East West University

Assignment No-3 MIS 501, Management & Information System Sec-1

Assignment on Challenges and perspective of e-commerce in Bangladesh

Submitted to: Dr Syed !aisa" #asan $ast %est &ni'ersity

Submitted by: S(a(riar #asan Id: )01)-01-*5-03+

Date of submission: 10-11-)01)

E-commerce is also called electronic commerce. It means the buying and selling of products or services through an electronic medium, without using any paper document. We can define it another way. E-commerce is widely considered the buying and selling of products over the internet. E-commerce is divided into three categories: business to business, business to consumer and consumer to consumer. Here are a few examples of e-commerce: a. ccepting credit cards for online sales.

b. !riving information through a company via its internet. c. "rading stoc# in an online bro#erage account. d. $heapest means of doing business. e. %eduction in buyer&s sorting out time. f. 'irtually eliminates processing errors. g. (usiness without the barriers of time or distance. (angladesh is slowly but surely entering into the e-commerce era. In (angladesh the government is wor#ing hard to achieve digital (angladesh by )*)+. With a view to this, several activities including introduction of e-,overnance and e-commerce have already been underta#en. -ome sectors have started doing e-commerce. .obile phone companies /e. g. 0lexi load, ,1 (ill 1ay -ervices23 (an#s /e.g. 4nline- (an#ing2, -hopping .alls /e.g. (uying and -elling using $redit $ard2 are a few of them. In (angladesh, the cost of delivering information to customers over the Internet results in substantial savings to senders when compared with non electronic delivery. .a5or savings are also reali6ed in delivering digiti6ed products versus physical delivery. $ustomer service can be greatly enhanced by enabling customers to find detailed information online. E-commerce has brought a great impact in our finance system of (angladesh. 7sing ". machine, people now can ban#ing at any time that changes the customers8 financial lives and sha#e the foundations of financial systems. "he use of the Internet to provide sell-side e-commerce has been widely adopted in the transportation in (angladesh. lmost every transportation company offers its

customers the ability to log onto its Web site to ma#e boo#ings, and to trac# and trace shipments. In %,. sectors have the lion&s share of export earnings of our country. E-commerce most effective use is possible in the %,. sectors of our country. "he producer of traders of %,.s deals with the buyers and merchandiser all over the world. "hrough e-commerce they can be connected globally. (y entering into the global networ# the process of %,.s get easier. It is a matter of hope that our %,. sectors has entered into this e-business era. "he producers of our country contact with buyers online ta#e order online and get their payment by electronic fund transfer. "hese process of ecommerce reduces the time, cost to a great extent. "he agricultural business in (angladesh is encircled by three types of agents including products, traders and consumers. "he traders are not doing anything special but gaining the super normal profit of the business. "he system exploits the producer directly not to give the appropriate portion what the producers deserve really. gricultural e-commerce will abolish these traders to optimi6e the present business structure by providing the normal profit to the producers and minimum price for the consumers. 1roducers and consumers related to agricultural sector should have the privilege to get the perfect information about the agricultural product, crops, mar#et information, weather news etc. internet with e-commerce facilities can fulfill all these re9uirements. In our country there are some e-commerce shops. (ut the numbers of these ecommerce shops are very few. Entrepreneurs should come forward in order to start more e-commerce business. When the problems regarding e-commerce will lessen then more people will come forward. -ome e-commerce shop in (angladesh: www.clic#bd.com www.cellba6arr.com www.webbangladesh.com www.haatba6ar.com: www.bdba6ar.com www.banglacommerce.com www.sonarmar#etplace.com www.upoharbd.com www.bdgift.com 4n the other hand e-commerce is not yet much developed in (angladesh. "here are many reasons behind it one simple reason is this country is not so developed and most of its citi6ens are poor and uneducated. It is 9uit natural that there are few customers who is willing and can shop in internet. It will ta#e years to be developed this sector in (angladesh.

"he telecommunication infrastructure any country affect the Internet services directly, cause it is largely depended on it. "elecommunication sector in (angladesh is characteri6ed by: +. 1oor level of penetration ). High cost to access and ;. lengthy waiting period !ue to many reasons we need to wor# hard to be able to be of much use of ecommerce in the near future in (angladesh. "he reasons are: +. <ow per capita income ). wea# infrastructural and legal environment

;. <ac# of trust between business and consumers. =. >on-availability of international credit cards ?. 0oreign currency remittance restrictions @. !elays and informal payments at customs clearance.

"he future of e-commerce in (angladesh may be prosperous. (ecause day by day the literacy rate of our country is increasing. "oday&s young generation is being inclined to technology more and more. "hey are very interested to discover any new technological offering and advantages. lthough ours is poor country ma5orities of our educated people today has a personal computer and have access to the internet. $ompanies are also becoming more and more technology oriented. "o remain competitive in the industry, to sustain in this competitive age of globali6ation it is must to use internet to get updated information about mar#et changes, opportunities and threats. In (angladesh we can see now that from the very beginning level of school the computer is being taught how to operate. "here are different types of compulsory sub5ect on computer in different stages of education. In our country most of the internet users are the students, teachers, employees, employers, researchers and all classes of educated people. lmost all educated person has access to the internet now a days. If we try to dream about ma#ing the future of e-commerce successful we have to increase the use of internet and develop a favorable environment.

E commerce has great potential future in (angladesh. -o the govt. should be favorable with their legal restriction and ta#e necessary steps to ma#e the country infrastructural developed and eligible with favorable environment for all operation of ecommerce successfully.