e-Business: Meaning, Scope, Transactions, Security & Emerging Technologies: 30 flashcards
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1. What is the definition of e-business?
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e-business means business conducted on the internet or using internet technologies to improve productivity or profitability.
2. How does the Information Technology Act, 2000 define e-business?
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It defines e-business as "the transactions carried out by means of electronic data interchange and other means of electronic communication in place of paper based methods of communication."
3. What is the key difference between e-business and e-commerce?
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e-business is broader than e-commerce. e-commerce is only the buying and selling part, while e-business integrates buying and selling with planning, organising, marketing, production and customer servicing.
4. List the seven steps of an online transaction in order.
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1. Buyer finds seller, 2. Selection of goods, 3. Negotiation of price and delivery terms, 4. Sale, 5. Payment, 6. Delivery, 7. Post-sale activity.
5. What are the common methods of payment in online transactions?
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Payment is commonly made through EFT (Electronic Funds Transfer), credit cards, debit cards or digital wallets.
6. What is B2B in e-business?
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B2B (Business-to-Business) transactions occur between business units, such as tenders, negotiations, and distribution from manufacturer to distributors.
7. What is B2C in e-business?
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B2C (Business-to-Consumer) transactions occur between a business and its customers, including selling, after-sale service, promotions, and call centres.
8. What is C2C in e-business?
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C2C (Consumer-to-Consumer) transactions occur between consumers, such as used goods, antiques, consumer forums, and fraud warnings.
9. What are Intra-business (intra-firm) transactions?
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Intra-business transactions occur within one firm between departments and staff, covering coordination, recruitment, training, and internal reporting.
10. What is B2G / G2B in e-business?
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B2G / G2B transactions occur between business and government, such as online registration, tax filing, e-tendering, and compliance reports.
11. What is G2C in e-business?
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G2C (Government-to-Citizen) transactions deliver government services to citizens online, such as certificates, bill payments, and grievance redressal.
12. What is online distribution?
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Online distribution refers to goods delivered directly on the computer, such as software, air tickets, hotel bookings, CDs and tapes.
13. Can all goods be delivered online? Give an example.
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No. Goods like cars cannot be delivered online; they are ordered online but delivered physically by the dealer.
14. What are the key security concerns in e-business?
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Authentication, authorization, encryption, integrity, non-repudiation and privacy.
15. What is a firewall?
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A firewall filters incoming and outgoing network traffic.
16. What are digital signatures and certificates used for?
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They are electronic credentials used to verify identity.
17. What are SSL/TLS?
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SSL/TLS are protocols providing secure communication over a network.
18. What is a payment gateway?
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A payment gateway authorises credit card and other payments for e-businesses.
19. What is blockchain?
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Blockchain is a decentralised, distributed ledger that records transactions across many computers so that a record cannot be altered retroactively without altering all subsequent blocks and the consensus of the network.
20. What are the key properties of blockchain?
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Transparency, immutability, decentralisation, security and traceability.
21. What are smart contracts?
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Smart contracts are self-executing contracts with terms written into code; they automate agreements without intermediaries.
22. What are some blockchain applications in e-business?
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Supply chain management, digital identity verification, payment systems and loyalty programs.
23. What are crypto assets?
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Crypto assets are digital assets using cryptography, operating on a blockchain — cryptocurrencies, tokens and stablecoins.
24. What are the roles of crypto assets in e-business?
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Payment method, investment, fundraising via ICOs/STOs, smart contracts, tokenisation, loyalty rewards and supply chain finance.
25. What are the main challenges of crypto assets?
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Regulatory uncertainty, volatility, security risks and scalability issues.
26. What are the benefits of e-business?
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Worldwide market, saving of time, rapid response to needs, personalised products, reduced operational costs and ease in launching new products.
27. What resources are required for e-business?
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Adequate hardware, qualified workforce, reliable payment system, well-designed website, effective telecom system, online order processing, logistics, returns/refunds, warranty support and call centre services.
28. How do intra-transaction devices help a firm?
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Intra-transaction devices improve coordination, faster decision making and speedier workflow within a firm.
29. What does intra-business commerce cover?
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Intra-business commerce covers recruitment, selection, training and reporting by employees to managers.
30. What is e-business the result of?
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e-business is the result of convergence of information technology and communication technology.
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