11th Class Business Studies Emerging Modes Of Business Question Bank Emerging Modes Of Business (Short)

  • question_answer
    Write a short note on the history of e-commerce.

    Answer:

    Ans. The origin of e-commerce dates back to electronic media like telephone fax compact disc cable and personal computer etc. These electronic media had several limitations like speed accuracy secrecy geographical distance authenticity etc. Business transactions were carried out using electronic devices. Let us look at the history chronologically.
    1. In 1984 EDI or Electronic data interchange was standardized through ASC X12. It guaranteed that companies will be able to complete transactions with each other reliably.
    2. In 1992 'Compursive' offered online retail products to its customers.
    3. In 1994 Netscape arrived which provided a simple browser to surf the internet and launched a safe online transaction technology called Secure Socket Layer (SSL).
    4. In 1995 two of the biggest names in e-commerce were launched namely amazon. Corn and e - bay.com.
    5. In 1998 Digital Subscribed Line was launched.
    6. In 1999 retail spending over the internet reached 820 billion dollar as per business. Corn.
    7. In 2000 the USA government extended moratorium on internet taxes till 2005.


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