eGr12TG Business Studies

Development in Auxiliary Services

  • The Industrial Revolution catalyzed advancements in auxiliary services including banking, transport, insurance, communication, and warehousing.

Evolution of Business Stages

  • The Industrial Revolution is identified as the third stage in the evolution of business.

  • The four important stages of business evolution are:

    • Barter System

    • Use of Money

    • Industrial Revolution

    • Information Era (noted as the fourth stage)

Definition of Commerce

  • Commerce is defined as the combination of trade and support services:

    • extCommerce=extTrade+extSupportServicesext{Commerce} = ext{Trade} + ext{Support Services}

  • Trade is categorized into:

    • Local Trade

    • Foreign Trade

    • Retail Trade

    • Wholesale Trade

    • Import Trade

    • Export Trade

  • Auxiliary Services include:

    • Banking

    • Transport

    • Insurance

    • Communication

    • Warehousing

Electronic Commerce and Electronic Business

  • Electronic Commerce: The act of buying and selling activities conducted over the internet.

  • Electronic Business: Encompasses all business activities that are conducted using the internet.

Factors Contributing to the Popularity of Electronic Commerce

  1. Business information can be exchanged without paperwork.

  2. Accelerates business activities.

  3. Reduces operational and inventory costs.

  4. Expands the global market space.

  5. Enhances the quality of goods and services.

  6. Saves time and energy for customers.

  7. Increases computer literacy.

  8. Improves infrastructure facilities.

New Trends in Business Due to Information Technology

  • Globalization has expanded significantly.

  • Emergence of Electronic Businesses has transformed traditional business models.

  • Use of Electronic Money is becoming more commonplace.

  • Increasing Environmental Concerns.

  • Growing emphasis on Business Social Responsibilities.

Competency 1.0: Inquiry into Business Basics and Operating Environment

Competency Level 1.3: Classifying Businesses

  • Learning Outcomes:

    • List different criteria for classifying businesses.

    • Classify businesses in the school area using those criteria.

    • Explain how a single business can belong to multiple categories.

    • Illustrate classification by the Gross Domestic Product (GDP) in Sri Lanka.

    • Present contributions of each production sector to the GDP.

Instructions for Lesson Planning

  • Sample questions to discuss:
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