Strength & Weakness of E-Commerce in Bangladesh

In: Business and Management

Submitted By munni
Words 4033
Pages 17
Globalization has brought in many changes in the business scenario with the whole world inching towards a big market place. Communication between buyers and sellers become critical as each can opt to explore a greater number of alternatives than before. E-commerce through the use of internet, e-mails, websites and other facilities enables a businessman to be linked with every corner of the world and thus opens up greater opportunities in the world market. As a signatory of WTO practices Bangladesh has accepted The Code of Good Practices of WTO agreement on Technical Barriers to Trade. E-commerce facilitates the very process of International transactions; this involves securing and finalizing a contract, delivery of a product and finally payment for the performance of the product. The movement of goods and services and payment mechanism within a country and outside of a country is governed by regulatory and legal issues. Though Bangladesh Govt. has a strategic vision and policy framework to boost up e-commerce, a lot of factors are also hindering the way of doing E-commerce.

Definition of 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:

• Electronic Data Interchange (EDI). • Electronic mail (E-mail). • World Wide Web (WWW). • Internet Applications. • Network Applications.
Basically e-commerce involves the sale or purchase of goods or services over computer mediated networks. These goods or services may be ordered though 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 (buzzword) to refer…...

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