This website uses cookies to ensure you have the best experience. Learn more

The Problems, Prospects And Opportunities Of E Commerce In Bangladesh

1607 words - 7 pages

The problems, prospects and opportunities of E-Commerce in Bangladesh

As a newly developing business approach, e-commerce initiatives in Bangladesh are facing many constraints. From legal issues to technological complexities, problems that are hindering to forward march of the e-commerce initiatives are large in numbers. To cope up with the pace of today’s business trends it is very much necessary to address those problems as soon as possible. Otherwise alongside with the new business opportunities that might have stemmed from the usage of the technology, the growth of traditional business activities will fall behind than that of the rest of the world.

The problems
Miss ...view middle of the document...

The incident of hacking an ecommerce related outlet may cause serious panic among customers which in turn cause serious lack of confidence on the business. The consequence can be anything from shutting down the business to losing huge amount of sales revenue.
In Bangladesh series of Hacking incidents took place. Fortunately most of them are not e-commerce based sites. But stakeholders are very much concerned about the recent hacking and forgery of ATM cards. Culprits used their technological expertise to steal money from some of the bank accounts. Such incidents may cause severe financial loss along with customer dissatisfaction, which in turn hurts the ecommerce industry.
Again, when a bank’s website is hacked, that may not always mean that the customer data is at risk, but it cause an impression that the bank is not capable of even safeguard it’s own website. General people feel insecurity in transacting money over net.

Data theft: Data theft could be included in the security risk. But along with the data theft due to digitally compromised security, there are incidents where users themselves revealed their account details to scammers and fall into phishing trap. Such scams are operated by luring the victims and promising rewards.

Lack of skilled employees: Ecommerce is heavily dependent on technological devices and technical knowledge. But still now Bangladesh lacks in IT skilled professionals. Along with the professionals who are precisely related to IT services, employees who run day to day business operations based on the designed ecommerce service are also in need of technological understanding. Without well trained employees who handle the customers, ecommerce in Bangladesh will not flourish as expected rate.

Lack of proper marketing initiatives: As ecommerce is a relatively new dimension of business operations which includes traditional goods along with electronic goods and service delivery, the marketing of the businesses needs different approaches. Lack of proper marketing is also hindering the local ecommerce in the way of reaching developed markets like the EURO zone and the USA. Even though Bangladeshi softwares are able to compete in the international market, lack of marketing ability is putting the way back.
Again, in local market, ecommerce entrepreneurs seek for reaching more potential customers but are locked down due to lack of financially feasible and effective marketing tools.

Connectivity coverage: For a spectacular growth of ecommerce in Bangladesh connectivity is the very basic need. Without the presence of internet it is impossible to run ecommerce businesses. Even the mobile network can be used for accessing internet, due to insufficient spped, high price, unstable service, lack of compatible devices etc Bangladesh is put in the list of world’s least internet using populations by World Bank. The WB says that only 5 persons in every 1000 people in Bangladesh is actually using internet (in 2011).

Other Papers Like The Problems, Prospects and Opportunities of E-Commerce in Bangladesh

An Assessment of the Terrafugia Flying Car: Its Problems, Possibilities and Prospects

3881 words - 16 pages An Assessment of the Terrafugia Flying car: its Problems, Possibilities and Prospects An Extended Essay Presented to Mr. Edward Jay M. Quinto Mapua Institute of Technology In partial fulfilment Of the requirements in English for Acadamic Purposes 2 (ENG11) By Deina Nicole C. Fernandez Joseph Christian M. Flordeliza Anne Rose O. Galera December 2013 Acknowledgements This extended essay would not have been made possible

Security and Privacy in E-Commerce Essay

4003 words - 17 pages growth and popularity over the years, E-commerce is becoming more and more of a double-edged sword because with more convenience comes more issues of security and privacy. E-Commerce and It's Applications Before analyzing the security and privacy problems in e-commerce, we must first get an idea of what e-commerce is and of what and who is involved. According to the text, e-commerce is often confused with the term e-business (Turban &amp

Benefits and Limitations of E Commerce

992 words - 4 pages improves the brand image of the company. • E-commerce helps organization to provide better customer services. • E-Commerce helps to simplify the business processes and make them faster and efficient. • E-Commerce reduces paper work a lot. • E-Commerce increased the productivity of the organization. It supports "pull" type supply management. In "pull" type supply management, a business process starts when a request

E Commerce in India

3192 words - 13 pages -commerce market Electronic commerce has emerged as an indispensable ingredient of India’s trade facilitation policy. Since 1991, The economic reforms explicitly took place in India around 1991 which resulted in the integration of the economy with the global economy. This combined with globalization and the advent of Internet has facilitated the growth of e-commerce market all over the world. India first came into interaction with the online E-Commerce

Kudler and E-Commerce

961 words - 4 pages Kudler and E-Commerce University of Phoenix Kulder and E-Commerce The dawn of the internet brought many changes to our world. We now use the internet in almost every aspect of our daily lives and it’s only going to become more prevalent in the future. As soon as companies realized the potential for money making and increasing of their customer based, business on the internet exploded. According to the 1997 National Small

Taxation Of E-Commerce

2159 words - 9 pages "E-commerce and Sales Tax"In today's time of economic turmoil, localities are looking to untapped resources to generate revenue. One of those untapped resources is e-commerce. What the localities want to do with e-commerce is to impose a sales tax on goods purchased over the Internet. It's one of the largest growing businesses in today's modern world. If the Internet was taxed no one would want to purchase goods over the Internet and the economy

Emergence of Export-Oriented Shipbuilding Industry in Bangladesh: Current Position & Future Prospects

2514 words - 11 pages The export basket of Bangladesh is very limited where ready-made garments alone account for nearly 80 percent of its total exports. The extreme dependence of export earnings on the ready-made garments may pose serious threats in the near future. Thus, product diversification is necessary in that case shipbuilding could be a new horizon. The giant ship building nations such as Korea, Japan, China, and Vietnam have been booked with large orders

Taxation of E-Commerce & Its Challenges in India

1077 words - 5 pages presents both challenges and huge opportunities for taxation and tax administration. India has already seen transformation in its tax structure. There is a lot more to be done to make sure that Indian E-commerce is not hindered by tax related issues. Countries from all over the world should come together and form a uniform tax model for E-commerce transactions. On a larger perspective, the base of tax system should be broadened. This discussion concludes that a satisfactory answer to the challenges has not yet arisen, and the need for a different response is essential in this age of e-commerce.

Buying Behavior in E Commerce

1227 words - 5 pages Collating data from the last two decades, the advent of increased internet penetration and the technology backing the rise of the mobile industry has had a transforming effect on the way we do business and communicate. E-commerce is by far a relatively new concept. The concept has recently gained fruition owing to the major strides being made in the computer and mobile industry and need for people to be able to communicate and do trivial jobs

Security Issues and Solutions in E-Commerce Applications

2185 words - 9 pages Security Issues and Solutions in Ecommerce Applications The rise in popularity of conducting business online via ecommerce sites has not gone unnoticed by hackers and other cyber-criminals. A rise in the number of transactions and an increase in businesses that have an online presence have provided hackers with increased opportunities to exploit security vulnerabilities in ecommerce applications for personal profit, at the expense of

Bus107 Fundamentals Of E- Commerce

1326 words - 6 pages the sales fluctuates of either having too much in stock on certain items or too much of a shortage. As for opportunities, there are several factors for using e-commerce, first is you will be able to create more networks and connections, secondly you might have people that might want to get into different business ventures with you whether it’s from a small scale to large scale whether it’s through manufacturing through distribution to wholesaling

Related Essays

Prospects Of Ship Building Industry In Bangladesh Essays And Term Papers

426 words - 2 pages ,” the ambassador said. The Ambassador continues: “To our knowledge, Ananda Shipyard and Western Marine are breaking new grounds in Bangladesh in their endeavours to succeed in these projects. The orders obtained will be instrumental in bringing Bangladesh into the picture as a serious player for building ships for the international shipping market. He also added that a number of potential ship owners are watching closely the development of the

The Marketing And Supply Chain Change In E Commerce

2973 words - 12 pages , build in order to embrace the E-world as well as meet the demand of the changing market. Under the circumstance of tremendous growth in E-commerce in the fashion industry, it is right to reform the supply chain management system and apply up-to-date marketing strategies to keep the company a position in the arena. Chapters I. Introduction When people greeting each other nowadays, the conversation usually ended with “adding me in the

The Use Of E Commerce In Today's Business

980 words - 4 pages supervision company will have very good competitive ability on today’s global business market. Today it is very important to develop your business not only in the traditional “fathers” method, but try to be innovative, search for opportunities and not to be afraid of changing’s. E-business can help your business to broaden your services and make your customers feeling more comfortable. But on the other hand, like and every business it should be well

E Government In India: Opportunities And Challenges

4714 words - 19 pages Monga, A. (2008). E-government in India: Opportunities and challenges, JOAAG, Vol. 3. No. 2 E-government in India: Opportunities and challenges Anil Monga1 Abstract Public administration, governed by bureaucratic structures built on rationale principles, that dominated the twentieth century, has failed to respond to the changing requirements of the present times. E-governance, which is a paradigm shift over the traditional approaches in