- State the meaning of e-business
- Explain the process of online buying and selling as a part of e-business
- Distinguish e-business from traditional business
- State benefits of switching over to electronic mode
- Explain requirements for a firm's initiation into e-business
- Identify major security concerns of electronic mode of doing business
- Discuss the need for business process outsourcing
- Appreciate the scope of business process outsourcing
Emerging Modes of Business
CBSE Learning Objectives – Key Concepts & Skills You Must Know
CBSE Revision Notes & Quick Summary for Last-Minute Study
Chapter 5: Emerging Modes of Business
Learning Objectives
- State the meaning of e-business.
- Explain the process of online buying and selling as a part of e-business.
- Distinguish e-business from traditional business.
- State benefits of switching over to electronic mode.
- Explain requirements for a firm's initiation into e-business.
- Identify major security concerns of electronic mode of doing business.
- Discuss the need for business process outsourcing.
- Appreciate the scope of business process outsourcing.
Introduction
The way business is done has undergone fundamental changes, particularly through:
- Digitisation - Conversion of content into electronic format.
- Outsourcing - Contracting out business processes.
- Internationalisation and Globalisation - Expanding business reach.
E-Business vs Traditional Business
Comparison Table
| Basis of Distinction | Traditional Business | e-Business |
|---|---|---|
| Ease of Formation | Difficult | Simple |
| Physical Presence | Required | Not Required |
| Locational Requirements | Proximity to source | None |
| Cost of Setting Up | High | Low |
| Operating Cost | High | Low |
| Nature of Contact | Indirect | Direct |
| Internal Communication | Hierarchical | Non-hierarchical |
| Response Time | Long | Instantaneous |
| Organizational Structure | Vertical | Horizontal/Flat |
| Business Processes | Sequential | Simultaneous |
| Interpersonal Touch | Much More | Less |
Applications of E-Business
- e-Procurement: Internet-based sales transactions between businesses.
- e-Bidding/e-Auction: Online bidding for goods and services.
- e-Communication/e-Promotion: Online marketing and communication strategies.
- e-Delivery: Electronic delivery of digital content and services.
- e-Trading: Online buying and selling of financial instruments.
Security and Safety of e-Transactions
Types of Risks
- Transaction Risks: Vulnerability in online transactions.
- Data Storage and Transmission Risks: Risks associated with data handling.
- Threat to Intellectual Property and Privacy Risks: Concerns over data protection.
Conclusion
E-business and outsourcing are reshaping business operations, driven by the need for efficiency and competitive advantage. These emerging modes of business continue to evolve, presenting both opportunities and challenges.
CBSE Exam Tips, Important Questions & Common Mistakes to Avoid
Common Mistakes and Exam Tips
Common Pitfalls
- Misunderstanding e-business vs. traditional business: Students often confuse the definitions and characteristics of e-business with traditional business models. Ensure you can clearly distinguish between the two.
- Ignoring security concerns: Many overlook the importance of discussing security risks associated with e-business transactions. Be prepared to explain these risks in detail.
- Underestimating the need for business process outsourcing: Students may fail to appreciate the significance of outsourcing in the context of e-business. Understand its benefits and limitations.
- Neglecting the process of online buying and selling: Some students do not adequately describe the steps involved in online transactions, such as registration, order placement, and payment mechanisms.
Exam Tips
- Define key terms: Be sure to define terms like e-business, e-commerce, and digital cash clearly in your answers.
- Use examples: When discussing concepts, use examples from the text to illustrate your points, such as e-procurement and e-bidding.
- Discuss limitations: Always mention the limitations of e-business, such as lack of personal touch and security concerns, when asked about its scope.
- Focus on the learning objectives: Ensure your answers align with the learning objectives outlined in the chapter to cover all necessary points.
CBSE Quiz & Practice Test – MCQs, True/False Questions with Solutions
Multiple Choice Questions
A.
Reduced operational costs
B.
Increased global reach
C.
Higher personal touch with customers
D.
Faster transaction processing
Correct Answer: C
Solution:
E-business lacks the personal touch that is often present in traditional business interactions.
A.
A company develops its own software in-house.
B.
A company hires a local firm to manage its payroll processing.
C.
A company expands its physical store locations.
D.
A company increases its in-house production capacity.
Correct Answer: B
Solution:
Business Process Outsourcing involves contracting out certain business processes, such as payroll processing, to external firms to improve efficiency and focus on core activities.
A.
Limited reach to local markets
B.
Increased paperwork
C.
Global reach/access
D.
Higher operational costs
Correct Answer: C
Solution:
A major benefit of e-business is its global reach/access, allowing sellers to access global markets and buyers to choose products from around the world.
A.
Physical retail space
B.
Website development
C.
Internet connection
D.
Secure payment system
Correct Answer: A
Solution:
Physical retail space is not required for e-business as it operates online. Instead, a website, internet connection, and secure payment system are essential.
A.
Installing firewalls
B.
Using cryptography
C.
Regular software updates
D.
Creating strong passwords
Correct Answer: B
Solution:
Cryptography is used to transform information into an unreadable format called 'cyphertext' to protect it during transmission, ensuring only those with a secret key can decrypt it.
A.
Cookies
B.
Secure Sockets Layer (SSL)
C.
Firewall
D.
Antivirus software
Correct Answer: B
Solution:
Secure Sockets Layer (SSL) is a standard security technology for establishing an encrypted link between a server and a client.
A.
Physical currency used in online transactions
B.
Electronic currency existing only in cyberspace
C.
Cash payments made at delivery
D.
Checks and drafts used for online purchases
Correct Answer: B
Solution:
Digital cash is a form of electronic currency that exists only in cyberspace and is used for online transactions.
A.
Higher personal interaction with customers
B.
Reduced security risks
C.
Ability to operate 24/7 without location constraints
D.
Lower technological requirements
Correct Answer: C
Solution:
E-business allows firms to operate 24/7 and reach customers globally without being constrained by physical location or time, unlike traditional business models.
A.
Secure Sockets Layer (SSL)
B.
Digital Cash
C.
Cookies
D.
Cyphertext
Correct Answer: A
Solution:
Secure Sockets Layer (SSL) is a technology used to encrypt data, such as credit card details, to protect it during online transactions.
A.
A virus that causes mere annoyance with on-screen displays.
B.
A virus that disrupts the functioning of software applications.
C.
A virus that damages target data files.
D.
A virus that leads to the complete destruction of the system.
Correct Answer: D
Solution:
A Level-4 virus in computer security refers to a virus that causes complete destruction of the system, which is the most severe level of impact a virus can have.
A.
A company selling products to consumers
B.
A consumer selling used books to another consumer
C.
A business purchasing raw materials from a supplier
D.
A retailer buying goods from a wholesaler
Correct Answer: B
Solution:
C2C commerce involves transactions between consumers, such as selling used books.
A.
Reduced physical space requirements
B.
Increased personal interaction
C.
Higher operational costs
D.
Limited global reach
Correct Answer: A
Solution:
E-business reduces the need for physical space as it operates online, unlike traditional businesses which require physical locations.
A.
Guaranteed delivery
B.
Default on payment
C.
Increased face-to-face interaction
D.
Reduced data security
Correct Answer: B
Solution:
Default on payment is a common risk where the seller may not receive payment for goods supplied.
A.
Increased production costs
B.
Threat to intellectual property and privacy
C.
Limited product variety
D.
Decreased global reach
Correct Answer: B
Solution:
A major security concern in e-business is the threat to intellectual property and privacy, as information available on the internet can be copied and misused.
A.
Increased physical storage costs
B.
Data theft or modification
C.
Faster data retrieval
D.
Enhanced data accuracy
Correct Answer: B
Solution:
Data stored in e-business systems is exposed to risks such as theft or unauthorized modification.
A.
Increased face-to-face interaction
B.
Security of e-transactions
C.
Limited access to global markets
D.
Higher costs of digital marketing
Correct Answer: B
Solution:
A major concern for businesses in e-commerce is the security of e-transactions and the privacy of customer data.
A.
High transaction costs
B.
Default on delivery
C.
Excessive paperwork
D.
Limited product variety
Correct Answer: B
Solution:
Online transactions are prone to risks such as default on delivery, where goods may not be delivered as intended.
A.
Facilitating online transactions between consumers
B.
Facilitating online sales transactions between businesses
C.
Providing customer support through call centers
D.
Managing digital marketing campaigns
Correct Answer: B
Solution:
E-procurement involves internet-based sales transactions between business firms, including auctions and digital marketplaces.
A.
To enhance the speed of online transactions
B.
To transform information into an unreadable format for security
C.
To increase the bandwidth of internet connections
D.
To improve the visual appeal of websites
Correct Answer: B
Solution:
Cryptography is used to protect information by transforming it into an unreadable format called 'cyphertext', ensuring data security during transmission.
A.
Default on order taking/giving
B.
Increased physical store traffic
C.
Higher production costs
D.
Limited product variety
Correct Answer: A
Solution:
In e-business, a significant risk is 'default on order taking/giving', where either the seller or the buyer denies the transaction, leading to potential financial or reputational losses.
A.
High cost of goods
B.
Default on order taking/giving
C.
Limited product variety
D.
Long delivery times
Correct Answer: B
Solution:
Online transactions are prone to risks such as default on order taking/giving, where either the seller or buyer denies placing the order.
A.
Internet-based sales transactions between business firms
B.
Consumer-to-consumer transactions
C.
A form of digital currency
D.
A type of online advertising
Correct Answer: A
Solution:
E-procurement involves internet-based sales transactions between business firms.
A.
To encrypt data for secure transmission
B.
To verify customer details during registration
C.
To enhance website graphics
D.
To store large files for download
Correct Answer: B
Solution:
Cookies are used to verify customer details during registration, similar to caller ID in telephones, providing relevant information such as the consumer's name and address.
A.
High operational cost
B.
Limited geographical reach
C.
Lack of personal touch
D.
Inability to offer customization
Correct Answer: C
Solution:
E-business is limited by the lack of personal touch, as interactions are not conducted on an interpersonal basis, unlike traditional business models.
A.
To reduce the cycle time of product delivery.
B.
To facilitate online auctions between buyers and sellers.
C.
To encrypt data for secure transmission over the internet.
D.
To automate the process of supply chain management.
Correct Answer: C
Solution:
Secure Sockets Layer (SSL) technology is used to encrypt data, ensuring secure transmission over the internet, thereby protecting sensitive information from being intercepted.
A.
Physical currency used in online transactions
B.
Electronic currency without physical properties
C.
A form of barter system for online exchanges
D.
A method of traditional banking
Correct Answer: B
Solution:
Digital cash is a form of electronic currency that exists only in cyberspace, allowing the use of real currency in an electronic format without physical properties.
A.
By reducing the need for skilled labor
B.
Through economies of scale in mass production
C.
By using digital platforms to tailor products to individual needs
D.
By eliminating the need for physical inventory
Correct Answer: C
Solution:
E-commerce allows businesses to offer customised products at lower costs by using digital platforms to tailor products to individual needs, combining the benefits of mass production with customisation.
A.
To enhance website aesthetics
B.
To verify customer identity and details
C.
To encrypt transaction data
D.
To store digital cash
Correct Answer: B
Solution:
Cookies are used in e-business to verify customer identity and details during online transactions, similar to caller ID in telephones.
A.
High personal interaction
B.
Security concerns over e-transactions
C.
Limited access to global markets
D.
High operational costs
Correct Answer: B
Solution:
E-business suffers from security concerns over e-transactions and privacy issues.
A.
High personal touch with customers
B.
Limited access to global markets
C.
Low personal interaction with customers
D.
Increased paperwork and red tape
Correct Answer: C
Solution:
E-business is high-tech but suffers from low personal touch, as customers do not get attended to on an interpersonal basis.
A.
High personal touch
B.
Global reach
C.
Reduced cycle time
D.
Paperless transactions
Correct Answer: A
Solution:
E-business is characterized by a lack of personal touch, as interactions are conducted online.
A.
A type of digital currency
B.
Encrypted information that is unreadable without a secret key
C.
A virus that replicates itself
D.
A method of online payment
Correct Answer: B
Solution:
Cyphertext refers to encrypted information that is unreadable without a secret key, used to protect data during transmission.
A.
High operational costs
B.
Limited product availability
C.
Low personal touch in customer interactions
D.
Inflexibility in business processes
Correct Answer: C
Solution:
A major limitation of e-business is the low personal touch in customer interactions, which can affect customer satisfaction.
A.
To enhance website design
B.
To protect information by encrypting it
C.
To increase server speed
D.
To improve customer service
Correct Answer: B
Solution:
Cryptography is used to protect information by transforming it into an unreadable format called 'cyphertext', which can only be decrypted by those with a secret key.
A.
To enhance website graphics
B.
To verify consumer's identity and previous purchases
C.
To increase internet speed
D.
To store website passwords
Correct Answer: B
Solution:
Cookies are used to verify consumer's identity and previous purchases, similar to caller ID in telephones, providing relevant information to sellers.
A.
B2B
B.
B2C
C.
C2C
D.
B2G
Correct Answer: C
Solution:
C2C commerce involves transactions between consumers, such as selling used goods.
A.
Vital Information Under Siege
B.
Virtual Information Under Security
C.
Vital Internet User System
D.
Virtual Internet User Security
Correct Answer: A
Solution:
The acronym 'VIRUS' stands for Vital Information Under Siege, indicating a program that replicates itself on other computer systems.
A.
Default on order taking/giving
B.
Physical theft
C.
Natural disasters
D.
Machine breakdown
Correct Answer: A
Solution:
Online transactions are prone to risks such as 'default on order taking/giving', where either the seller or the buyer denies placing the order.
A.
Delayed delivery of goods
B.
Unauthorized access and data theft
C.
Increased operational costs
D.
Higher transaction fees
Correct Answer: B
Solution:
Data stored in systems and during transmission is exposed to risks such as unauthorized access and data theft.
A.
Physical currency used in online transactions
B.
Electronic currency existing only in cyberspace
C.
A form of cryptocurrency
D.
Paper currency converted to digital format
Correct Answer: B
Solution:
Digital cash is a form of electronic currency that exists only in cyberspace and is used for online transactions without any physical form.
A.
In-house production of goods
B.
Contracting out business processes
C.
Increasing physical retail outlets
D.
Reducing the number of employees
Correct Answer: B
Solution:
BPO involves contracting out business processes to third-party service providers.
A.
To reduce operational costs and increase efficiency
B.
To enhance personal customer interactions
C.
To focus on traditional manufacturing methods
D.
To limit the use of digital technologies
Correct Answer: A
Solution:
Outsourcing allows businesses to reduce operational costs and increase efficiency by focusing on core activities and contracting out non-core processes.
A.
Increased demand for personalized customer service
B.
Quest for improvement and efficiency within firms
C.
Lack of traditional business opportunities
D.
Decrease in global internet connectivity
Correct Answer: B
Solution:
The emergence of e-business is primarily driven by the internal quest for improvement and efficiency within firms, as well as external competitive pressures.
A.
Transactions between businesses
B.
Transactions between consumers
C.
Transactions between businesses and consumers
D.
Transactions between government and businesses
Correct Answer: B
Solution:
C2C commerce involves transactions where both the seller and the buyer are consumers.
A.
Transactions are conducted between businesses and consumers.
B.
Goods are sold by manufacturers directly to retailers.
C.
Consumers sell goods and services to other consumers.
D.
Businesses sell goods to wholesalers.
Correct Answer: C
Solution:
C2C commerce involves transactions where consumers sell goods or services directly to other consumers, often facilitated by platforms like eBay.
A.
Mailing a physical book
B.
Delivering groceries in person
C.
Sending an e-book via email
D.
Shipping a car
Correct Answer: C
Solution:
E-delivery includes the electronic delivery of items such as e-books, which can be sent via email.
A.
It speeds up online transactions
B.
It enhances the visual appeal of websites
C.
It protects data by transforming it into an unreadable format
D.
It reduces the cost of digital marketing
Correct Answer: C
Solution:
Cryptography in e-business protects data by transforming it into an unreadable format called 'cyphertext', ensuring secure data transmission.
A.
Firewall
B.
Cryptography
C.
Digital Signature
D.
Biometrics
Correct Answer: B
Solution:
Cryptography is the technology used to protect data during transmission by converting it into an unreadable format called 'cyphertext'. Only those who possess a secret key can decrypt the message back into 'plaintext'.
A.
SSL (Secure Sockets Layer)
B.
HTTP (Hypertext Transfer Protocol)
C.
FTP (File Transfer Protocol)
D.
SMTP (Simple Mail Transfer Protocol)
Correct Answer: A
Solution:
SSL (Secure Sockets Layer) is used to encrypt credit card details to protect them from being misused during online transactions.
A.
Buying and selling of consumer goods
B.
Internet-based sales transactions between business firms
C.
Online customer service
D.
Digital marketing campaigns
Correct Answer: B
Solution:
E-procurement involves internet-based sales transactions between business firms, including reverse auctions and digital marketplaces.
A.
Increased operational costs
B.
Limited access to global markets
C.
Data theft and unauthorized modification
D.
Reduced customer reach
Correct Answer: C
Solution:
Data stored in systems and during transmission is exposed to risks such as theft or unauthorized modification, which can lead to significant losses.
A.
Increased personal touch with customers
B.
Global reach/access
C.
Reduced cycle time
D.
Movement towards a paperless society
Correct Answer: A
Solution:
E-business is high-tech but low in personal touch, which is a limitation rather than a benefit.
A.
A company converting its physical product catalog into an online digital format.
B.
A business outsourcing its customer service operations to another country.
C.
A retailer opening a new physical store in a different city.
D.
A company using traditional mail to send invoices to customers.
Correct Answer: A
Solution:
Digitisation refers to the conversion of text, sound, images, video, and other content into a series of ones and zeroes that can be transmitted electronically. Converting a physical product catalog into an online digital format is a direct application of digitisation.
A.
High personal touch in customer interactions.
B.
Limited access to global markets.
C.
Concerns over security of e-transactions.
D.
Inability to outsource business processes.
Correct Answer: C
Solution:
A significant limitation of e-business is the concern over the security of e-transactions and the privacy of individuals who transact business over the internet.
A.
Vital Information Under Siege
B.
Virtual Information User System
C.
Visual Input and Response Utility System
D.
Variable Information and Resource Usage System
Correct Answer: A
Solution:
VIRUS stands for Vital Information Under Siege, indicating a program that replicates itself on other computer systems.
A.
Vital Information Under Siege
B.
Virtual Information Under Security
C.
Verified Information Under Surveillance
D.
Vulnerable Information Under Scrutiny
Correct Answer: A
Solution:
The acronym 'VIRUS' stands for Vital Information Under Siege, referring to a program that replicates itself on other computer systems, potentially causing harm.
A.
It has increased the cost of production.
B.
It has led to mass production of homogeneous products.
C.
It has enabled mass customization at lower costs.
D.
It has reduced the need for skilled labor.
Correct Answer: C
Solution:
E-commerce allows for flexible manufacturing and mass customization, enabling businesses to offer customized products at lower costs, which was traditionally associated with mass-produced items.
A.
A physical store location
B.
A website on the World Wide Web
C.
A large sales team
D.
A traditional business model
Correct Answer: B
Solution:
A website on the World Wide Web is essential for a firm to conduct e-business.
True or False
Correct Answer: True
Solution:
The excerpt states that 'VIRUS' means Vital Information Under Siege.
Correct Answer: True
Solution:
E-business transforms business processes from being sequential to simultaneous, thereby reducing the cycle time from demand origin to fulfillment.
Correct Answer: False
Solution:
While e-business primarily operates online, it does not completely eliminate the need for physical locations, especially for certain operations like warehousing.
Correct Answer: True
Solution:
Level-4 viruses can lead to complete destruction of computer systems, making them a significant threat.
Correct Answer: False
Solution:
E-business is high-tech but lacks the personal touch that traditional business offers, as interactions are not conducted on an interpersonal basis.
Correct Answer: False
Solution:
E-business has enabled mass customisation at lower costs, previously associated only with mass-produced items.
Correct Answer: True
Solution:
C2C commerce allows consumers to sell goods like used books or clothes, which lack a formal market mechanism.
Correct Answer: True
Solution:
The internet allows sellers to access global markets and buyers to choose products from around the world, enhancing global reach.
Correct Answer: True
Solution:
The shift towards e-business and outsourcing is driven by internal factors like efficiency and improvement, and external factors such as competitive pressures and customer demands.
Correct Answer: True
Solution:
E-commerce enables organizations to offer customized products/services at lower costs, similar to mass-produced items.
Correct Answer: True
Solution:
E-business and outsourcing are reshaping the way business is conducted and are considered emerging modes due to their evolving nature.
Correct Answer: True
Solution:
While e-business offers numerous advantages, it lacks the interpersonal interactions that are possible in traditional business settings.
Correct Answer: True
Solution:
Cryptography involves encrypting information into 'cyphertext' to protect it, which can only be decrypted by someone with the secret key.
Correct Answer: False
Solution:
Digital cash exists only in cyberspace and does not have physical properties, though it represents real currency in electronic format.
Correct Answer: True
Solution:
The internet allows business processes to transform from being sequential to parallel, thereby significantly reducing the cycle time from demand origin to fulfillment.
Correct Answer: True
Solution:
E-commerce allows organizations to offer customized products at costs previously associated with mass-produced items, thanks to advancements in technology.
Correct Answer: False
Solution:
Despite advanced security measures, online transactions are prone to various risks such as transaction risks, data storage and transmission risks, and threats to intellectual property and privacy.
Correct Answer: True
Solution:
Computer viruses can range in severity from minor annoyances to complete destruction of a system, as indicated by Level-4 viruses.
Correct Answer: False
Solution:
E-business operates online and does not require a physical location. A website serves as the firm's location on the World Wide Web.
Correct Answer: True
Solution:
Cryptography involves encrypting information into 'cyphertext', which can only be decrypted by someone with the secret key.
Correct Answer: True
Solution:
E-business allows sellers to access global markets and buyers to choose products from around the world, significantly contributing to globalisation.
Correct Answer: False
Solution:
Online transactions are prone to various risks, including transaction, data storage, and transmission risks.
Correct Answer: True
Solution:
E-business enables firms to offer services and products to customers anytime and anywhere, removing traditional time and location constraints.
Correct Answer: True
Solution:
The excerpt describes C2C commerce as business originating from the consumer and ending with the consumer, exemplified by platforms like eBay.
Correct Answer: False
Solution:
E-business operates through a website, which is an online embodiment of the firm's content, not a physical location.
Correct Answer: True
Solution:
Cryptography involves encrypting information into 'cyphertext' to protect it during transmission, ensuring only those with the secret key can decrypt it.
Correct Answer: False
Solution:
The excerpt clarifies that a website is not a physical location but an online embodiment of a firm's content.
Correct Answer: True
Solution:
Online transactions are prone to risks such as data interception and unauthorized access, making security a crucial concern.
Correct Answer: False
Solution:
E-business and outsourcing are not new forms of business; they are new ways of conducting existing business activities.
Correct Answer: False
Solution:
The excerpt highlights that online transactions are prone to a number of risks, making security and safety issues crucial in e-business.
Correct Answer: False
Solution:
E-business and traditional business differ significantly in their modes of operation, with e-business leveraging digital technologies to conduct transactions online.
Correct Answer: False
Solution:
The internet significantly enhances globalization by providing global market access and freedom of choice for buyers.
Correct Answer: True
Solution:
The effect of computer viruses can range from mere annoyance to complete destruction of the system.
Correct Answer: True
Solution:
E-business involves setting up a firm's location on the world wide web, which requires resources beyond traditional business needs.
Correct Answer: True
Solution:
E-commerce allows for customised products to be offered at costs previously associated with mass-produced items.
Correct Answer: False
Solution:
While e-business reduces the reliance on physical locations, it does not completely eliminate the need for them, as some operations may still require physical presence.
Correct Answer: True
Solution:
C2C commerce, facilitated by the internet, allows consumers to search globally for buyers, enhancing the market reach for selling goods like used books or clothes.
Correct Answer: False
Solution:
E-business transactions are prone to various risks, including transaction risks, data storage and transmission risks, and threats to intellectual property and privacy.
Correct Answer: True
Solution:
E-business allows firms to operate online, which means they do not require a physical location, as the website serves as their location on the World Wide Web.
Correct Answer: False
Solution:
The internet significantly enhances the global reach of businesses by allowing access to global markets and enabling buyers to choose products from around the world.
Correct Answer: False
Solution:
Computer viruses can range from causing minor annoyances to completely destroying computer systems, as they replicate and spread.
Correct Answer: False
Solution:
Online transactions are prone to various risks, including transaction risks, data storage and transmission risks, and threats to intellectual property and privacy.
Correct Answer: False
Solution:
While internet access may be less widespread in rural areas, online shopping is still possible wherever internet connectivity is available.
Correct Answer: True
Solution:
The excerpt mentions that e-business dismantles time and space/locational constraints on its performance.
Correct Answer: False
Solution:
Online shopping can be done at any time, including late hours, as it does not depend on the physical presence of stores.
Correct Answer: False
Solution:
E-business allows transactions to occur anywhere and anytime, removing traditional time and location constraints.
Correct Answer: True
Solution:
The acronym 'VIRUS' is explained as Vital Information Under Siege, indicating its potential to harm computer systems.