Impact of Information Technology on Business: A Case Study of Barclays Bank

This report discusses the impact of information technology on business with a case study of Barclays Bank. It covers different software applications that can be used by businesses, social and ethical issues in the digital world, and the role of ICT in making businesses more efficient and effective. The report also discusses the functions of IT in managing businesses and supporting managers.

Introduction to
Information
Technology
1

Table of Contents
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
Explain about dissimilar kinds of software application that can be utilised through the
business...................................................................................................................................4
Discuss the ethical and social issues which are important into increased manner in the world
of digitalisation. Identify and discuss the importance of them to run the business................6
ICT makes the business more efficient and effective into the context of response towards
customers requirements. Explain about the ICT impact on business.....................................8
Explain about the functions of IT for managing business in terms of supporting managers 10
REFERENCES..............................................................................................................................13
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Executive Eummary
The overall report covers discussion about the information and communication technology and
their related parameters as well. The report basically consist of of software application that can
be utilised by the business. The report also consist of social and ethical issues which are very
important in this digital world. The report will cover analysis about information and
communication technology that makes the business more efficient and effective in terms of
requirements of customers. At the end, report will be summarised with the role of IT in terms of
helping managers to manage the business.
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INTRODUCTION
IT refers to the use of computers in order to process, create, retrieve, store and exchange
the all kinds of electronic information and data as well. Information technology is typically used
in operation context of business as opposed to entertainment technologies or personal level. IT is
important because it supports into the context of growth of commerce and creating the business
sector and also generate the possible output at maximum level. In the present report, Barclays
bank is taken into consideration(Choi and Lim., 2016). Barclays plc is a multinational British
universal bank which is headquartered in London, England. The report consist of dissimilar types
of software application that can be utilised by the business. The present report will cover
discussion about ethical and social issues which are very important in this digital world. The
report will cover discussion about ICT which makes the business more efficient and effective
into the context of needs of customers. The report also consist of the role of IT in terms of
helping managers to manage the business.
MAIN BODY
Literature Review
Explain about different kinds of software application that can be utilised through the business
According to Nicky laMarco(2022), There are different kinds of software application that
could be used by the businesses which is explained into the following manner:
 Communication Software: This is a software which help in terms of exchanging data
into adequate manner and companies also make sure that communication is streamlined
in all the departments and locations as well. It is a commonly used software which is used
to enhance the information sharing both at internal and external level(Dutta and et.al.,
2015). It has been observed that organisations can also use system integrator of cloud-
based which connects to all the software into existing manner. It basically creates a base
of data into centralised manner which gives permission to users of verified manner to
have an access of reports at any period of time and also work into seamless manner with
other departments.
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 Demand Forecasting Software: This is a software which is integrated with inventory
stems and POS as well where they can swift through real-time and historical and also
stock data for projecting the future customers demand(List of Commonly Used Business
Software,2022). In order to provide the actionable insights the data can be automatically
generated and consolidated into analysis reports. With support of forecasting,
organisations can prepare for dives in demand and spikes through proper management of
inventory.
 Reservation Software: With support of reservation system of cloud computing, there are
certain kinds of businesses that are based on appointmet such as medical offices, salons
and restaurants which can consolidate online reservations and in-person (Hao and Song.,
2016).Through appointments of integrated manner from all the platforms, companies can
prevent overbooking clients and understaffing shifts which hinders the customers loyalty
and satisfaction as well.
 Linux Software: It is a software which is used as an embedded operating system for
different kinds of applications which includes automotive entertainment systems,
household appliances and network file system appliances. It is basically a family of open
source Unix-like operating systems which is based on the Linux Kernel.
 Resource management application software: It is a software which act as tool which is
used to manage the human capital and schedule of an organisation as well. It is a resource
planning tool which will help an individual in terms of allocating and assigning people to
projects wherever it is required.
 Productivity Software: It is a software which is the category of programs of application
which help users in terms of producing things such as databases, documents. It is that
application software which is used for producing information and their name has arises
from increment into the productivity especially of individual office workers. There are
certain examples of productivity software which includes Todoist, GSuite and Zapier.
 Business process management application software: It is a kind of business tool which
helps the company in terms of dealing with problems which is related to inadequate
services, errors and miscommunication into the proper manner through undertaking
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methodological approach for enhancing the process of business (Hawkridge., 2022). The
main aim of the software of business software is to optimise the workflow in such a
manner that supports in terms of achieving objectives of business in the most efficient
and effective manner.
 Project management application software: It is a kind of software business that help
the firms of business into planning in effective manner, carry and arrange off tools of
resource for developing the predictions of resoure into correct manner. This type of
software application support the company and their related stakeholders for managing the
expenses of project and cost has been regulated into effective manner.
In context to Barclays bank, they have use Linux software as the main operating system and
bank has chosen this software because it is cheaper and easy in terms of use by the employees of
Barclay’s. They have also declared that bank cut its software development up to 90 percent
because through the use of Linux it reduces the reliance on the operating systems from suppliers
such as Microsoft and Oracle and the license fees which is required for the use(Meloncon and
Frost., 2015).These are the software which is used by the businesses into positive manner for the
further growth and development of the organisation.
Discuss the ethical and social issues which are important into increased manner in the world of
digitalisation. Identify and discuss the importance of them to run the business
According to Kate Gromova(2022), There are certain social and ethical issues which are
significant in this world of digitalisation and it is explained into the following way:
Social Issues: These are the issues which can affects many number of people into the society and
also a group of common problems which is present into the society and ones there are many
people who strives to solve. In this digital world, problem of cyber bullying has been increasing
on a very fast pace manner (Howell and et.al., 2018). Cyber bullying is basically the teaching
and learning with technology which act as an incident when cell phones, internet or other devices
which is used to post text or send images which is intended to hurt someone or to embarrass
another person. The digital divide is also a problem which act as gap between those who have
already access to and knowledge of digital technologies and those who also don’t have.
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There are certain issues at social level within banking which includes sustainable banking
practice, environmental regulation, sustainable consumption, ethical banking practice, social
banking practice and social responsibility and banking(Ethics in the digital world: Where we are
now and what’s next,2022). In context to social issues of Barclays Bank, there are certain
practices which remain into inconsistent manner and also have frequent changes into the rules
according to the requirement of situations and conditions. There are certain services which can
only be served into local language
Ethical Issues: These are the issue which has occurred when the given decision, scenario
or activity creates a conflict within the moral principles of society. It has been observed that
businesses and individuals both are involved in these kind of conflicts since any kind of activities
can put a question from the ethical point of view. There are certain ethical issues within the
business which includes discrimination, harassment, unethical accounting, health and safety,
abusement of leadership authority, corporate espionage and privacy(Lai., 2017). These issues are
very serious which has happened at the organisational level. In this competitive world, there are
many businesses who are facing the discrimination issues where people have worked from
diverse work force and this has occurred due to unequal treatment at the organisational level.
Harassment basically includes racism or sexism and it can be in the form of verbal abuse, teasing
and bullying.
At the organisational level, there are certain organisation who follow unethical practices
of accounting in order to earn profits into unethical manner. If organisation do not gives
assurance about the safety and security of the organisation and its related employees then it
becomes difficult for employees to work into positive manner (Lui and et.al., 2016). Leadership
is very important at the organisational level and their team members do not follow them into
appropriate manner then it becomes impossible to achieve objectives and aims of the
organisation into positive manner. In context to Barclays bank, this is not an ethical bank which
has indulged in terms of indigenous rights violation where there are may projects of Barclays
which are linked with huma rights abuses into serious manner.
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Ethical and social issues are very significant in terms of running the business into
appropriate manner. Due to social issues, it affects the business through the buying habits,
lifestyle, education level, religion and beliefs and emphasis on safety(Ivanov and et.al., 2018). If
social issues can’t be resolved into positive manner at the organisational level then it affects the
business into negative manner. The significance of ethical issues also plays a very important role
into the context of running the business into positive manner. Business ethics is very important
because it enhances the law which outlines the behaviour into acceptable manner which beyond
the control of government. If these issues has not been resolved into appropriate manner then it is
difficult to do the work into effective manner. So its very important to solve these issues into
positive manner for further growth and development of the bank.
Analysis and discussion
ICT makes the busines more efficient and effective into the context of response towards
customers requirements. Explain about the ICT impact on business
In this digital world, communication and information technology plays an important role
into the context of fulfilling the requirements of customers into positive manner. Communication
and information technology which refers to the diverse set of resources and technological tools
which is used to create, store, share and also exchanges the information as well(Madon and
Krishna., 2018). These communication technologies are the process to create and act as
infrastructure which echanges different forms of data at electronic level. Communication and
information technology is very significant in this challenging and fast environment because it
help in terms of building and growing the commerce. ICT makes the business more efficient,
effective and result oriented due to which it positively respond towards the customers needs.
Information and communication technology assist the business in such a manner that it includes
manufacturing, design, research and development, distribution and sales and feedback. The
organisation who are using technology of communication can utilise into the form of process of
internal level in terms of optimiing and streamlining optimizing them as well. With the help of
information and communication technology, services can be delivered into more effective
manner.
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In context to Barclays bank, the use of information and communication technology not
only makes the process faster and smoother but also contribute in terms of qualitative services to
the organisation. With support of information and communication technology they can
communicate into different department with effective manner (Raman., 2015).Through support
of emails, video conferences they can make the process smoother and can reduce time from the
perspective of long term procedure. Information and communication technology also help in
terms of building the strong image of the bank and they can connect every kind of people
anywhere into the world. They also provide their services and information through different kind
of social media platforms. In today’s period of time, social media platforms act as a main role in
terms of bringing the business and large amount of profits for the organisation. The coordination
between different departments has been done through support of information and communication
technology within the Barclays Bank. According to changing period of time, technologies have
been changing on the fast pace manner so with the adoption of new technologies bank get more
awareness in this aspect and they make improvement into their way of working.
With support of information and technology it is easier to analyse the data into effective
manner and result oriented way as well. When new technologies have been installed into the
Barclays bank then it gives the competitive edge to the business for further growth and
development. The main impact of information and communication technology on the business is
that they execute the tasks into effective manner. It help in terms of satisfying the customers into
positive manner. Information and communication technology contribute in terms of enhancing
the business process and also take managerial decision making into effective manner
(Romashkova and et.al., 2018). It also contribute in terms of workgroup collaborations that
strengthens their competitive positions in this rapid changes. With support of information and
communication technology Barclays Bank have strengthen their internal control systems.
Advances in technology also allows the banking sector for the delivery of banking products and
services into more convenient manner.
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Communication and information technology basically also includes electronic databases
and Web portals, management systems of composite information which seeks in terms of
improving the efficiency between government and bank as well. The support system of
communication and information technology also provides stimulus growth at the economic level
where bank has establish themselves. In this manner, information and communication
technology has made the business more effective and efficient as well(Rossanty and PUTRA
NASUTION., 2018). The impact of information and communication technology on the bank has
created a very large difference in terms of the working of the bank. So in today’s period of time
information and communication technology is very important within the business due to which
they become faster in terms of providing results to their customers into positive manner.
Explain about the functions of IT for managing business in terms of supporting managers
With the introduction of information technology it has greatly impact the managers
working and also help the managers to effectively manage their way of working of the business.
The information technology has bring new and modern technologies for the channels of
communication by which managers have an interaction into effective manner with their members
of team so that it help in terms of minimising the resources and time. In context to Barclays Plc
Bank, the applications of IT supports the Managers of IT of the company to confidently secure
their information into confidential manner with support of software of antivirus level. With the
support of software of antivirus it act as support system for the firm for protecting the
information from the eploitation of hacker. The role of IT in supporting managers for managing
the business is explained into the following manner:
Enhancement in communication at the organisational level: With support of information
technologies gives the opportunity to manager to communicate with employees into effective
manner that are working into areas of remote level. The manager basically undertakes the
support system of dissimilar platforms of communication like video conferences and
email(Salahshour Rad and et.al., 2018). It can be Skype applications as well. The productivity
levels of the bank get enhanced through effective communication among team members of the
organisation.
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Daily operations into effective manner: The information technology is very critical for an
organisation for improving and enhancingthe operation that leads towards accomplishmet of
tasks into fast and cheap manner(Schwalbe., 2015).The daily operations of the company has
effectively and efficiently manage through the support system of software named as ERP that
supports the manager to do their work. In context to Barclays bank, There are certain software
of managemet of customer relationship which contributes the maager into the context of
enhancing sales at service level due to enhanced knowledge about customers requirements and
needs.
External operations expansion: The information technology also gives the opportunity to
manager to effectively tap into the market of foreign with support of websites of multiple
language multi language websites or also takes the support system of platforms at social media
level. In context to Barclays bank, it also supports the manager in terms of attracting global
customers into more effective manner (Shaitura and et.al., 2016). It also help the manager in
terms of finding the external opportunities and can also increases the knowledge and skills as
well. So its very important to have information technology at the organisational level so that
results can be achieved into effective manner.
In this way, in context to Barclays bank IT help the managers to do the business into
result oriented and effective manner. For making the operations of technical parameter more
smoother, IT act a the base for it. Within a set period of time, it is very challenging for a
Manager to deliver their services without support system of information technology. Information
technology act as positive aspect in terms of making the process more smoother for the manager
but also save time of a manager as well. The manager can easily maintain the organization into
effective manner with support system of information technology and also deliver tasks of each
department without any kind of delay in their work(Arner., Barberis and Buckley., 2015). For
making the services more smoother, information technology is very significant for the business.
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CONCLUSION
It has been concluded that communication and information technology are very important
into the context of doing business into result oriented manner. There are different kinds of
softwares which act as support system in terms of doing the tasks into more effective manner. It
has been observed that there are different kinds of social and ethical issuesthat are signidficant
into the context of its solutions. If these issues can’t be resolved into set period of time then it
becomes difficult to run the business into smoother manner while maintaining a strong image
into the market. It has been determined that with support of information and communication
technology the business can be run into more efficient and effective manner. It has been analyzed
that the impact of information and communication technology has created the differences in
terms of its performance into the business. The role information technology is also very
significant in terms of managing the business by the managers into effective manner. So it has
been observed at organizational level to do the business into effective manner it is important to
have support system of new technologies and apps as well.
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REFERENCES
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Yeh and et.al., 2015. Using a technology-organization-environment framework to investigate the
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Online
List of Commonly Used Business Software,2022 [Online] Available
through:<https://smallbusiness.chron.com/list-commonly-used-business-software-59849.html/>
Ethics in the digital world: Where we are now and what’s next,2022 [Online] Available
thtrough:<https://blogs.worldbank.org/opendata/ethics-digital-world-where-we-are-now-and-
whats-next/>
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