TUTOR MARKED ASSIGNMENT PROGRAMME CODE 3 B.COM COURSE CODE : BCOS — 184 SEMESTER 3 FOURTH COURSE TITLE : E-COMMERCE ASSIGNMENT CODE : BCOS — 184/TMA/2021-22 COVERAGE : ALL BLOCKS Maximum Marks: 100 Note: Attempt all the questions. Section — A Q.1 State the various advantages and disadvantages of E-commerce. (10) Q.2 Explain the various types of online payment methods. a0) Q3__ Do you think Distributed Ledger Technology (DLT) is revolutionizing the world? If so how? (10) Q4 What is E-tailing? Explain its advantages and disadvantages for both the retailers and the (10) buyers. QS _ Explain the process pertaining to acknowledgement and dispatch of electronic records. (10) Section - B Q.6 State the impact of Block chain technology with respect to © Q.7 What are the various non-biometric security measures? © Q8 What are the most advance functions of E-commerce software? © Q9 — Whatare the various key elements of a business model? © Q.10 State the importance of E-Governance. © Section —C Q.11 Briefly comment on the following: 10) a) E-commerce leads to fast and convenient services to citizens. b) The main aim of cyber security is to help make the business more successfill ©) Recent technology disruption has been knocking at the banking industry much more than before. 4) Having an online presence is imperative on the part of any type of business these days. Q.12_ Distinguish between the following: (10) a) Hardware and Software b) App based business and Web based business ©) Self hosted payment gateways and API hosted payment gateways 4) Digital Signature and Electronic Signatureyoutube.com/ I Respect My Pen Bachelor of Commerce B.Com CHOICE BASED CREDIT SYSTEM BCOS - 184: E-COMMERCE ASSIGNMENT 2021-2022 Fourth Semester ASSIGNMENT CODE : BCOS - 184/TMA/2021-22 COVERAGE : ALL BLOCKS Maximum Marks: 100 Note: Attempt all the questions. Section-A Q.1 State the various advantages and disadvantages of E-commerce. Ans. Advantages of E-Commerce + E-commerce provides the sellers with a global reach. They remove the barrier of place (geography). Now sellers andyoutube.com/ I Respect My Pen buyers can meet in the virtual world, without the hindrance of location. + Electronic commerce will substantially lower the transaction cost. It eliminates many fixed costs of maintaining brick and mortar shops. This allows the companies to enjoy a much higher margin of profit. + It provides quick delivery of goods with very little effort on part of the customer. Customer complaints are also addressed quickly. It also saves time, energy and effort for both the consumers and the company. + One other great advantage is the convenience it offers. A customer can shop 24x7. The website is functional at all times, it does not have working hours like a shop. + Electronic commerce also allows the customer and the business to be in touch directly, without any intermediaries. This allows for quick communication and transactions. It also gives a valuable personal touch. Disadvantages of E-Commerce + The start-up costs of the e-commerce portal are very high. The setup of the hardware and the software, the training cost of employees, the constant maintenance and upkeep are all quite expensive. + Although it may seem like a sure thing, the e- commerce industry has a high risk of failure. Manyyoutube.com/ I Respect My Pen companies riding the dot-com wave of the 2000s have failed miserably. The high risk of failure remains even today. - At times, e-commerce can feel impersonal. So it lacks the warmth of an interpersonal relationship which is important for many brands and products. This lack of a personal touch can be a disadvantage for many types of services and products like interior designing or the jewelry business. + Security is another area of concern. Only recently, we have witnessed many security breaches where the information of the customers was stolen. Credit card theft, identity theft etc. remain big concerns with the customers. + Then there are also fulfillment problems. Even after the order is placed there can be problems with shipping, delivery, mix-ups etc. This leaves the customers unhappy and dissatisfied. Q.2 Explain the various types of online payment methods. Ans. Credit Card The most popular form of payment for e-commerce transactions is through credit cards. It is simple to use; the customer has to just enter their credit card number and date of expiry in the appropriate area on the seller’s web page. To improve the security system, increased security measures, such as the use of a card verification number (CVN), have been introduced to on-line credit card payments. The CVN systemyoutube.com/ I Respect My Pen helps detect fraud by comparing the CVN number with the cardholder's information Debit Card Debit cards are the second largest e-commerce payment medium in India. Customers who want to spend online within their financial limits prefer to pay with their Debit cards. With the debit card, the customer can only pay for purchased goods with the money that is already there in his/her bank account as opposed to the credit card where the amounts that the buyer spends are billed to him/her and payments are made at the end of the billing period. Smart Card It is a plastic card embedded with a microprocessor that has the customer’s personal information stored in it and can be loaded with funds to make online transactions and instant payment of bills. The money that is loaded in the smart card reduces as per the usage by the customer and has to be reloaded from his/her bank account. E-Wallet E-Wallet is a prepaid account that allows the customer to store multiple credit cards, debit card and bank account numbers in a secure environment. This eliminates the need to key in account information every time while making payments. Once the customer has registered and created E-Wallet profile, he/she can make payments faster.youtube.com/ I Respect My Pen Netbanking This is another popular way of making e-commerce payments. It is a simple way of paying for online purchases directly from the customer’s bank. It uses a similar method to the debit card of paying money that is already there in the customer’s bank. Net banking does not require the user to have a card for payment purposes but the user needs to register with his/her bank for the net banking facility. While completing the purchase the customer just needs to put in their net banking id and pin. Mobile Payment One of the latest ways of making online payments are through mobile phones. Instead of using a credit card or cash, all the customer has to do is send a payment request to his/her service provider via text message; the customer’s mobile account or credit card is charged for the purchase. To set up the mobile payment system, the customer just has to download a software from his/her service provider’s website and then link the credit card or mobile billing information to the software. Amazon Pay Another convenient, secure and quick way to pay for online purchases is through Amazon Pay. Use your information which is already stored in your Amazon account credentials to log in and pay at leading merchant websites and apps. Your payment information is safely stored with Amazon and accessible on thousands of websites and apps where you love to shop.youtube.com/ I Respect My Pen Google Pay Another online payment and digital wallet in the competition race is Google Pay. It is expected to cross the 100 million users mark in 2020. Google Pay is a highly secure and convenient online payment platform with some exciting rewards for both the merchants and customers on transactions. Q.3 Do you think Distributed Ledger Technology (DLT) is revolutionizing the world? If so how? Ans. Yes Distributed Ledger Technology (DLT) is revolutionizing the world. Distributed Ledger Technology (DLT) refers to the technological infrastructure and protocols that allows simultaneous access, validation, and record updating in an immutable manner across a network that's spread across multiple entities or locations. DLT, more commonly known as the blockchain technology, was introduced by Bitcoin and is now a buzzword in the technology world, given its potential across industries and sectors. In simple words, the DLT is all about the idea of a "decentralized" network against the conventional "centralized" mechanism, and it is deemed to have far-reaching implications on sectors and entities that have long relied upon a trusted third-party. Distributed Ledger Technology (DLT) is a protocol that enables the secure functioning of a decentralized digital database. Distributed networks eliminate the need for a central authority to keep a check against manipulation.youtube.com/ I Respect My Pen DLT allows for storage of all information in a secure and accurate manner using cryptography. The same can be accessed using "keys" and cryptographic signatures. Once the information is stored, it becomes an immutable database and is governed by the rules of the network. DLT has great potential to revolutionize the way governments, institutions, and corporations work. It can help governments with tax collection, the issuance of passports, recording land registries and licenses, and the outlay of Social Security benefits as well as voting procedures. The technology is making waves in industries such as finance, music and entertainment, diamond and other precious assets, art, supply chains of various commodities, and more. In addition to startups, many big companies such as IBM and Microsoft are experimenting with the blockchain technology. Some of the most popular distributed ledger protocols are Ethereum, Hyperledger Fabric, R3 Corda, and Quorum. Q.4 What is E-tailing? Explain its advantages and disadvantages for both the retailers and the buyers. Ans. E-tailing stands for E-retailing also known as e-retail as "sales of goods and services via the internet or other electronic sources, for personal and household use by consumers". The term E-Retailing was first developed in the European countries. It has both passive and interactive retail system while all e- tailing is generally limited to passive, air ticketing and otheryoutube.com/ I Respect My Pen entertainment booking is designed in interactive system mostly. E-tailing has various features as stated below: © Saves time and efforts. * Convenience of shopping at home. © Wide variety/range of products. © Good discounts / lower prices. © Get detailed information about the product. ® Easy comparison of various models/brands. Advantages of E - tailing for retailers: Location utility : Location is utmost important for the conventional retailing process to provide convenience utility to consumers . However , in e - tailing location is not important . Retailers and customers need internet for e - tailing and transaction can happen from anywhere from within the country or overseas . Less expensive : As compare to organised retailing , e - tailing is less expensive as it saves wages of salesmen and premises cost and maintenance . These expenditures are low as compare to internet cost . High Reach: Integration with customers is high in e - tailing as customers can be local, national and international. Through internet, e - tailers can reach to large audience.youtube.com/ I Respect My Pen 24 * 7 businesses: The time utility for customers is high in e - tailing as customers can buy the products and services from anywhere and anytime. Feedback: It's easy to manage customer relationship management in e-tailing on the basis of feedback of consumers. Disadvantages of E - tailing for retailers Lack to infrastructure : The issues of accessibility and connectivity of internet causes problems in functioning of e - tailing activities . Also , the initial investment cost is very high in e - tailing . Lack of technological expertise : To start an online retailing project it is important to have technological expertise and not all retailers have it . Complex logistic management : Intrinsic and extrinsic challenges increase the complexities in e - tailing logistics . Like cash on delivery increases the operational cycle , managing high rates of returns , poor logistic management in rural areas and problems in cross - nation shipments . In this policy , the investment risk in the investment portfolio is borne by the policyholder .youtube.com/ I Respect My Pen Customers ' expectations : In terms of flexibility in delivery , detailed product descriptions , cost and security of delivery , flexible payment options sets high expectations of customers . Lack of personal touch : The lack of face to - face interaction , persuasion and handling the customers ' query is a major disadvantage in e - tailing . High competition : E - tailers have to compete with other e - tailers as well as the organised and unorganised retailers in the market that increase the competitions for them. Advantages of E - tailing for buyers Time utility as consumers can shop 24 * 7 Place utility as consumers can shop from anywhere Convenience utility as consumers can shop from any mode via computer , laptops or mobile Option utility as consumers can get wide range of option via e - tailing Disadvantages of E - tailing for buyers Customers may be uncertain regarding the quality of the products and services offered online ¢ Fear regarding online fraud and loss of money e Every time not every product is available . ¢ Lack of technological know - howyoutube.com/ I Respect My Pen Q.5 Explain the process pertaining to acknowledgement and dispatch of electronic records. Ans. Introduction: Information Technology Act 2000. (IT Act 2000) The electronic means of communications do not have any tangible medium. Thus, affixing of parties’ signatures on something that is not physical or tangible is not possible. The solution lies in having electronic signatures on an electronic record. Like written signatures such as digital signatures can be used to guarantee that the electronic document, which has been signed by way of electronic signature, has not been altered or tampered with. This new mode of communication of information has not changed the basic nature of the transaction but only its form. Law has to adapt to these changes and together with the business community has to evolve rules and practices which ensure reliability and validity more than what is traditionally expected from paper based documents. Section 11. Under Attribution of Electronic Records. An electronic record shall be attributed to the originator — 1. If it was sent by the originator himself. 2. By a person who had the authority to act on behalf of the originator in respect of that electronic record, or 3. By an information system programmed by or on behalf of the originator to operate automatically. Section 12. Acknowledgment of Receipt.youtube.com/ I Respect My Pen Where the originator has not agreed with the addressee that the acknowledgment of receipt of electronic record be given in a particular form or by a particular method, an acknowledgment may be given by — 1. Any communication by the addressee, automated or otherwise, or 2. Any conduct of the addressee, sufficient to indicate to the originator that the electronic record has been received. Where the originator has stipulated that the electronic record shall be binding only on receipt of an acknowledgment of such electronic record by him, then unless acknowledgment has been so received, the electronic record shall be deemed to have been never sent by the originator. Where the originator has not stipulated that the electronic record shall be binding only on receipt of such acknowledgment, and the acknowledgment has not been received by the originator within the time specified or agreed or, if no time has been specified or agreed to within a reasonable time, then the originator may give notice to the addressee stating that no acknowledgment has been received by him and specifying a reasonable time by which the acknowledgment must be received by him and if no acknowledgment is received within the aforesaid time limit he may after giving notice to the addressee, treat the electronic record as though it has never been sent. Section 13. Time and Place of Despatch and Receipt of Electronic Record.youtube.com/ I Respect My Pen Save as otherwise agreed to between the originator and the addressee, the dispatch of an electronic record occurs when it enters a computer resource outside the control of the originator. Save as otherwise agreed between the originator and the addressee, the time of receipt of an electronic record shall be determined as follows, namely :- 1. If the addressee has designated a computer resource for the purpose of receiving electronic records — 1. Receipt occurs at the time when the electronic, record enters the designated computer resource, or 2. If the electronic record is sent to a computer resource of the addressee that is not the designated computer resource, receipt occurs at the time when the electronic record is retrieved by the addressee. If the addressee has not designated a computer resource along with specified timings, if any, receipt occurs when the electronic record enters the computer resource of the addressee. Save as otherwise agreed to between the originator and the addressee, an electronic record is deemed to be dispatched at the place where the originator has his place of business, and is deemed to be received at the place where the addressee has his place of business. The provisions of sub-section (2) shall apply notwithstanding that the place where the computer resource is located may be different from the place where the electronic record is deemed to have been received under sub-section (3).