EMERGING MODES OF BUSINESS
 

It refers to the computerised system of carrying out business, including industry, commerce and trade.

It refers to the system of trading goods and services, wherein both the buyer and the seller are present at the same place and at the same time when the transaction is made.
 

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Basis of Difference	Traditional Business	e-Business
Ease of formation	Formation is relatively difficult, as it requires a proper physical set up.	Formation is relatively easier.
Internal communication	Follows a hierarchical communication structure (from top to bottom)	Follows a non-hierarchical communication structure (no defined structure)
Start-up cost	Heavy	Relatively low (as physical facilities are not required)
Market access	Restricted to the physical domain	Comparatively wide with no defined domain
Operating cost	High	Low
Contact	Indirect	Direct
Response time to customer requirement	Long	Negligible
Personal touch with customers	High	Less
Global access	Less	Comparatively more
Workforce	Professionally qualified	Skilled or semi-skilled
Transaction risks	Low	High
Government support	Declining	Increasing
Organisational structure	Vertical