The limitations of electronic mode of doing business are given below: 

Low personal Touch: It lacks the warmth of interpersonal interactions. Therefore, such products which need personal touch like beauty products, garments, fashion accessories etc. can’t be traded through e-business. 

Mismatch between order giving/taking speed and order fulfillment speed: Sometimes websites take a long time to open which may frustrate the user. Even after giving or taking order, it takes enough time to give physical delivery of goods. It also plays on the patience of the customer. 

Knowledge of technology is must: For e-commerce both the parties need fairly high degree of familiarity with the world of computers. It divides the society into two parts i.e; one who are familiar with digital technology and other who are not. 

Increased risk due to parties being unknown to each other: When two parties are involved in e-business, they are unaware of personal identities of each other. They do not even know the locations of the parties involved. It makes e-business risky. There may also be problems of virus and hacking. 

People Resistance: People are resistant to change their ways and adopt new technology. Change is perceived as a source of stress and insecurity by many. 

Ethical Concerns: These days companies use an electronic eye to keep track of the websites being used by employees, computer files that they use, their e-mal accounts etc. It is not ethical. But in spite of these limitations, e-business is the way. No, these limitations are not severe enough to restrict its scope. 

Improvement in Information Technology: With the improvement in information technology and emergence of internet the process of outsourcing and e-business is on an expansionary path. Anti virus and improved security measures are increasing to make e-business more secure and safer option. 

More and more Interactive Websites: Websites are becoming more and more interactive. It is removing the problem of ‘low personal touch’. 

Improvement in Communication Technology: Communication technology is continually evolving and increasing the speed and quality of communication through internet so that customer does not get frustrated in processing the order. 

Diffusion of E-Commerce in all nooks and corners of the country: An order to diffuse ecommerce in all nooks and corners, India has undertaken about 150 such projects. It is increasing the number of people acquainted with digital technology. We can conclude that e-business will continue to stay and reshape the businesses, governance and economies.

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BUSINESS STUDIES DELETED TOPICS FROM SYLLABUS...

(1) Profession is an economic activity that requires special knowledge and skill to be applied by
individuals for earning their living.
(2) Individuals engaged in professions are known as
professionals.
(3) These professionals have to follow the guidelines or codes of conduct laid down by professional bodies.
(4) For example, doctors are professionals engaged in the medical profession and have to follow the codes of conduct laid down by the Medical Council of India.

Arguments against Social Responsibility:

1. Violation of Profit Maximization: As per this argument, business enterprises claim that our objective is profit maximization. Business can reduce its cost and raise profits and then only it can meet its social responsibility.
2. Lack of Social Skills: Business enterprises neither have skill nor experience to solve all types of social problems. Therefore, it should be handled by specialized agencies.
3. Burden on Consumers: Many of the social responsibilities cost a lot and its burden falls on consumers only.
4. Lack of Broad Public Support: Business cannot operate successfully because of lack of cooperation and confidence on behalf of public to business enterprises.

The portion of profits of a business that are not distributed as dividends to shareholders but are reserved for reinvestment back into business is called Retained Earnings (RE). 

Retained Earnings (RE) = Beginning RE + Net Income – Dividends.

 Hindrance of time resolved by warehousing, because there is time gap between production and consumption.

This hindrance is seasonal. If Ramesh starts to sell the winter wear early than the other competitors, then he might not face that hindrance.

The concept of business entity assumes that business has a distinct and separate entity from its owners. It means that for the purposes of accounting, the business and its owners are to be treated as two separate entities. 

Keeping this in view, when a person brings in some money as capital into his business, in accounting records, it is treated as liability of the business to the owner. 

Here, one separate entity (owner) is assumed to be giving money to another distinct entity (business unit). 

Information Technology

Information technology is shifting away from products such as packaged software towards services such as software as a service.

Hospitality

Any service that hosts guests such as a hotel, restaurant or pub.

Travel

Travel services such as a flight or tour.

Transportation

Daily transportation services such as a train.

Media

Media such as a newspaper, blog or video.

1) RTGS : RTGS is a system of interbanking settlement of transactions conducted among different banks on real time and gross basis. Real time settlement means settling transactions at the time when they take place; there is no time lag between transactions taking place and their settlement. Gross basis involves settling all transactions individually without matching any transaction with another. In RTGS system, every bank along with the Central Bank is linked electronically. Whenever any transaction takes place between two banks, it is settled by the RTGS system. A bank may know its liquidity position at any time during the transaction hours.
2) NEFT: NEFT is a nationwide system that facilitates individuals and organisations having bank accounts to transfer funds from their accounts electronically to individuals and organisations having any other bank accounts. However, the intending funds transferor must be authorised by the bank for this. For transferring the funds, the transferor may either use his own electronic resources (computer network). However, branches concerned (transmitting branch and receiving branch) must have NEFT facility. There is no limit on the amount of transfer of funds from the accounts.

Professional Outsourcing. Professional outsourcing includes accounting, legal, purchasing, information technology (IT), and IT or administrative support amongst other specialized services. This is one of the most popular types of outsourcing as there is potential for high cost savings.

• Professional Service Outsourcing. It's very common for many companies to outsource their complicated tasks and processes. ...
• Manufacturing outsourcing. This is the most pushed towards type. ...
• Process-Specific Outsourcing. Other models include very niche processes. ...
• Operational Outsourcing Service.

Ans.

a. Employment
b. Profession
c. Business. 
Business: Business refers to those economic activities, which are connected with the production or purchase & sale of goods or supply of services with the main object of earning a profit. To earn income in the form of profit people engage themselves in business.
Examples: fishing, mining, farming, manufacturing, wholesales etc.

Profession: Professions includes those activities, which require special knowledge & skill to be applied by individuals in their occupation. Those engaged in professions are known as professionals. Professionals are generally subjected to guidelines or codes of conduct laid down by professional bodies.
Examples: Lawyers are engaged in the legal profession, governed by the bar council of India & chartered accountants belonging to the accounting profession are subject to the regulations of the Institute of chartered accountants of India.
Employment: Getting remunerated in return for the work done for others refers to an employee. Employees are the people who are employed by others. Thus, people who work in factories, offices of banks, insurance companies or government department, etc at various posts are the employees of these organizations. They receive wages & salaries. Examples: working in offices, banks, insurance companies, shops, as a manager, clerk, peon, salesman etc.