Role of IT in Success or Failure of a Business

CFPBUS003 - Introduction to Information
Technology

Table of Contents
INTRODUCTION...........................................................................................................................3
Literature Review............................................................................................................................3
Role of IT in success or failure of a business..............................................................................3
Ethical and social issues..............................................................................................................4
Different types of networking technologies................................................................................5
Latest development in artificial intelligence................................................................................6
Different stages of software development...................................................................................8
Analysis and discussion...................................................................................................................9
CONCLUSION..............................................................................................................................10
REFRENCES.................................................................................................................................11

INTRODUCTION
Information technology plays a crucial role because it helps in building good
communication networks of an organisation, safeguarding data and information. It helps in
recording all the details of employees, secure information of business and help employees in
completing work on time (Ye, Zhou and Wu, 2020). Aviva insurance is a public limited
company which was founded in 2002, its headquarter is in London, England, UK. In report, role
of IT in success or failure of business is discussed. Ethical and social issues which is related with
running business and different types of networking technologies is discussed. Further, latest
development in artificial intelligence is described. Different stages of software development life
cycle are described and analysis is done to identify importance of IT.
Literature Review
Role of IT in success or failure of a business
According to (Basheer and et.al., 2019), information technology plays a crucial role in
success of business because it helps managers in making plans or strategies so that goals can be
achieved. It is essential that new techniques must be used within the organisation so that more
revenue can be generated and it will help in building good image in market. Employees are also
satisfied as they have to work less and all work is done with help of machines. It helps in making
new and innovative products to satisfy needs of customers. Managers of company are applying
information technology, making innovative products so that they can attract more people and
profit can be earned. IT helps in improving data storage and more details can be collected of
employees.
(Yoga and et.al., 2019) elucidated that, Information technology helps in faster processing
of work; employees will perform work efficiently and it lead to increase in overall efficiency of
organisation. Information technology helps in capturing wide area and information reaches to
large customers. This will improve quality and boost productivity of organisation. It increases
value of company and helps in generating more profit, plans or strategies are made by managers
of company so that they can satisfy needs of consumers and attract more customers. Information
technology plays a crucial role in success of business because it provides different ways for
growth and development of company, enhances productivity and boost confidence of employees.

When new technology is applied in organisation then burden of staff members is reduced and
they can work efficiently.
As per (Vugec and et.al., 2018) the view of, information technology has negative impact
on an organisation or it may lead to failure of a business. There are some reasons which may
affect performance of an organisation such as, strategy, leadership, marketing, finance,
operations, time of implementation and communication. In an organisation there are many issues
which may arise and affect overall productivity of company. There can be communication
problem among employees if proper structure is not made by managers. In every company it is
important that there must be proper interaction among members so that they can work efficiently
and reduce confusion or misunderstanding among employees.
According to (Al Shobaki and et.al., 2017), IT lead to failure of a business because
employees are not able to work with the latest technology and need training so that they can
work properly. It is not easy to apply new rules and regulation in company and employees need
time to understand. This requires huge investment and training should be provided to staff
members so that they can work efficiently. Managers must manage things properly; strategies
should be made after analysing market situation and improvements can be made in plans if
required so that goals can be achieved.
Ethical and social issues
As per (Trynchuk and et.al., 2019) the view of, there are some ethical and social issues
which is being faced by managers of Aviva insurance at the time of running business. Different
type of employees is being recruited in an organisation so it is difficult to manage them. There is
difference in language, culture and tradition of workers, when work is given in groups then it is
not easy for managers to handle issues among employees. Some ethical issues which are face by
managers of organisation while running company are, discrimination, health and safety issues,
leadership authority etc. In a company all employees should have equal rights, there must be no
discrimination among members on the basis of gender, caste, income, race, colour or any other
basis.
According to (Barsky, 2017), all employees should have right to speak and share their
views. This will help in growth and development of company. Another issue is health and safety,
workers should get good working environment so that they can work efficiently. It is important
to motivate employees, it will help in boosting their morale and confidence. Every employee is