Evaluate the need for outsourcing and discuss its limitations.
The need for outsourcing are as follows :
(a) Focussing of Attention : Business firms are perceiving the usefulness of focusing on just a few areas where they have definite capability or core competency and contracting out the remaining activities to their outsourcing partners. This enables them to focus their attention on some selective activities.
(b) Quest for Excellence : Outsourcing enables the firm to chase the excellence in two ways. Primarily, they excel themselves in the activities in which they are good enough so that they excel by expanding their capabilities. In the quest for excellence, it is important not only to know what you would like to focus on, but also what you would like others to do for you.
(c) Cost Reduction : Global competitiveness required not only the quality, but also reduction in cost. Division of labour and specialization minimize cost and improves quality. This happens due to the economics of large scale accounting outsourcing partners.
(d) Growth through Alliance : To the extent, we can avail of the services of others, our investment necessities are reduced, others have invested in those activities for us which helps in expanding rapidly. Apart from financial returns, outsourcing eases inter organisational knowledge sharing and collaborative learning.
(e) Fillip to economic development : Outsourcing revives the entrepreneurship, employment and exports in the host countries thus, it helps in economic development of the country.
(f) Limitations of Outsourcing Confidentiality : Outsourcing depend on sharing a lot of vital information and knowledge. If the outsourcing partner doesn't receive the confidentiality and passes it on to competitors which can harm to interest of the party that outsources its processes. If outsourcing involves complete process, there is a risk of outsourcing partner starting up a competitive business.
(ii) Sweat shopping : As the firms that outsource seek to minimize their costs they try to get maximum benefit from less cost, man power of host countries. The firm that go in for outsourcing look it is doing stills rather than doing the development of thinking skills.
(iii) Resentment in the home countries : In the course of contracting out, manufacturing, marketing, research and development of IT based services what is ultimately contracted out is employment or the jobs. If the home country is facing the problem of unemployment, may cause resentment back in the home country.
Discuss the limitations of electronic mode of doing business. Are these limitations severe enough to restrict its scope? Give reasons for your answer.
Describe briefly the data storage and transmission risks in e-business.
Why are e-business and outsourcing referred to as the emerging modes of business? Discuss the factors responsible for the growing importance of these trends.
What are the ethical concerns involved in outsourcing?
Discuss the salient aspects of B2C commerce.
Describe briefly any two applications of e-business.
How does outsourcing represent a new mode of business?
Elaborate the steps involved in on-line trading.
State any three differences between e-business and traditional business.
Define services and goods.
1. The structure in which there is separation of ownership and management is called
(a) Sole proprietorship (b) Partnership
(c) Company (d) All business organisations
2. The karta in Joint Hindu family business has
(a) Limited liability (b) Unlimited liability
(c) No liability for debts (d) Joint liability
3. In a cooperative society the principle followed is
(a) One share one vote (b) One man one vote
(c) No vote (d) Multiple votes
4. The board of directors of a joint stock company is elected by
(a) General public (b) Government bodies
(c) Shareholders (d) Employees
5. Profits do not have to be shared. This statement refers to
(a) Partnership (b) Joint Hindu family business
(c) Sole proprietorship (d) Company
6. The capital of a company is divided into number of parts each one of which are called
(a) Dividend (b) Profit
(c) Interest (d) Share
7. The Head of the joint Hindu family business is called
(a) Proprietor (b) Director
(c) Karta (d) Manager
8. Provision of residential accommodation to the members at reasonable rates is the objective of
(a) Producer’s cooperative (b) Consumer’s cooperative
(c) Housing cooperative (d) Credit cooperative
9. A partner whose association with the firm is unknown to the general public is called
(a) Active partner (b) Sleeping partner
(c) Nominal partner (d) Secret partner
1. A government company is any company in which the paid up capital held by the government is not less than
(a) 49 per cent (b) 51 per cent
(c) 50 per cent (d) 25 per cent
2. Centralised control in MNC’s implies control exercised by
(a) Branches (b) Subsidiaries
(c) Headquarters (d) Parliament
3. PSE’s are organisations owned by
(a) Joint Hindu family (b) Government
(c) Foreign Companies (d) Private entrepreneurs
4. Reconstruction of sick public sector units is taken up by
(a) MOFA (b) MoU
(c) BIFR (d) NRF
5. Disinvestments of PSE’s implies
(a) Sale of equity shares to (b) Closing down private sector/public operations
(c) Investing in new areas (d) Buying shares PSE’s
6. The equity-based joint venture does not include
(a) Cooperative development (b) Company
(c) Partnership (d) Limited liability partnership
List any five major commercial cities of ancient India?
What is e-banking. What are the advantages of e-banking?
What is Hundi?
Write a note on various telecom services available for enhancing business.
List the major exports and imports in ancient India.
Explain briefly the principles of insurance with suitable examples.
What were the different types of Hundi in use by traders in ancient times?
What were the different types of Hundi in use by traders in ancient times?
Define business. Describe its important characteristics.
How would you classify business activities?
Define Industry. Explain various types of industries giving examples.
List the major exports and imports in ancient India.
Define services and goods.
Why is business considered as economic activity?
Explain the functions of commercial banks with an example of each.
Explain briefly the principles of insurance with suitable examples.
What are services? Explain their distinct characteristics.