Quiz 1

Quiz 1
Umar Farooq 17U00609
Q1. Is use of the World Wide Web appropriate only for large companies? Explain. (5)
Ans. No, World Wide Web isn’t appropriate only for large companies. Actually this word isn’t
related to any company. World Wide Web is the word that is a word that is commonly used for
the web, mean internet. So it means that this is everything that is available on the internet. If we
relate it to the businesses, it’s everything that is available on the internet about that business. In
today’s world we see that there are many companies that are operating only over the internet and
doesn’t have any physical office or a shop. Most of these companies are small scale business. So
we cannot say that World Wide Web can only be used for large companies.
World Wide Web also helps the companies to do advertising, to reach out to the potential clients,
do internal and external communication. It’s not something that only large companies do. Web is
for any scale of companies.
For example, we have seen that in recent years many online stores have opened in Pakistan.
These stores are selling products online through their websites, or even just through their social
media pages, like on Instagram, or Facebook. These are very small companies which are
sometimes only being operated by one person. Therefore, World Wide Web isn’t just for the big
companies.
Q2. What is ‘e-business?’ Give two examples and explain how the business operates. (5)
Ans. E-business means that the business is being done over the internet. It can be any product,
any service, or even any information being sold. We have seen a rapid growth in E-businesses all
over the world and especially in the developing countries as there was a huge gap in those
markets. Now even the students are doing E-businesses while attending their schools. This has
made business very easy, and is also feasible for the customers because they don’t need to go to
any stores to buy something, they can just do it through the phone.
The main examples of e-business are; Freelancing, and online stores. If we take freelancing,
there are many skilled people who are going towards freelancing as they can sell their services to
developed countries where there is more demand of their services, and that pays more as
compared to the local market. So these people register on any online company like Fiver, or
Upwork. They make a profile over there, and then they can bid to different potential clients
through it. Once the deal is done, they provide the services to the customer, and in return they get
paid via that platform. However, in online stores people post their products on the internet, and
the buyers buy online.
Q3. Does e-business present a threat or an opportunity to traditional stores and
wholesalers? Explain. (5)
Ans. E-business can be both the threat and an opportunity for the traditional stores. It depends on
the other e-businesses operating around them. Some e-businesses just buy the products from any
store or wholesalers, and sell it online by keeping their profit margin. However, if the e-business
grow, and start doing their own production, or cut the wholesaler, it will be a huge threat for that
wholesaler. Therefore it is suggested that even if a wholesaler, or store is operating in traditional
way, they make a portal online too, as it will help them to reach out to more customers, and also
keep the potential competitors away.
Q4. Give an example of a ‘business model’ and how it can give rise to an opportunity to
enter markets overseas. (5)
Ans. As we know that Pakistan is an agricultural country, and we also have good livestock
industry. So we can manufacture leather products on a very economical costs, because of the low
prices of animal leather. However, if we check it in foreigner countries, the leather products are
quite expensive there. Therefore, we can take advantage of it, and it will be a great opportunity to
look to. In the start we need to keep things simple, we can sell it through an established portal of
wholesalers. This will also be a good opportunity to sell products on large scale. Along that we
can also make our own e-commerce store and make a proper brand that compete with renown
brand in terms of the quality and the price. So we will be operating in both B2B, and B2C model.

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Umar Farooq 17U00609

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