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Business has gone numerous changes in the last decade and has evolved. The manner in which business is conducted is known as mode of business. E-business and outsourcing are known as the emerging mode of business as they have brought revolution in the way business is conducted. E-business deals with conducting the business using internet. It deals with customer and suppliers over the web. All other modes of electronically conducted business can be found like inventory management, warehousing, software development etc.
Outsourcing is the process of handing over non-core functions of an organisation to some other organisation that have expertise in such areas. It reduces the company budget for maintaining such a manpower in-house. An organisation is benefitted by the experience, efficiency of the enhanced calibre of the employees.
Here are some factors which are responsible for the increasing importance of such trends
1. New ideas for doing work along with some innovation have brought about improvement in business processes.
2. Consumer are more aware and the demand for higher quality, lower price, better customer care have increased.
3. Businesses need to evolve with the new technologies in order to be more presentable