Role of Information Technology in Business Success and Failure

CFPBUS003 - Introduction to
Information Technology

Abstract
Information technology is application of Technology in business organisations to create,
store and process data in electronic format. This report has discussed about information
technology and different elements of using information technology in an organisation. Role of
information technology in success and failure of business ethical and social issues associated
with running businesses and technology and different types of networking technologies along
with importance of social media in business was discussed in this report.Other than this, stages
of software development life cycle were also discussed in this report.

Table of Contents
INTRODUCTION...........................................................................................................................4
Literature Review............................................................................................................................4
Role of IT in the success or failure of a business........................................................................4
Ethical and social issues associated with running businesses.....................................................5
Different types of networking technologies................................................................................5
Importance of social media in a business....................................................................................6
Stages of software development life cycle..................................................................................7
Analysis and discussion...................................................................................................................8
Role of IT in the success or failure of a business........................................................................8
Ethical and social issues associated with running businesses.....................................................9
Different types of networking technologies..............................................................................10
Importance of social media in a business..................................................................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
Information technology can be defined as use of any computers, storage, networking and
other physical devices, infrastructure and processes for creating, processing, storage and securing
data in electronic formats. This report aims at discussing information technology in service
sector organisations. Report has contextualised Barclays British multinational investment bank
and financial services company. It was founded in 1690 and is headquartered at London,
England, UK. Important businesses of Barclays include personal banking, corporate banking,
wealth management and investment management and employ around 83500 employees to
perform different organisational operations. This report will discuss about role that Information
Technology plays in success and failure of business organisation. Later, this will also discuss
about ethical and social associated concerned with running business. Later, different types of
networking technologies will also be discussed in report and importance of social media in
business and stages of software development life cycle and will involve analysis and discussion.
Literature Review
Role of IT in the success or failure of a business
According to Dinata, 2020Information Technology is playing very important role in
success and failure of business. Information Technology has provided opportunity to business
organisation in which organisations become able to solve complex problems easily. This means
that information technology has provided tools like improved hardware and involves smart
application to solve complex problems. Information technology is also important in success of
Barclays as it allows business to make better decisions. In this information technology facilitates
market research and on the basis of this organisation can make better decisions. Information
Technology has also enhanced and improved marketing of the organisation and they are able to
connect with wider audience and require less cost for marketing and promotional activities of
organisation. As perHowell, van Beers and Doorn, 2018 Resource management is also an
important service that is facilitated by information technology within Barclays. Success of
organisations in presenttimes is significantly based on effective implementation of information
technology. Barclays provide banking services and in banking services recent developments