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Prospects of E-commerce in Bangladesh

Shaikh Mostak Ahammad
Assistant Professor
Department of Accounting, HSTU, Dinajpur

Farhana Satter
Lecturer
Department of Finance and Banking, Dhaka Commerce College

Mohammad Saifullah
Senior Lecturer
Department of Economics, Asian University of Bangladesh

Abstract/ Executive Summary:

Bangladesh is integrating an array of e-commerce solutions into its business processes. Beginning with procurement through preferred vendor partners, Bangladeshi customers can now use authenticated web access to buy and sale different products in very small scale. Bangladesh has a large potentially for e-commerce and its related activities. This presentation will demonstrate the prospect and the future of e-commerce for those business organizations that may be preparing to implement e-commerce solutions into their daily functions. It also tries to show an over all picture of e-commerce, in context of Bangladesh.

Keywords: e-commerce, Website, Buzzword, Digital business, DDN, ISP, IT, VSAT

Location: In Bangladesh

Start Date:

End Date:

Program Area: Socio-economic and Policy

Commodity: E-Commerce

Objectives:

The main objective of this study is to find out the present condition and the probable future of e-commerce in Bangladesh. We have not only tried to figure out the bottleneck that is faced by the e-commerce in our country but also the prospects it has for the economic prosperity, that is enjoyed by the developed countries of the first world. We have tried to portrait the magnitude of e-commerce and its apparent impact on Bangladesh economy. For this purpose we have collected information from different sources like publications of government, educational institute and business arena. We tried to figure out how an organization could use e-commerce to reduce their cost and increase their efficiency. From this paper, an organization could get a general guide line to implement e-commerce in all of their business activities.

Methodology:

For the purpose of this study we have used systematic and objective process for gathering, recording and analyzing data. We have tried to avoid distorting effect of personal bias as much as possible. For the purpose of research, first of all, we have tried to identify the issues. Then we diagnosed those problems. At the end we have selected and evaluated the courses of action. Mainly we have followed secondary data. For the study most of the information was collected from the following sources: ? Text Book ? Banks and Financial institutions ? Bangladesh Bank ? Ministry of Law ? Selected Industries ? Ministry of Planning ? Ministry of Commerce ? Ministry of Science and technology ? BTTB

Present situation Not so many days have passed that Internet comes to our country. It has launched in 1996 through ISN. The success of e-commerce in our country is mare. The total number of ecommerce site in our country is forty, where in India there one thousand of e-commerce related businesses. In this sense e-commerce industry is not flourished in our country. We are still in the learning phase if we consider ourselves in context of developed nations. At present a small number of e-commerce business are running profitably in this country though a large number of e-commerce related companies couldn’t even able to reach their break-even point. Some of the businesses are already been shut down. So, present situation is not very enlightening. We have to take drastic measures to improve the conditions of e-commerce industries of this country.

Some example of e-commerce business in Bangladesh Small steps from Munshiji for e-commerce in Bangladesh: Munshiji is the pioneer of e-commerce industry in our country. To say about the best ecommerce site, the name of the Munshiji must come first. In 1999 Munshiji technology limited released their site (www.munshiji.com). By the direction and designed of corona IT, this web site gives all advantages. They maintain their function not in e-commerce but also aiming at doing some specific activities. They are interested to export cottage, handicrafts, silk, jute products, tea, leather and leather products, software etc. In future, they are determined to establish local traditional "Noksi Kantha" as a international products. Besides, Munshiji want to establish our economy on e-commerce based. Finally, Munshiji has been doing a tremendous job towards establishing our industry to the world market (www.munshiji.com).

Kinds of e-commerce Business-to-Consumer (B2Q): Where the main aim of the web portal and electronic transaction is providing easy access of business opportunities among the consumer and enterprises. Business-to-Business (B2B). Here business happens mainly among different business organizations through electronic and web-based communication. Transaction is done in this way to reduce cost and increases efficiency. Business-to-Administration (B2A): In this mode of e-commerce business organizations maintain their administrative interaction through web based communication (Oelkers).

Source of Information: J. Sci. technol. (Dinajpur) Vol. 5: 74-80 (2007) ISSN 1994-0386

Article Link (Online Journal):

Funding Source:

Budget:

Total Budget (Tk.) :

Achievement/Findings:

From our study we come to conclusion that through this e-commerce, Bangladesh can be prosperous in the business arena of the world. All the major countries of the world are trying to embrace this technology with open arm. We can not just wait and see this tremendous phenomenon. We have to take active part in adopting this technology. If we become unsuccessful, the ray of modern era will never come to our country. So for the betterment of the nation we have to take drastic measures as early as possible. Our hope for future lies in the hand of e-commerce.

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