Assignment on E- commerce - Essay Example

I hope this assignment will help the banking sector o gather some insights on the widows to do further studies in this aspect. I would like to convey my tributes to you and thank you for giving me the opportunity to work on this topic. Your queries In this aspect will highly be expected. Thank you Sincerely your Amid Kumar dye ID: 1101010174 Section: D 7th Semester (27th Batch) ABA Program Department of Business Administration Dedication In dedication to all my friends and family who help me find happy monuments every day to celebrate “E-commerce system”. A closer study “under the supervision of Mr..

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Md. Raunchily Amah Lecturer of MIS, Leading University Sylphs, Bangladesh . Any duplication is prohibited without the permission of author Acknowledgement First of all pay a special thanks to my almighty God. Who made me able to complete this report? Then I would like to give thanks to renowned philanthropist Mr.. Raging Ail as he established Leading University and we got this opportunity to read here, after wards. I would like express my heartfelt gratitude to Proof DRP. Mr. . Basher Aimed Bunyan, Head of the Department of business Administration, Leading University Sylphs.

I would like to thanks our course instructor Mr.. Md. Airmail Amah, respected Lecturer of Leading University for giving me this chance to make an assignment. My thanks also goes to my family members and friends who are cooperated with me at hesitation and make them safes an important part of this Job. Author Letter of Acceptance This is to certify that Amid Kumar dye ,ID: 1101010174 Section: D Semester:thank 27- Batch, Department of Business Administration , Leading University , Sylphs , Bangladesh has completed his assignment work entitled on ” E-commerce system. “A closer study under my supervision.

He has completed his work with sincerity, commitment and dedication. He discussed different issues and problems with me to meet the requirement of this study and preparing the assignment. I wish all the best in his effort. Mr.. Md. Raunchily Amah Lecturer of MIS. Leading University, Sylphs, Bangladesh. Abstract Commerce (Sometimes called web- based) commerce is the term used to describe the activity of doing business on the internet. It including business to business, business to consumer and even consumer to consumer transactions that involve the exchange of ideas.

Commerce including functions such as marketing manufacturing, finance, selling and negotiations. Commerce is not as new concept in Bangladesh any more, commerce that started its Journey in Bangladesh in the last ass and since then it continued to grow. This study concentrates on assessing the elements of the environment relation to commerce to get the best picture of the prevailing condition and then recommending some areas of improvement on the basis of the assessment for deploying commerce in Bangladesh. Chapter- one 1. Introduction. 1. E-commerce: Electronic commerce or commerce is a term for any type of business, or commercial transaction that involves the transfer of information across the internet. It covers range of different types of businesses, from consumer based retail sites, through auction or music sites, to business exchanges trading goods and services between corporations. It is currently one of the most important aspects of the internet to emerge. Commerce allows consumers to electronically exchange goods and services with no barriers of time or distance.

Electronic commerce has expanded rapidly over the past five years and is predicted to continue at this rate, or even accelerate. In the near future the boundaries between “conventional” and “electronic “commerce will come increasingly blurred as more and more businesses move sections of their operations onto the internet. Since the sass, with the breakthrough of network, communications and IT, the Internet had a global growth and rapidly became popular. And e-commerce was born.

E-commerce is a new business model based on the Internet with two transacting parties, bank electronic payment and settlement as means and customer data as support, which can make buyers and suppliers more closely linked, and meet customers’ demand faster, and also allows buyer to choose the best suppliers in the lobar market and sell their products worldwide. Since “electronic commerce” minion, e-commerce all around the world was developing rapidly that the transactions doubles in about every nine months. The global e-commerce transactions (including online trade, sales, etc. Reach hundreds of billions dollars, and e-commerce revenue has soared by 262 percent. Countries all over the world have a very positive attitude to e-commerce- the new continent. They generally consider the development of electronic commerce an important driver of world economic development in the next 25 years. The promotion effect to the economy will be far more than the Industrial Revolution 200 years ago. Well-known network economic researcher and critic Robert Metcalf claimed that: “The value of the Internet is equal to the square of the number of outlets (linking with it).

Currently, the online shops are booming and constantly improved. Types of products sold online are diversity. Drugs once thought impossible for buying and selling have become a reality. Representative one is Canada Pharmacy. Even some people sell their time online. They do things for people who are too busy and get money from them. . 2 Objectives of the studs To identify prospect of e commerce system in Bangladesh To provide precise knowledge of e commerce and its infrastructure. To narrate the present scenario of e commerce in Bangladesh To identify the usage rate and satisfaction level of e commerce customers.

To highlight some recommendations for rendering e commerce services effectively. 1. 3 Scope of the study The scope of the study is limited to the issues related to the commerce in Bangladesh. The assignment will focus only on the business locality provider of the country through internet network system. . 4 Limitations of the study Due to time constraints the study has been conducted only one commerce service on secondary information. A microscopic analysis (aggregate analysis) has been made here for the unavailability of appropriate data in some cases.

To prepare this assignment I have faced a lot of problems such as unavailability of lab, electricity problem, unavailability of related book and Journals lock of time, unavailability of information in net etc. 1. 5 Methodology of the study The assignment has been done mainly based on secondary sources of data or information secondary data has been collected from different publication material and Web site as well as the book and material from different libraries the hand not of the various seminars 1. Literature Review Turncoats and Flincher’s Theory The best literature for this is from Doormat’s and Flincher’s theory. The Turncoats and Flincher’s theory comprises two important foundations stages in e commerce factors of the adoption and implementation of e commerce in Seems. According to Jennet and lowercasing who used Attractor and Flincher’s model, the reliability f this foundation will directly impact the ability of Seems to implement e commerce. Chapter Two 2.

General context of the study With the increasing diffusion of ACTS, more specifically the internet, the global commerce. The abusers importer gain a clear advantage when the internet gives them access to the global market, by which they can compare price across regions, find out whether price very 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 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 in the competition against exporters in other countries.

In such a scenario two issues are becoming particularly important for Bangladesh export sectors one whether business are automating their internal processes with the use of ACTS to come increasingly efficient and competitive in a global content and two whether business have efficient and competitive in a global context and two whether businesses have effective presence and participation in the cyber world. 2. 2. E commerce in different sector in Bangladesh Despite being a under developed country selected segment of the Bangladesh business community has embraced technology with reasonable success, personal computer and the internet are also emerging as day to day business tolls These positive indicators are levering the prospect of e commerce in Bangladesh. ARM Sector . Banking on the web (online bank). Online shopping. Web hosting, domain. Online cards, gifts. Pay Bill. Education. 2. 2 Some e commerce shop in Bangladesh www. Web Bangladesh. Com. Www. Hoot bazaar. Com. Www. Number shop. Com. Www. Batter. Mom www. Compartmental. Com. Www. Euphoria. Com. Www. Budget. Com. Www. Cellarer. Com. 2. 3 The impact of e commerce E commerce can transform the way products and service one created sold and with its partners. The following are well established benefits of e commerce. Improved productivity : Using e commerce the time required to create, transfer and recess a business transaction between trading partners is significantly reduced of data entry and recently in the process. This improvement in speed and accuracy plus the access to document and information will result in increase in productivity.

Cost savings: The cost savings stem from efficient communication, Quicker turnaround and closer access to market. Better customer service: customer can enjoy the convenience of shopping at any hour and anywhere in the world. Opportunities for new business: Business over the inter net have global customer reach. There are endless capabilities for business to exploit and expand their customer base. 2. 4 challenges of e commerce for Bangladesh Network Infrastructure. Intra bank and interbrain connectivity. Local and global. Bank client connectivity. Security of transaction. Banking mechanism Automation Convertibility of the Bangladesh currency.

Retention quota. International credit cards. Capacity building: Human. Technical and Regulatory. Quick settlement, online credit information. Skilled e manpower. Investment Legal infrastructure. Currency convertibility: Access to global finance. 2. 5 Akin. Com Akin offers discounts up to inn Dacha city on popular business like dining, Travel, Entertainment, Movies, Soap, Healthcare service, Fitness centers, Beauty parlors and lot more Akin. Com is a website that brought a new horizon in the e commerce industry of Bangladesh. Unlike the other business websites, it does not sell/ buy or act as a third party between two people.

The customer can use the coupons published on this website and based on the amount of discount can save lots of money while purchasing the particular product from the particular shop. How it works: up with Akin. Com. O get crazy discount notifications right in your email inbox. Step two: Buy and receive coupon to purchase a deal, click on view details and buy/ buy now button. Instant pay option: safely pay with you visa/ Master card/DOBB, Nexus card and from mobile phone through bash. Pay on coupon delivery option: Click pay as on coupon delivery if you want to pay later.

Collect from Akin. Com office: 8, Goulash, South, Avenue, unite-53 Goulash-l Dacha-1212. Step three: show your coupon to the merchant at his/her other and enjoy the discount. SOOT Analysis Strength 1. Anew concept in there commerce industry of Bangladesh. . Very few on no competitor at all. Weakness 1. Based on Dacha city mostly. 2. The coupons given are of limited merchant that means this website does not cover the entire premises of consumer choice. Opportunity 1. Since the concept is new and Lucrative, the website has bright future through Jot the country. 2.

In future, this website may include the merchants of different other fields like FMC, cloths, Foods etc. Threat: 1. Since the market has no competition any day new entrants may come up with new offers. 2. Discount packages of mobile phone companies (GAP Thank you) can be a threat. 2. Advantages of Commerce Faster buying/selling procedure, as well as easy to find products. Selling 2417. Buying/ More reach to customers, there is no theoretical geographic limitations. Low operational costs and better quality of services. No need of physical company set-ups. Easy to start and manage a business.

Customers can easily select products from different providers without moving around physically. 2. 7 Disadvantages of Commerce Any one, good or bad, can easily start a business. And there are many bad sites which eat up customers’ money. There is no guarantee of product quality. Mechanical failures can cause unpredictable effects on the total processes. As there is minimum chance of direct customer to company interactions, customer loyalty is always on a check. There are many hackers who look for opportunities, and thus an commerce site, service, payment gateways, all are always prone to attack. Chapter three 3. Methodology of the study 3. Site Selection: The topic chosen for the assignment is “e commerce system. ” 3. 4 Site Design: I work with non-government sector and also include government sector. 3. 5 Country Map: from secondary sure. 3. Data Analysis: I use Microsoft word and Microsoft power point to prepare this assignment. Chapter four 4. Result and Discussion Bangladesh has recently entered into the world of e-commerce. Bangladesh Bank (B) opened up the e-commerce transactions in the net in 2009. Subsequently Dutch- Bangle Bank Limited (DB) has launched Internet Payment Gateway (PIG) in the name of Nexus-Gateway in June, 2010 and BRAG Bank in December, 2010.

Meantime, a few e-merchants have developed their web-sites and linked with the PIG of the banks. The complete Journey of e-commerce has four steps. These include the go- head signal of the central bank, launching internet payment gateway (PIG) by commercial banks after obtaining go ahead signal of the central bank, development of appropriate website by e-merchants to display and sale their products and services, and buying of goods and services by the customers from the e-merchants.

The merchant commission ? a fee to be paid by the merchant to the bank in percentage of the sale value ? is higher for e-commerce transaction than that of the POS transaction. The e-merchant also needs to pay a fee to the owner of the web portal if the website is not owned by him. On the other hand, an e-merchant does not quire establishing shops at the prominent and costly locations of a city; they only have to maintain warehouses in various low cost locations from where they can deliver goods to the different parts of the city / country easily with minimum transportation cost.

The ultimate result is: the e-commerce players are at a competitive advantage to retailers. They have lower operating expenses and better inventory management due to operating in a virtual commerce environment. For example, Amazon. Com has revenue per employee of nearly $kick while its retail counterpart, Best Buy, generates revenue per employee of only $kick.