Bangladesh is a developing country with a huge population of 160 million in 144,000 square kilometers (55,598 square miles) needs a desperate change of its fortune by utilizing the scopes generated by the information technologies in its Small and Medium Enterprises Sector. Being an agriculture dependent country with a nominal rate of education it is really tough to gain the advantages over information technology to clear all odds in practices of modern management. Practices of management in Bangladesh in SME sector are a rare one, but to materialize the dream to prosper it is essential to change the mode of practices of management. This paper is an attempt to reveal the present status of practices of management in SME sector and the possibility of using modern management concepts in Bangladesh. For the purpose of the present study both primary and secondary sources were used. The outcome of the study reveals that due to the huge digital divide and lack of knowledge it is far cry to reach the destination of change.