Role of Information Technology in the Success and Failure of a British Multinational Investment Bank

This report explores the role of information technology in the success and failure of a British multinational investment bank. It discusses the impact of IT on communication, customer relationship management, data handling, and new product development. It also examines the ethical and social issues arising from the use of IT in the banking sector.

CFPBUS003 - INTRODUCTION
TO INFORMATION
TECHNOLOGY

INTRODUCTION
Information technology termed out as use of storage, computers, physical devices and
processes that support to operation, collect and deal with all kind of data of
enterprise(Benckendorff, Xiang and Sheldon, 2019 ). Therefore, this is termed out as design and
execution of computer networks that mainly supports for processing and communication.
The present report is based on British multinational investment bank and this deals in
financial services of enterprise. It is entity that deals in services of banking sector.
Furthermore, report is based on to identify role of IT in success and failure of issues such
as ethical and social will be defined that pertains to running business activities. Also, significant
of internet and intranet will be explained on activities of chosen firm. Lastly, various phase of
system development life cycle will be defined.
Literature review
1.
Now a days, technology is becoming the crucial aspect that aids to streamlines the
business activities. This supports to protect financial information, private executive decision and
other kind of proprietor data that aids to increase competitive advancement. Therefore, stated
that solution of IT assist to save time, cost and creates operational process that streamlines the
activities of enterprise. Henceforth, role of IT in terms to successes and non-achievement of
enterprise such as-:
Role of IT towards success-:
 Communication- In the enterprise, communication can be defined as one of crucial term
that works towards to keeping relation between suppliers, employers and customers. In
addition to it, Logan, (2020) stated that use of IT can aids to modify the way that supports
to communicate with E-mail, social networking site and video chat rooms etc.
 Customer relationship management- The entities are using IT as this aids to improve
the design and manage the customer’s relationship within enterprise. This is tool that aids
to capture each relationship entity has its with its customers. With the use of this
advancement the officer of customer relation manager of Barclays can able to see that
what customer’s has bought by looking over shipping information, call up training
manual and by effectively responding towards the issues that impacts the working of
enterprise hugely.

 Effective in data handling- Thus, tool and advancement of IT aids to Banking sector to
maintain the data information. Additionally, Gelinas, Sutton and Federowicz, (2019)
stated that the truth and timing of data collection has become the casualties in process.
Thus, Barclays managers uses the tool of IT as this helps to keep the working streamlined
and develop process with minimal cost, time needed for the data gathering.
 Effective creation of New product development- This has become essential for bank to
vitalize the process of product development. Thus, Koong, Liu and Liu, (2020) stated
that functionaries of marketing required a lot of information not only from outside
sources but they also needed to gain some data within the banks. Barclays is looking
forward to retail section as the forthcoming market place for undertaking gross revenue
efforts.
Role of IT towards failure of business-:
 Beaches in security- If the information collected electronically, there are more
possibilities of having security breaches. Hackers targets the bank website to swipe
account information. Thus, Andersson, Titov and Carlbring, (2019) stated that
Information technology creates threat of Cyber attack as there is issue of loosing millions
of data. Therefore, advancement of IT leads to cybercriminals to bypass mechanisms of
security to reach restricted areas.
 Spyware and personal information- The common issues that can be identified is that
spyware works as to steal persona data from customers and employers. Thus, stored
information will be hacked by the fraudulent purchasers and this brings negativity
towards working enterprise.
 Increasing data regulations- Information plays the vital role within the modern world.
In today's scenario, the protecting data using this ethically can be taken as the top of
priorities to the lawmakers and regulatory authorities. Thus, Al-Somali and Baghabra,
(2019) stated that the lot of hackers and information theft affects the working of the
industry in huge aspect. Also, the banking sector must uses the standard protocol and this
is crucial for protecting the client and business information.
 Elimination of jobs- With use of execution of IT system into firm eliminates the job
opportunities for varied number of peoples. Barclays plc is continually making shift
towards to implement Information technical advancement. Thus, Sinha, Kumar and

Dwivedi, (2019) stated that paper work produced and immediate work get done with the
use of technological advancement this eliminates the opportunities for people to working
in banking sector.
2.
In the complex global business environment of 21st century, the banking institution are
facing varied range of ethical issues that impacts the working of industries widely. It has been
found out that recent economic crisis caused million of jobs losses. This has ultimate impact on
growth of profitability and productivity. As per the view of Sinha, Kumar and Dwivedi, (2019)
stated that economic performances of the country is largely determined with help of banking and
financial system. On the other hand, banking and finance plays vital role in framing out policies
of public in today's business environment.
Ethical issues termed out as the problem, situation and opportunity that needs by an
individual group to select several action that required to be evaluated as right, wrong, ethical or
unethical. Henceforth, ethical issues that widely affects the banking sector can be categorised as
honesty and fairness, fraud, conflict, discrimination and information techniques (What Are the
Benefits of the Internet to Business?, 2019). Thus, ethical and social issues arising due to use of
technical advancement. Henceforth, ethical and social issues issues pertaining to business are
outlined as-:
Social media- The widespread use of this advancement affects the working of the enterprise in
huge context. This is ethical for firm to punish the employees for they have posted for their
business at online platform.
Compliance and government issue- Enterprises are needed to be comply with environmental
laws, safety regulations and various fiscal monitoring laws etc. Due to use of IT, the number of
hackers are continually enhancing and this affects the working of enterprise. To ensure effective
working in enterprise the banking sector needs to protect their information.
Accounting issues- The falsification of financial documents puts the working of the enterprise at
the risk. However, banking sector faces this kind of issues in wider aspect. In addition to this,
deceiving shareholder and others with stake within finances is serious offences on behalf of both
ethical and judicial standards. Sometimes, Use of information technologies creates the errors and
this widely affects the working of the enterprise.

Toxic workplace culture- Working of the enterprise mainly helmed by the unethical leadership.
By use of facilitating effective workplace culture and rules the systematic working can be
conducted. To use information techniques the firm requires to have advanced employees who
can able to carry out the things systematically. Thus, better hiring of employees can aids to
mitigate this issues that affects the profitability and productivity of enterprise.
3.
Computer network is the group of computer that is linked with one another. This enables
the computer to communicate with another system. In addition to this, it can be stated that the
size of the network can be expressed with help of geographical areas and number of computers
that are act as a part of networks. This mainly done in terms to share the data, application and
resources etc. Henceforth, computer networks divided into categories as-:
Personal area network (PAN)- It is defined as computer network that is organised around an
individual person in single building (Sinha, Kumar and Dwivedi, 2019). This is generally
inclusive of mobile, computer and personal digital assistant etc. Therefore, this is the tool that
can be used to establishing better communication among the individual with personal devices.
This enables to connect with digital network and the internet. This is network that cover an area
of 30 feet. There are two kind of personal area network and these as are-:
 Wired personal area network- It is personal area network that is mainly developed with
help of using advancement as Wi-Fi, Bluetooth etc. This is defined as low range network.
 Wireless personal area network- This is defined as network that can be created with
help of using of the USB.
Thus, one of the disadvantages of using of PAN is that this establish bad connection with
other networks at some radio bands.
Local area network (LAN)- This is inclusive of computer network at the single site. It is one of
effective sharing resources and this covers data storage and printers etc. Therefore, this network
is connected within the limited area as school, home, office building etc. It is built with
inexpensive things such as network adapters, hubs and Ethernet cables etc. it is type of network
that is entirely wireless and also termed out as the wireless local area network or WLAN. It is
facility that offers the higher level of security.
Wide area network (WAN)- It is defined as the another kind of network that is significant for
computer network that spread across the large geographical area. This is termed out as the

system that use to get connect with varied smaller networks and this inclusive of Local area
network and metro area networks. The one of the effective advancement of this is that this offers
the user the ability that has ability to move around within local coverage. In addition to this,
internet is defined as the one of the biggest WAN in the world.
Metropolitan Area network (MAN)- This is defined as the network that consists of computer
network across the entire collect, city or a small region. It is larger network than the Local area
network. This is the the network that work as to connect with wide range of LAN together in
order for form the bigger network. Barclays uses this network facilities, as this facilitates
effective communication between banks. This is network that aids to covers the towns and cities
in the maximum range of 50 km.
4.
Internet is termed out as the use of series of network that is mainly owned by the two or
more enterprise. Each computer is the internet that is internet that can be identified with the
unique IP address (Benckendorff, Xiang and Sheldon, 2019 ). There are multiple users and this
offers the ultimate number of information to the users. It is set up to undertake the
communication with one another.
On the other hand, intranet is defined as the computer networking system that mainly use
to share information, collaboration tools, operational system. This is private network that
contained within business activities to securely share company information. Under this , there are
limited number of the users so this also avail limited number of information to users. Therefore,
the significance of internet and intranet outlined as-:
Significance of intranet on business-
Intranet serves the digital communication needs of the enterprise. Therefore, intranet
replace the old techniques of business solutions (Benckendorff, Xiang and Sheldon, 2019 ).
However, it creates the efficiencies within business with help of speeding up workflows and
leads to lower down the errors. Herein, the advancement of intranet as are-:
 It aids to undertake internal communication with the use of new of firm and organisation
charts.
 Offers centralize and organize company data into single data base.
Significance of internet on business-

The widespread uses of the internet within business has opened the varied new
opportunities for brand building and advertising. This provides the business an opportunities to
get reach to wider audience at global level. Also, this can be used to undertake promotional
activities in manner to enhance sales and to reach the desired level of growth. Herein, the
advancement of internet are as-:
 This leads to cost saving.
 It allows to have faster deliver processes.
 It aids to provide an opportunities to manage the business from anywhere in the world.
5.
System development Life cycle can be termed out as phases that aids to create hardware
or a combination that aids to meet or exceed customer’s expectations (Benckendorff, Xiang and
Sheldon, 2019 ). Herein, these are outlined as below contexted as-:
 Planning- It is stage that is most effective in terms to creating successful system. This
leads to define the problem and propose the alternative solution to issues.
 System analysis- This is system that aids to investigate end user requirements. It should
be determined and documented.
 System design- It is phase that comes up after understanding of needs and wants of
customer’s. It aids to identify components of system, security level, modules and
different interfaces.
 Implementation and deployment- This is stage that creates the complete understanding of
system needs and specifications. Therefore, system gets ready to deployed and installed
customer’s requirements.
 System testing and integration- At this phase, the testing needs to be performed by team
of specialised individuals. It can be systematic and automatic to ensure that actual
outcomes can be achieved effectively.
 System maintenance- in order to undertake the better maintenance the periodic
maintenance musty be conducted to make sure that performance evaluation conducting
effectively.
Analysis and discussion
As per the above findings, this can be sated that information technology drives the
innovation and this leads to undertake path towards business success. This helps the banking

sector to assist organisation to manage and conducts work practices in more efficient manner.
Also, IT has assisted the banking industry to deal with wide range of challenges in terms to new
economy poses. With the use of technical advancement the bank can able to reach out more
customers and offer best services to them.
CONCLUSION
Hereby, this can be concluded that information technology termed out as system that has
effective use of computers in terms to store, retrieve, transmit and manipulates the information.
This is mainly used to undertake development, maintenance and have the effective use of
software system. The present report has covered the business activities of Barclays, this is
financial institution that renders the banking services to customers.
Furthermore, study has laid emphasise on activities as to undertake indemnification on
role of IT in success and failure of organisation. Herein, various social and ethical issues has
been defined that impacts the working of enterprise. Also, use of internet and intranet and their
significance has been defined on the business activities of chosen firm. Lastly, system
development life cycle has been defined to identify their effective uses.

REFERENCES
Books and journals
Benckendorff, P.J., Xiang, Z. and Sheldon, P.J., 2019. Tourism information technology. Cabi.
Logan, P.Y., 2020. Crafting an undergraduate information security emphasis within information
technology. Journal of Information Systems Education. 13(3). p.3.
Gelinas, U.J., Sutton Jr, S.G. and Federowicz, J., 2019. Business processes and information
technology.
Koong, K.S., Liu, L.C. and Liu, X., 2020. A study of the demand for information technology
professionals in selected internet job portals. Journal of Information Systems Education.
13(1). p.4.
Andersson, G., Titov, N. and Carlbring, P., 2019. Internet‐delivered psychological treatments:
from innovation to implementation. World Psychiatry. 18(1). pp.20-28.
Al-Somali, S.A. and Baghabra, H., 2019. Investigating the Determinants of IT Professionals'
Intention to Use Cloud-Based Applications and Solutions: An Extension of the Technology
Acceptance. In Cloud Security: Concepts, Methodologies, Tools, and Applications (pp.
2039-2058). IGI Global.
Sinha, A., Kumar, P. and Dwivedi, Y.K., 2019. Impact of internet of things (IoT) in disaster
management: a task-technology fit perspective. Annals of Operations Research. 283(1-2).
pp.759-794.
Online
What Are the Benefits of the Internet to Business?. 2019. [Online]. Available through:
<https://smallbusiness.chron.com/benefits-internet-business-316.html>
1