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Question
Distinguish between.
Traditional business and E-business
Solution
Point of distinction |
Traditional business |
E-Business |
|
1. Formation |
A traditional business takes a lengthy and complicated procedure to form |
E-Business is easy to form |
|
2. Setting up cost |
It takes huge capital in order to setup |
It takes a very nominal cost |
|
3. Risk involved |
Less Risk involved as parties have personal interaction. |
High risk involved as there is no direct contact between the parties |
|
4. Scope of business |
Traditional business is limited to a particular area so the scope is limited. |
E-business covers the entire world and so the scope is vast |
|
5. Customer interaction |
Face to face interaction is possible |
In E-business, there is an absence of face to face interaction. |
|
6. Physical inspection |
Goods can be inspected physically before purchase. |
Goods cannot be inspected physically before purchase. |
|
7. Resources focus |
Traditional business resources focus on supply-side |
E-business resources focus on demand-side |
|
8. Delivery of goods |
In traditional business delivery of goods is instant. |
In E-business delivery of goods takes time |
|
9. Usage |
It is ancient and still in usage where the digital network is not reachable. |
It is used to save valuable time and money |
|
10. Accessibility |
It is available during the limited time |
It is available round the clock |
|
11. Scope |
It is difficult to perform more business in this model. |
More business can be done easily without any hassles. |
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