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With the increasing diffusion of ICTs, more specifically the Internet, the global business
community is rapidly moving towards Business-to-Business(B2B) e-Commerce. The
buyers/ importers gain a clear advantage when the Internet gives them access to the
global market, by which they can compare prices across regions, find out whether
prices vary by order fragmentation, get awareness about substitute/ alternative
products. Consequently, the sellers/ exporters make sure that they are well portrayed in
the cyber world through websites and portals. Like buyers, sellers also benefit from
increased and more efficient access to the global market through the Internet.
Bangladesh is pursuing an economic policy of export-led growth. With the rising forces
of globalization, it is becoming increasingly important that the private sector, particularly
the export sectors are well prepared to meet the requirements and expectations of the
importers and also stand out in the competition against exporters in other countries.
Dimensions of E-Commerce
The three dimensions of e-commerce are:
Business-to-Consumers (B2C)
Business-to-Business (B2B)
Business-to-Government (B2G)
Consumer to consumer (C2C)
B2C e-commerce is unlikely to be of much use in the near future in Bangladesh
because of low per capita income, a weak infrastructural and legal environment, lack of
trust between business and consumers. B2C for cross border trade is also limited by the
factors suggested for the domestic front. In addition, non-availability of international
credit cards, foreign currency remittance restrictions, delays and informal payments at
customs clearance even for small value and quantity items will discourage B2C.
Benefits of E-Commerce
The benefits of e-Commerce are many and many. Some of them include:
E-Commerce in Different Sector in Bangladesh
Despite being a under developed country, selected segments of the Bangladeshi
business community has embraced technology with reasonable success. The Facsimile
in the 1980‟s and mobile telephones in the 1990‟spopularized modern technology in the
mass market. Personal computers and the Internet are also emerging as day-to-day
business tools. These positive indicators are favoring the prospects of e-commerce in
Bangladesh.
RMG Sector
Banking on the Web (Online Banking)
Online Shopping
Web Hosting, Domain
Online cards, gifts
Pay Bill
Education
Etc.
Recommendations
The assessment of the e-commerce environmental forces of Bangladesh leave us
some room to recommend some steps and measures, that should be undertaken by the
policy makers and business stake holders for the full fledged implementation and
development of e-commerce in Bangladesh. The recommendations are:
There should be an EFT (Electronic Fund Transfer) Gateway, which will connect
all finance and banking institutions, ATMs, POS and related websites. Such
Gateway will speed up the transactions among banks, commercial institutions.
This sort of infrastructure needs to be implemented on priority basis.
A CCG (Credit Card Gateway) should be established. A credit card gateway is a
server that makes online credit card transactions safe(Skinner, 2005). The
software protocols in the CCG use the information provided to check for
availability of funds and to make sure the credit card is not expired, lost or stolen.
This takes only seconds. When the transaction is approved a receipt is
generated for the customer, and the funds are transferred to the vendor's bank
account through EFT.
Unlicensed radio frequencies should be made available on demand and VSAT
operating licenses should not limit the bandwidth.
To improve banking mechanism, Bangladesh government should compel the
banking sectors to automate their operation and going online by a specific period.
The control of foreign exchange should be liberalized gradually, and easier
issuance of International Credit Cards should be allowed, banks should take
effective steps here.
Business associations and organizations should be made aware of the benefits
of e-commerce. Business organizations like FBCCI, DCCI, MCCI, and BGMEA
can play a significant role in promoting e-commerce in Bangladesh.
Political commitment to improve governance and institutional strength is essential
for successful application of e-commerce.
Last but not least, National ICT policy, 2002 and enactment of the ICT Act, 2005
is required to enhance the implementation of e-commerce.
CONCLUSION
A key reason why e-commerce, especially the business-to-business segment, is
growing so quickly is its significant impact on costs associated with inventories, sales
execution, procurement, intangibles like banking, and distribution costs. If these
reductions become pervasive, e-commerce has the potential to be the application that
ushers in the large productivity gains .Achieving these gains is therefore contingent on a
number of factors, including access to e-commerce systems and the needed skills.
However, what is unique about ecommerce over the Internet and the efficiency gains is
that it promises the premium placed on openness. To reap the potential cost savings
fully, firms must be willing to open up their internal systems to suppliers and customers.
This raises policy issues concerning security and potential anti competitive effects as
firms integrate their operations more closely.
REFERENCES
http://www.manufacturingnews.com/news/editorials/cohen.html
http://www.businessweek.com/the_thread/economicsunbound/archives/2008/06/the_im
portance.html
http://www.med.govt.nz/templates/MultipageDocumentPage____16344.aspx
http://www.cid.harvard.edu/cidtrade/issues/ecommerce.html
http://en.wikipedia.org/wiki/Ecommerce
http://www.google.com.bd/