Page 4 - Business Studies

122 BUSINESS STUDIES

Benefits of e-Commerce
1. Business Organisation:
(i) Expands the marketplace to national and international markets,
(ii) Gradual decline in the cost of operations,
(iii) Facilitates ‘pull’ supply chain management,
(iv) Competitive advantage over competitors,
(v) Proper time management and support business processes, and
(vi) Small firms co-exist with big firms (win-win).
2. Benefits to Consumers and Society
(i) Flexibility,
(ii) Competitive price/discounts/waive offs,
(iii) More options and choices and Customised products,
(iv) Quick and Timely delivery (digitised products),
(v) Employment potential,
(vi) Facilitate e-Auctions and e-Tenders,
(vii) Interaction with consumers,
(viii) Wider outreach.

activities such as identifying activities, features to be tailor-made to suit their
promotion and sometimes even delivery requirements, but also the convenience
of products (e.g., music or films) that of delivery and payment at their
are carried out online. e-Commerce pleasure. With the onset of e-commerce,
permits conduct of these activities at a all this has become a reality.
much lower cost but high speed. For Further, B2C variant of e-commerce
example, ATM speeds up withdrawal enables a business to be in touch with
of money. its customers on round-the-clock
Customers these days are basis. Companies can conduct online
becoming very choosy and desire surveys to ascertain as to who is
individual attention to be given to them. buying what and what the customer
Not only do they require the product satisfaction level is.

ATM speeds up Withdrawal of Money
e-Commerce greatly facilitates and speeds up the entire B2C process. Withdrawal
of one’s own money from banks was, for example, a tedious process in the past.
One had to go through a series of procedural formalities before he or she was
able to get the payment. After the introduction of ATMs, all that is fast becoming
a history now. The first thing that occurs is that the customer is able to withdraw
his money, and the rest of the back-end processes take place later.

2018-19