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Emerging Modes of Business
5

5.1 E- Business
5.1.1 Meaning
5.1.2 Scope of E-business

5.1.3 Benefits of E-business
5.1.4 Limitations of E-business
5.2 On Line Transaction

5.2.1 Meaning
5.2.2 Procedure of Online Transaction
5.3 Outsourcing

5.3.1 Meaning/ concept
5.3.2 Need of Outsourcing
5.3.3 Advantages of outsourcing

5. 3.4 Disadvantages of Outsourcing
5.3.5 Business Process Outsourcing
5.3.6 Knowledge Process Outsourcing

5.3.7 Legal process outsourcing
Comparative Study/Distinguish Between
Summary

Exercise

5. 1 E- Business

"The new mantra of the day is growth, globalization cycle times, speed and competitiveness,"
E- business in an abbreviation for electronic business. In 1997, IBM started using the term e-business
for the first time. Till that time the word e-commerce was used. E-business means using the internet
to connect people and process. It opens new door to customers around the world. E-business estab-
lishes more closer and responsive relationship with partners, employees and suppliers. It connects,
adapts and integrates IT system, so companies are able to manage their business efficiently. Through
the internet it is possible to invent new and innovative ways to add value to existing products and
services without necessarily, spending a lot of money.
Electronic business refers to the use of the Web, Internet, intranets, extranets or some
combination there of to conduct business. E- Business is not a technical change. It is a fundamental
change in the way of business be done, aided, supported and enabled by technology.
The internet and the web support together provide opportunities in selling, customer relationship,

PB 95