[Pick th
Report On
E
-Commer
ce in Banglades
Sk. Alamgir Hossain
Lecturer,
Department of Finance, Faculty of Business Studies, Jagannath University, Dhaka
Sultan Ahmed Khan
Representative of the group Epimetheus
MBA 3rd Batch (2012-13) Department of Finance, Faculty of Business Studies, Jagannath University, Dhaka
Submitted To
Group Name:
Epimetheus
Name of the members of the group:
Serial No:
Name of the members of the group
Roll Number
01
Sultan Ahmed Khan
M120203050
02
Md. Anik Mahmud
M120203073
03
Mohammad Mahmudul Hasan
M120203014
04
Sakhawat Hosain Chowdhury
M120203081
05
Md. Mofazzal Hossen
M120203064
06
Nahid Sultana
M120203043
Group Representative: Sultan Ahmed Khan. Contact :[email protected]
October 22, 2014
Sub: Thanks giving letter to the respective faculty member.
Sir,
We are the student of Department of Finance (3rd batch) of Jagannath University, Dhaka &
also from the group named “Epimetheus”. We are very much enthusiastic about our presentation. We are really happy to have such a presentation of challenging and interesting like this presentation & also thanks to you for making us worthy for corporate. Our topic is
“E-Commerce in Bangladesh”. We have learned many things from this topic which will help us in future to conduct as a finance official. There were some obstacles we have faced at the time of collecting data about our topic. But we have overcome all the obstacles by the endeavor effort by each member of our group and tried our best to give an overview of our topic.
We the group “Epimetheus” tried our best to make this term paper impeccable, interesting, informative and enjoyable by the help of electronic and print media in association with our honorable teacher, mentor, counselor, instructor and advocate “Sk. Alamgir Hossain”. We are really grateful to him. We had limitations at the time preparing presentation. So mistakes may occur in our demonstration of our presentation. We hope that, you will exempt our mistakes.
In this 21st century shopping online is not a fashion but necessity and the world makes this necessity a weapon to live a faster and lavish life. However, E commerce makes our opportunities bigger than any other trade form evolved in a few past centuries. It is as imperative as the evolution of barter and trade system. But, we are not yet accustomed to the form of this Godly business as the 1st world country understands. They are in every form of this type of commerce and services where we are only in a few forms. Actually we are lagging behind in payment method and bestowing trust in it.
Bangladesh only practice B2B, B2C and B2G. If we can accommodate e commerce in our country then our business process will be going to run for 24x7. The price of stuff will be reduced. But, some problem will arises because of our trade weakness such as customer loses their chances to bargain with seller. Sometimes transportation cost may increase product cost. Mostly, this business is not growing here because of our perception about the business although the opportunities are far more delicious against the weakness and threats. But, our infrastructure is supporting us very crucially that we have a huge mobile user in country those who can easily access in internet. The telephone density is quite impressive. Our academic status is not juicy enough but is growing with keeping pace with the mounting opportunities. Moreover, Banking has gone internet in a rapid way. It is not tough to find out the benefits of this current form business. It is going to expands the Marketplace to national and international market, decrease the cost of creating, processing, distributing, storing and retrieving paper based information, allows reduced inventories and overhead by facilitating pull-type supply chain management, the pull-type processing allows for customization of products and services which provides competitive advantage to its implementers, reduces the time between the outlay of capital and the receipt of product and services, enables consumers to shop or do other transaction 24 hours a day, all year round from almost any location , provides consumers with less expensive products and services by allowing them to shop in many places and conduct quick comparisons, facilitates delivery of public services at reduced cost, increases effectiveness and or improve quality. But, to get this benefits we need some facilities such more Govt. permission over some issues, web service, database engine, storefront software, order tracking and fulfillment software etc. Then with banking service all other sector going to be see boom market. But the dire risk to generate this business is technical such as DDOS, SQL injection, price manipulation, session hijacking. But to overcome this Govt. has make some legal act and initiative under the agenda of Digital Bangladesh.
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Executive Summary
Chapter-1
Introduction 01
Rationale of the Report 01 Objective of the Report 01 Scope of the Report 02
Methodology 02
Limitations 02
Chapter -2
E-Commerce 03
Development of E-Commerce 04 Types of E-Commerce 05 Importance of E-Commerce 11 E-Commerce Transaction Method 14 Components of E-Commerce 17 E-Commerce in Bangladesh 19 Historical Background of E-Commerce in BD 21 Implementation Stage of E-Commerce in BD 25 Infrastructural Support 25 Benefits of E-Commerce in Bangladesh 29 Requirement to Establish E-Commerce in BD 31 E-Commerce in Different Sectors 33
Available Methods of Payment for E-Commerce 38
Payment Procedure for E-Commerce in BD 40
Challenges of E-Commerce for Bangladesh 42
Risk of E-Commerce for Bangladesh 43
Legal Issue of E-Commerce in Bangladesh 45
Constraints of E-Commerce Implementation 47
Overcome to E-Commerce Implementation 48
Chapter -3 Findings of the Report 51
Chapter- 01
Introduction
The term E-Commerce refers to the process of buying or selling products or service over an electronic network. Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance. Electronic commerce has expanded rapidly over the last few years and is predicted to continue at this rate, or even accelerate. In the near future the boundaries between "conventional" and "electronic" commerce will become increasingly blurred as more and more businesses move sections of their operations onto the Internet.
In this term paper we have tried to show the structure of e-commerce. Beside this we have included its type, how it works, its future, payment method and regulation for this.
Rationale of Report
The term paper is assigned by our course teacher Sk. Alamgir Hossain as a part of our “ E-Commerce & E-Banking” course. The topic of our report is “E-Commerce in Bangladesh”. By conducting this report we can enhance our knowledge regarding ecommerce and skills that will help in our professional life as well as higher educational life. The report has given us a chance to raise our quality in developing ecommerce and its secure applications
Business types of ecommerce and relationship with parties involved.
International method of payment & local payment.
Risk & overcome to ecommerce.
Scope
There were huge scopes to work in the area of this Report. Considering the dead line, and exposure of the paper has been wide-ranging. The report “E-Commerce in Bangladesh” has covered details scenario of ecommerce market in the world. Beside this it has covered payment procedure, method, support form parties, & future of its in Bangladesh. It deals E-market scenario of Bangladesh. By preparing this report, we have got a chance to work on modern & high tech upcoming commerce market.
Methodology
We have used the concept of the course, information of several companies operate e-commerce business in Bangladesh from their own website and regulation, act & other different legal information is being gathered from Ministry of Commerce, Ministry of Science and Information & Communication Technology.
Sources of Data
Here the secondary sources of information were used. The secondary sources are:
Website of Ministry of Commerce & Ministry of Science and Information & Communication Technology.
Websites of different e-commerce website like Amazon.com, eBay, etc.
Limitations
Although it has been tried on the level best to make this report based on facts and complete information available, there are some limitations that are inevitable. They are following:
Deficiencies in data required for the report.
There were some restrictions to have access to the information confidential by concern authority.
The time which we got was not enough to gather practical knowledge and prepare a report on a topic like this one. As the tenure of the report preparation was limited, it was not possible to highlight everything deeply
Inaccurate or contradictory information.
Too much sensitive information for any organization.
Chapter- 02
E-Commerce
E-Commerce refers to the process of buying or selling products or service over an electronic network. The most popular medium in which e-Commerce is conducted is the internet. It combines a range of process such as: Mobile Commerce, Electronic Fund Transfer, Supply Chain Management, Internet Banking, Online Transaction Processing, Electronic Data Interchange (EDI), Electronic mail (E-mail), World Wide Web (WWW), Internet Applications, and Network Applications. It is the process where trading of products and services are done through communication networks.
Basically E-Commerce involves the sale or purchase of goods or services over computer mediated networks. These goods or services may be ordered through these networks, but payment for them and the ultimate delivery of the goods and services may be conducted on or off line. Some analyst define E-Commerce as simple buying and selling over electronic networks; and use E-Business to refer to these wider range of supporting business activities that can be conducted over such networks.
E-commerce businesses usually employ some or all of the following practices:
a) Provide Etail or "virtual storefronts" on websites with online catalogs, sometimes gathered into a "virtual mall
b) Buy or sell on websites or online marketplaces.
c) Gather and use demographic data through web contacts and social media. d) Use electronic data interchange, the business-to-business exchange of data.
e) Reach prospective and established customers by e-mail or fax (for example, with newsletters).
Development of E-Commerce
In the 1971-1972: Understanding E-Commerce
The ARPANET is used to arrange a cannabis sale between students at the Stanford Artificial Intelligence Laboratory and the Massachusetts Institute of Technology, later described as "the seminal act of e-commerce" in John Markoff's book.
In the 1975: Card Shopping System
BankAmericard, Chargex, Barclaycard, Carte Bleue, and all other licensees united under the new name, "Visa"for next generation online shopping system.
In the 1979: Online Shopping
Michael Aldrich demonstrates the first online shopping system.
In the 1981: B2B Shopping
Thomson Holidays UK is first business-to-business online shopping system to be installed. In this year fours renowned bank offers home banking services which is presently known as I-Banking services.
In the 1982: Telephone for Online order
Minitel was introduced nationwide in France by France Télécom and used for online ordering.
In the 1983: First Hearing E-Commerce
California State Assembly holds first hearing on "electronic commerce" in Volcano, California.
In the 1984: 1st Online Home Shopper & E-Mail
Gateshead SIS/Tesco is first B2C online shopping system and Mrs Snowball, 72, is the first online home shopper. In April 1984, CompuServe launches the Electronic Mall in the USA and Canada. It is the first comprehensive electronic commerce service. California becomes first US state to enact an Electronic Commerce Act defining basic consumer rights online.
In the 1992: 1st Online Book Store
Book Stacks Unlimited in Cleveland opens a commercial sales website (www.books.com) selling books online with credit card processing.
In the 1994: Navigator Browser
