Question 24 of 37
Q.Justify the following statement.
It is easy to set up e-business as compared to traditional business.
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2024Subjective· 4mImportance★★★★★
65% · 24/37 Questions
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Start your 14-day free trial to unlock the full solution →The statement is correct. Compared to a traditional business, e-business needs less capital and physical infrastructure, has fewer formalities, reaches a wide market instantly and can be launched quickly — so it is easier to set up.
E-business (electronic business) means carrying out business activities — buying, selling, servicing customers and dealing with suppliers — through the internet and computer networks. A traditional business operates through physical shops, offices and face-to-face dealings.
Justification — why e-business is easier to set up:
- Low capital and infrastructure: An e-business can start with a website, a computer and an internet connection. It does not need large premises, showrooms, godowns or heavy furniture, which a traditional business must arrange.
- Fewer formalities: Setting up a physical business often involves acquiring land or shops, many licences and heavy documentation. An online venture generally requires simpler registration and can begin operating quickly.
- Ease of reaching the market: An e-business reaches customers across cities and countries instantly through its website, without opening branches everywhere. A traditional business must open outlets in each location.
- Quick to launch: Once the website and payment gateway are ready, an e-business can go live almost immediately, whereas building and stocking a physical shop takes considerable time. …
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