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NIOS Class 12 Business Studies Chapter 23 Modern Modes of Business
Also, you can read the NIOS book online in these sections Solutions by Expert Teachers as per National Institute of Open Schooling (NIOS) Book guidelines. These solutions are part of NIOS All Subject Solutions. Here we have given NIOS Class 12 Business Studies Chapter 23 Modern Modes of Business, NIOS Senior Secondary Course Business Studies for All Chapter, You can practice these here.
Modern Modes of Business
Chapter: 23
Module – 6 Awareness in Business and Employment
INTEXT QUESTIONS 23.1
1. Define the term Internet.
Ans: Internet is a worldwide system of computer network through which the users at any computer can access the information from other computers.
2. State the full form of the following–
(a) WWW.
Ans: WWW: World Wide Web.
(b) B2B.
Ans: B2B: Business to Business.
(c) B2C.
Ans: B2C: Business to Customer.
(d) C2C.
Ans: C2C: Consumer to Consumer.
INTEXT QUESTIONS 23.2
1. India-B Commerce means________________.
Ans: Intra-B Commerce refers to interaction and dealings among various departments and persons within the firm with the help of computer and interconnected telecommunication networks.
2. Identify the merits and limitations of e-business from the following statements–
(a) It lacks personal touch in business transactions.
Ans: Limitations.
(b) It takes less time to give order for desired goods and services.
Ans: Merits.
(c) The customers have access to a large number of suppliers and they enjoy a wider choice.
Ans: Merits.
(d) It helps the business houses to expand the business and earn more profit.
Ans: Merits.
(e) The privacy of personal details and security of financial transactions are a concern for many users.
Ans: Limitations.
INTEXT QUESTIONS 23.3
1. Mention the various ways of making payment in on-line transactions.
Ans: (a) Credit card.
(b) Debit card.
(c) Store’s value card.
(d) Cheque.
2. Arrange the following stages of on-line transactions in proper sequence.
(a) Order.
(b) Delivery.
(c) Payment.
(d) Search.
(e) After sales services.
Ans: (d) Search.
(a) Order.
(c) Payment.
(b) Delivery.
(e) After sales services.
INTEXT QUESTIONS 23.4
1. Mention one benefit of ATM for the customers of the bank.
Ans: Withdrawals and deposits of money.
2. Identify the following in e-banking transactions:
(a) A card that allows the holder to spend money without having any balance in his/her deposit account.
Ans: Credit card.
(b) A machine using which we can withdraw money from our deposit accounts at our convenience.
Ans: ATM.
(c) A system that allows the account holder to avail the banking facility over telephone.
Ans: Telebanking.
(d) A convenient way of accessing the account anytime, anywhere and any number of times.
Ans: Internet banking.
INTEXT QUESTIONS 23.5
1. What is meant by e-Post?
Ans: E-post is a service offered by post office through which printed or hand written messages are transmitted as e-mail on internet.
2. Identify the linkage of the following terms in different e-Commerce applications.
(a) Demat Account.
Ans: E-Trading at stock exchanges.
(b) Unified Message Service.
Ans: Computerisation of mail transmission and Processing.
(c) Getting e-mail facility without direct access to Internet.
Ans: E-Post.
(d) On-line booking of air ticket.
Ans: E-Ticketing.
INTEXT QUESTIONS 23.6
1. Identify the merits and limitations of Outsourcing of Services.
(a) It facilitates inter-organisational knowledge sharing and collaborative learning.
Ans: Merits.
(b) It reduces confidentiality of information.
Ans: Limitations.
(c) It helps in concentrating on the core competency of the organisation.
Ans: Merits.
(d) The management finds it difficult to handle the outside staff.
Ans: Limitations.
(e) It provides expert and specialised service at competitive prices.
Ans: Merits.
2. Tick the right choice:
(i) Name the act of protecting information by transforming into an unreadable format.
(a) VIRUS.
(b) Hacking.
(c) Cryptography.
(d) None of the above.
Ans: (c) Cryptography.
(ii) In online buying the buyer drops the items selected in a __________.
(a) Shopping cart.
(b) Shopping box.
(c) Net card.
(d) None of the above.
Ans: (a) Shopping cart.
(iii) Plastic Card is the popular name for:
(a) Debit/Credit card.
(b) Cheque.
(c) Digital Cash.
(d) None of the above.
Ans: (a) Debit/Credit card.
| TERMINAL EXERCISE |
Very Short Answer Questions:
1. Define the term ‘e-commerce’.
Ans: E-Commerce refers to the process of conducting business with the help of electronic devices using the computer and interconnected telecommunication network. Here, offer for sale and its acceptance are made electronically through Internet. It does not require physical interaction between the parties concerned. It is also known as ‘on-line trading’, ‘on-line shopping’ and ‘shopping.
2. State any two precautions one should take while making online transactions.
Ans: The following steps are usually taken to ensure security in on-line transactions.
(a) Passwords: In on-line shopping, one has to register with the on-line vendor to have an account with him. This provides for a password to avoid login by an unauthorised person.
(b) Authentication: Sender of the message must be identified precisely using the off-line validation, if necessary. This avoids any possibility of fraud or misuse of the password.
3. Mention any two advantages of outsourcing of services.
Ans: (a) It provides an opportunity to the organisation to concentrate on areas in which it has core competency or strength. It keeps the organisation free from repetitive and mundane functions.
(b) It helps better utilisation of its resources as the management can focus its attention on selected activities and attain higher efficiency.
4. What is meant by ‘Internet banking’?
Ans: This is another way a customer can have access to his account and give instructions. It makes the task of the customer easy as he can access his account anywhere, any time and any number of times. The customer simply uses a password number and gets the details of transactions sitting at home.
5. Give the meaning of ‘B2C e-commerce’.
Ans: B2C business-to-consumer e commerce, also called retail ecommerce, is a business model that involves sales between online businesses and consumers. It enables a business firm to be in touch with its customers round the clock . It involves a wide range of marketing activities including promotion, seeking orders, intimating supply and so on.
6. Name the electronic currency that exists in cyberspace.
Ans: Digital Cash it is a form of electronic currency that exists in cyberspace. In favour of the customer the bank issues digital cash for the amount he paid. Bank will supply a special software that will allow the customer to draw digital cash from his account. Digital cash is used for purchases over the web.
| Short Answer Questions |
1. State any four uses of the Internet in our daily life.
Ans: Four uses of the Internet in our daily life are:
(i) Email.
(ii) Sharing of files.
(iii) Video conferencing.
(iv) Social networking.
2. Distinguish between ‘e-Business’ and ‘e-Commerce’.
Ans:
| E – Business | E – Commerce |
| The activities of production, marketing, selling, banking, insurance etc. are all carried out at a faster speed through the use of computers and the Internet. When all these activities are carried on electronically, it is commonly referred to as ‘Electronic Business’ or ‘e-Business’. | Commerce involves buying and selling and supports services like transport, insurance, banking, communication etc. When all these activities are undertaken using information and communication technologies, it is termed as Electronic Commerce or e-Commerce. |
| Helping one to choose from a wide range of products and get the order delivered too. | It does not require physical interaction between the parties concerned. It is also known as ‘on-line trading’, ‘on-line shopping’ and ‘shopping. |
3. Mention any four limitations of ‘e-Commerce’.
Ans: A few limitations of e-Business/e-Commerce are:
(a) It lacks personal touch with customers, which makes it unsuitable for items such as clothes, jewellery, etc.
(b) The web can provide a good picture, a detailed description of the product, but the customer cannot actually see, feel or try on the goods he/she is buying.
(c) The transaction can be finalised quickly, but physical delivery of goods often takes long time and be delayed. This leads to a lot of inconvenience for the customers.
(d) Return of faulty goods bought on-line may often be more problematic and a time consuming exercise.
4. Distinguish between ‘Debit Card’ and ‘Credit Card’.
Ans:
| Debit Card | Credit Card |
| A debit card is an electronic card that can be used conveniently while making payments. This card is issued to the customers of the bank having current or savings account. | Some banks issue credit cards to individuals who may or may not have an account with them. The cards are issued to individuals after verifying their creditworthiness. |
| The holder of this card can use this card at several outlets for purchase of goods and services. This card allows the holder to spend up to the balance available in his/her bank account. It can also be used at ATMs just like ATM cards. | The bank issues a statement of transactions periodically and the individuals have to pay back the amount to the bank by a due date. |
5. Explain the usefulness of ‘e-Post facility for the general public.
Ans: To send and receive any information through e-mail, we need to have a computer with Internet connectivity and the e-mail account of the sender and receiver. However, this technology has not yet reached the rural and other remote areas of our country. To bridge this gap and extend the benefit of the e-mail facility to the people of rural India, the Department of Post has introduced e-Post facility. It enables people to send and receive e-mail at the post offices.
6. State any two requirements for successful implementation of e-business.
Ans: Following resources are required for successful e-business implementation:
(i) A Website: A business must develop a website to effectively communicate with its customers. Detailed information of the enterprise should be provided on the website. Necessary pictures should also be posted on the website.
(ii) Technically Qualified Workforce: E-business can be successful only with a well trained workforce. The workers should be capable of easily handling the new trends in computers. Sales Department staff should be trained to handle sales inquiries, processing orders and ensuring prompt delivery.
7. What is meant by Knowledge Process Outsourcing?
Ans: KPO means outsourcing services that require expertise of a higher order. i.e. high end Knowledge Work is done by an outside organisation. KPO is mainly done to improve the efficiency and quality and to reduce costs of doing business. KPO requires professionals with the right skills, attitude and experience.
| Long Answer Questions |
1. Explain the merits of ‘e-Commerce’.
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