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The Role of Information Technology in Financial Services

   

Added on  2020-06-06

25 Pages7059 Words131 Views
Business ResearchProject

Table of ContentsTitle:- ...............................................................................................................................................1INTRODUCTION...........................................................................................................................1P1 Research proposal which clearly define question and hypothesis with literature review.1P2 Research methods and approaches to primary and secondary research............................7TASK 2............................................................................................................................................8P3 Conduct primary and secondary research by using appropriate methods and techniques8P4 Apply appropriate analytical tools, analyse research finding and data...........................10TASK 3..........................................................................................................................................17P5 Communicate research outcomes in an appropriate manner for the intended audience.17TASK 4..........................................................................................................................................19P6 Reflection on the effectiveness of research methods and techniques.............................19P7 Determine alternative research methodologies for the project........................................19REFERENCES..............................................................................................................................20

Title:- “To identify the impact of modern technology on financial department of anorganisation: A case study on Rolls-Royce” INTRODUCTIONIntroduction of modern technology has a major impact on overall company because itaids an association in every aspect as well as supports while resolving several complex situationsbecause it acts as an obstacle for enterprise. Rolls-Royce holdings plc is a British multinationalorganisation that was incorporated in almost 2011 and owns Rolls-Royce. However, their mainobjective is to design distinct types of aircraft engines which are used by maximum number ofaviation industry as well as defence companies (George, Haas and Pentland, 2014). Thus, Rolls-Royce is one of the leading organisation at marketplace which was established to manufactureseveral equipment of aerospace in order to function it in a more appropriate manner. Therefore,in order to accomplish their business operations in the most appropriate manner, managers of anenterprise require sufficient or high amount of funds for proper running of business operations. Itmeans for handling high range of capital, an association needs to adopt various types of moderntechnology in order to overcome numerous financial issues or barriers (Rummler and Brache,2012). Capital is seen as a backbone for overall enterprise because entire business operationsdepend upon allocation of corrective amount of funds. It has been observed that management offinance team needs to acquire necessary information or data during manufacturing engines orother useful products or services in order to provide other industries. Hence, overall research isfully based on usage of modern technology at workplace and its benefits on companyperformance. Along with this, numbers of methods are used to determine the necessity ofmodern techniques while managing finance of an organisation by considering several facts orfigures. Last but not the least, managers of Rolls-Royce must use different tools or techniques forexecuting several business activities such as transactions of capital, balancing of profit or lossaccount, estimation of accurate finance and so on (Powell and DiMaggio, 2012). P1 Research proposal which clearly define question and hypothesis with literature reviewRolls-Royce is a leading association whose main objective is to offer the best orqualitative raw materials to airline industry as well as having their long term relations withdefence department. Thus, report is going to highlight the effectiveness of digital technology

which is used by company while managing their financial department (Bruton and et. al., 2015).Capital is seen as a lifeblood for overall organisation because it aids in conducting businessactivities in much appropriate manner. Thus, Rolls-Royce is focusing on their employee’senhancement in order to accomplish various business activities in much better manner (Khajeh-Hosseini, Greenwood and Sommerville, 2010). In fact, number of reasons are identified whichshows that effective financial department is very much essential. For example; it is easy to accessinformation because by using modern technology and equipment in this competitive and hightech world, it’s very easy and simple to access assorted financial data under one roof at a time.This happens because of this new technology world i.e. applications and software universe withinternet broadband. 2

Aims and objectives:Aims: - “To identify the impact of modern technology on financial department of anorganisation: A case study on Rolls-Royce” Objectives:- To identify the significance of modern techniques at workplace.To understand the necessity of advanced technology for financial department.To determine the usage of modern equipment while performing financial operations. To analyse the drawbacks of implementing modern technology at workplace.To understand the influence of digital technology on organisational performance. To identify various modern methods used by financial team of an organisation. Research questions:What are the reasons behind using modern technology at workplace?What are the benefits of using modern tools? Identify various advanced tools or techniques used by financial department?What are the drawbacks of implementing modern technology?In what ways digital technology is affecting Rolls-Royce? Gantt chart:Work breakdown structure is all about splitting various task and activities into differentsections for accomplishing it in a better way in order to attain company goals or objectives.Basically, it is very useful or suitable for research project because it aids in managing overallproject in an appropriate way by distributing workload into various sections (Grant, 2016). Onthe other hand, Gantt chart is a graphical representation of those activities which was classifiedinto several parts for completing it in a minimum time frame by considering necessary facts orfigures. Hence, both these term needs to be used by investigator team of selected firm in order toaccumulate essential information for attaining company goals or objectives (Trkman, 2010).However, main reason behind segregating the task into several sections is to minimise thechances of losses, mistakes, errors and other complications which might be occurred duringaccomplishment of this project. Hence, some of the major benefits of using work breakdownstructure and Gantt chart are expressed as follows:- Maximization in productivity: - According to this factor, it has been analysed that it isvery helpful for researcher as well as organisation which is using this information3

because splitting of task or activities aids in attaining company goals by increasing itproductivity. In fact, profit of an enterprise maximised due to minimisation of managerswork load between several employees which resulted in completion of assigned job in aless duration. Consumption of better cost and time calculation: - In fact, Gantt chart is beneficial forcompany because it will consume minimum price during implementation programmes. Identification of risk: - Distribution of job role is very much essential for companybecause it helps in determining several kinds of risk which have a major impact ondevelopment of an enterprise. However, it is indispensable to identify the invisible orvisible risk which might be occurred at workplace in order to control it as soon aspossible (Horbach, Rammer and Rennings, 2012). Literature ReviewIt can be seen that it is most necessary and useful section for research project plus it willplay a major role in carrying out various activities and functions within investigatingprogrammes towards correct result and outcome (Baker, 2012). This is used by investigator teammembers for conducting required research so that capacity of learning may be accomplished. Inthis report, content and data is collected by using secondary sources as per their simple rules thatis required for understanding. This portion of project is necessary and useful in getting accurateand brief information about elements in doing specific work. In addition to this, it can beaddressed that this will be used by learner for evaluating the topic and its advantages duringmaking accurate decisions (Camelo-Ordaz and et. al., 2011). Significance of modern techniques at workplaceAccording to Remy North (2015) implementing modern techniques at workplace hasbroaden significance, it evolves human connectivity as well as relationships. Those who are notadopting it will be in huge mess, taking an advantage of growing technology will never harm toanyone. It puts opportunities at your door. If you don't want to lose game then under takes thechance available. Here are some great utter consequences in terms of human factors andworkplace:Amend communication:It saves time to communicate, whether internally or externally.Thus, it is the simplest way to convey a message or any information among employees. In fact asper this tool an organization can easily connect any employee within organization as well as4

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