Emerging Modes of Business Test - 20

C2C (Consumer-to-Consumer) - c. Selling antique items

Selling antique items is a common example of C2C commerce, where individuals sell goods to other individuals.

B2C (Business-to-Consumer) - a. After-sale service 

After-sale service is an essential aspect of B2C transactions, as businesses provide support and assistance to consumers after a purchase.

B2B (Business-to-Business) - b. Collaborations 

Collaborations between businesses are common in B2B transactions, as companies often work together or form partnerships to achieve shared objectives.

Cryptography is used to handle data storage risk by encrypting sensitive data to protect it from unauthorized access or manipulation. Encryption techniques ensure that even if data is compromised or accessed by unauthorized parties, it remains unreadable and unusable without the appropriate decryption keys.

Outsourcing can lead to cost reduction for businesses by leveraging lower labor costs in other regions, accessing specialized skills and expertise, reducing overhead expenses, and improving efficiency in operations. However, it's important to note that outsourcing should be done responsibly and ethically, avoiding practices like sweat shopping and ensuring fair treatment of workers.

When individuals work from home using the internet, especially for accessing sensitive company resources or communicating with the company's network, they often use VPNs to ensure that their connection is encrypted and secure. VPNs create a private network connection over a public network (such as the internet), allowing users to securely access resources on the company's network as if they were directly connected to it. It play a crucial role in enabling remote work by providing a secure means of accessing company resources and ensuring data privacy and confidentiality. 

All of the given options are applications of e-business, as they involve electronic transactions and processes within business operations. e-procurement involves electronic purchasing processes. e-bidding involves electronic bidding processes typically seen in online auctions or tender processes. e-delivery involves electronic delivery of goods or services.

Default on payment refers to a situation where a customer claims to have made payment for goods or services, but the seller does not receive the payment. This scenario often occurs in business transactions where payment is expected upon delivery or within a specified time frame. There could be various reasons for default on payment, such as technical issues with payment processing systems, incorrect payment details provided by the customer, insufficient funds in the customer's account, or fraudulent claims of payment

Global outsourcing aims to benefit from differences in the prices of factors of production across countries. Factors of production include resources such as labor, capital, land, and technology, which are used to produce goods and services. By outsourcing certain business functions or processes to countries where these factors are available at lower prices, companies can reduce production costs, increase efficiency, and gain competitive advantages. 

Strong encryption is essential for safeguarding e-business transactions. It ensures that data transmitted over networks is encoded in a way that unauthorized parties cannot decipher, thereby protecting sensitive information from interception or theft.

Failing to comply with data protection regulations in e-business can result in legal penalties. Regulatory authorities may impose fines, sanctions, or other enforcement actions against businesses that violate privacy laws or fail to adequately protect customer data, leading to financial liabilities and reputational damage.

Outsourcing refers to the practice of contracting out certain activities or functions of an organization to a third-party provider. These activities were previously performed internally by the organization itself. By outsourcing, a company can delegate specific tasks or processes to external specialists or service providers, often located domestically or internationally, who can perform them more efficiently or at a lower cost.