Emerging Modes of Business Test - 19

A business where the transactions take place between customers is known as a C2C (customer-to-customer) business. In OLX, the seller is also a customer/consumer, and the buyer is also a customer. C2C provides a secured market system for the sale of used goods or services.

Transactional Risks:- The common transactional risks of online are:- 

1. Default on order taking/giving:- Seller may deny that customer ever placed the order.
2. Default on delivery:- Sometimes goods may be delivered at wrong address or goods other than orders may also be delivered.
3. Default on payment:- Sometimes the seller does not get the payment for the goods supplied whereas the customer claims that the payment was made. 

To overcome these problems the seller must confirm that customer has entered the correct information from the cookies. Cookies are just like caller ID in telephone which provides information like customer's name, address, previous purchase record etc. Customers can also protect himself by shopping from well established websites only. Some advertisers also assure customer's regarding seller's identity, sale record, locations etc. Sites such as e-Bay even provide the rating of seller.

The transactions taking place between a business unit and its customers are known as B2C transactions. B2C enables the business to remain open to its customers on a round-the-clock basis. B2C transactions may involve:- 

1. Selling and Distribution
2. After-Sales Service 
3. Promotion and other marketing activities 
4. Lodging of complaints by customers

Vital information can be stolen or modified to pursue some selfish motive or just for fun. The common data storage and transmission risks are:

1. VIRUS (Vital Information Under Seize)
2. Hacking 

Intra B transactions are those transactions that occur between the parties or persons who are part of a single business. It is a transaction within the firm that is why it is called an intra-firm transaction.

The transactions taking place between a business unit and its customers are known as B2C transactions. B2C also gives scope for C2B transactions, that is, the customers can also make use of call centers set up by enterprises to make toll-free calls.

Electronic business, or e-business, is the application and use of information and communication technology (ICT) to perform and accomplish business activities. It refers to the administration of conducting business over the internet. Therefore, technically and professionally qualified personnel is required for doing e-business.

The cybercrime branch of police specializes in dealing with crimes related to e-business. The government has set up a special cell to look into the crimes committed by the hackers and take necessary action against them.

Transaction Risks can arise due to:-

1. Default on order taking/giving:- Seller may deny that customer ever placed the order.
2. Default on delivery:- Sometimes, goods may be delivered to the wrong address.
3. Default on payment:- Sometimes, the seller does not get the payment for the goods supplied, however, the customer claims that the payment was made.