are a lot of differences.

How is the response time?

How is the internal communication?

How is the organization?

So take a screenshot of this.

You can remember any 6 points maximum and your topic will be ready.

Any 6, which you can easily remember, you can do that.

Inside this 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15 points.

I have shown you here.

But you remember the 6 in the beginning.

Simple, easy to learn and it will be ready for you very easily.

Done kids.

So this was with us.

A chapter whose name is Emerging Modes of Business.

Sir, it was so good.

Yes, you check the syllabus.

I make all the videos on syllabus.

So this much only CBSC has told us to read.

We will read this much only.

We will not waste much time.

We will not waste by reading extra things.

So now in the next class.

Tomorrow, we will discuss on economics.

Business studies, 5 chapters are done.

One and a half chapters are left.

The work of half a year ends.

Now finish a little economics.

Let's finish micro this week.

Then we have to start statistics.

And we will study very well.

We will keep completing like this.

Thank you so much everyone for joining in.

I'm gonna see you all super soon.

Till then see ya.

Take care.

Bye bye.

Keep growing and keep growing.