Role of Information Technology in Businesses: A Case Study of HSBC Bank
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This report discusses the role of information technology in businesses with a case study of HSBC Bank. It covers social and ethical issues, networking technologies, artificial intelligence, and software development lifecycle.
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ABSTRACT Information technology (IT) is helpful to maintain & retrieve the specific information & data through computers & other electronic gadgets. In this modern generation, information technology playing an essential role in various field like businesses, foundations, corporation & institutions. Information technology is beneficial to maintain each & every activities of the individuals and make their life more suitable and convenient. It is necessary for the people & organization, to address all the issues so that companies can effectively maintain it is a consideration. There is involvement of numerous kinds of networking technologies such as LAN, WAN & MAN which are helpful to transferring the specific information with proper range on particular areas. This report discuss about artificial intelligence and how it is important to maintain the information technology for the development of the businesses. This report also determined software development life cycle and discuss various stages which can useful to maintain the specific software applications. .
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Table of Contents ABSTRACT................................................................................................................................................2 INTRODUCTION.......................................................................................................................................4 LITERATURE REVIEW............................................................................................................................4 ANALYSIS AND DISCUSSION...............................................................................................................5 Role of Information technology in the success of business......................................................................5 Ethical & social issues that pertain to the information technology..........................................................6 Various types of networking technologies.............................................................................................7 Development in the Artificial intelligence...............................................................................................8 Stages of the software development lifecycle.........................................................................................9 CONCLUSION.........................................................................................................................................10 REFERENCES..........................................................................................................................................11
INTRODUCTION This time is all about technologies & internet, the role of information technology is increasing very rapidly and taking place in everyone's life. With the help of information technology, people can effectively perform their daily activities in a more suitable way. Basically, information technology implements all the software & hardware applications in order to develop, support, execute and maintain each and every operation of the people & businesses (Alsmadiand et. al., 2018).The main aim of this report is to discuss about information technology related to the HSBC Bank , which is multinational Bank of British & financial provider founded in 1836 & headquartered in London , UK. This report will determine the role of IT for the growth of the businesses; discuss social & ethical issues experience by the businesses, various types of networking technologies, artificial intelligence & stages of software development life cycle. LITERATURE REVIEW According to Vivek Patil (2020),defined that information technologies utilize is specific components related to the computer network and internet connectivity all these devices are helpful in storing, executing, exchanging, securing & processing all the information. Businesses use this so that they can improve their performance to gain more competitive advantage as compared to their competitors. Telecommunication & technologies both are essential for the commercialization of goods & services. According to the Nikki La Marco, ( 2019),revealed that this modern era, all the business activities come on online platforms so that companies are operating trade activities with the help of social media channels like a website, Facebook, Twitter, Instagram, YouTube & many others. All these social marketing platforms are beneficial in promoting, buying, selling & delivering activities. Online platforms are also beneficial to conduct proper communication between the organization & customers so that bacon effectively provides their feedback and clear their doubts for a particular products & services. .
ANALYSIS AND DISCUSSION Role of Information technology in the success of business. The role of information technology is taking a wider place in every individual’s life. Most of the businesses are using all the considerations related to the information technology so that they can connect large number of people and gain more competitive advantages. Through computer system, internet connectivity, and other electronic items are considered as specific components which make possible all the practices of information technology. There is important to adopt a specific innovation with use of technologies which can lead the long-term sustainability rate globally. HSBC Bank is utilizing information technology to operate their business by online method so that IT can play a more prominent role in the success of Bank. Some specific points related to the roles of IT in context of HSBC Bank are discussed below - Improve communication level -Thisis considered as the most common role which information technology is playing for the development of the effectiveness of the Bank. Through proper communication HSBC Bank can effectively deal with their customers, clients & address their all requirements in an appropriate manner. Through company application, website, customers can effectively communicate with the employees and share their issues with them. Employees of the bank are also connect with them and communicateeffectivelytoresolvetheirallissuesappropriately.Customerscan communicate with the employees via phone call, emails & get most possible solution of their problems(Bowie, 2020). Lead customers support & satisfaction- Information technology properly maintains management information system and regulates all the practices to support their clients & customers. HSBC use maintains their management information system in order to access all the adequate information about their customers. Bank also maintain track record of their customers activities so that they can provide security of their customers which can lead the satisfaction level of their customers. Customer’s relationship management -Due to covid pandemic, all the businesses affected adversely and that time there was no way to connect with the customers and maintaingoodrelationshipwiththeminordertoevolvetheproductivityofthe
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enterprises. In the lockdown period, work from home is the main option for the company's to operate their business activities. With the help of information technology, companies connect with their customers so that they can precede business activities with them and also maintain good relationship. HSBC is multinational Bank ok which provide financialservicestotheirpotentialcustomers.Bankokdemonstratetheiractive participationtomaintaingoodrelationshipwiththeircustomersthroughcustomer relationship management activities(Gillath and et. al., 2021). Ethical & social issues that pertain to the information technology With the proper utilization of information technologies, specific issues also occur which are experienced by the organizations. The descriptions related to the social & issues facing by the HSBC are as follows - Social Issues HackingSystem -in this time this social issue increasing day by day and the threat of hacking become the main issue of the companies. HSBC follow proper protocols & maintainlegalconsiderationssothatBankcaneffectivelyprotecttheiradequate information’s and details about their customers. Bank need to manage all the security system so that no one can leak their confidential information about the bank ok so that they can effectively gain the trust level of their customers(Howell, van Beers and Doorn, 2018). Recognizethetheft-In this fast running world, fraud cases improving which provide negative impact on the value of the organization so that it is difficult to gained trust and attention of the customers. This social issue affect the market value of the business & also leak the personal details and information of the customers in an unauthorized way so it is necessary for the HSBC bank to take care about all the fraud & carefully regulate online transaction activities so that no one can harm the dignity of the Bank & bank and effectively maintain all their operations with the use of IT. Ethical Issues
Security & privacy -This ethical issue to become the main concern of the businesses because companies are showing their active participation on the social media channels so itisnecessarytomaintainsomekindofsecuritiesandprivacy.HSBCBankis continuously dealing and connecting with large number of customers it is necessary for the bank to manage all the information of their customers so that customers can feel safe and secure to be a part of the bank(Kalajtzidis, 2017). Harmful Actions -This issue mainly refers as the computer ethics that regulate negative consequencesrelatedtotheinformationtechnologylikelosingtheappropriate information, losing the ownership, destruction of the property & undesirable substance which provide negative impact on the wellbeing of the organization. HSBC need to maintain specific principles related to the ethical conducts which can help full to restricts any kind strangers from the utilization of IT in an appropriate manner so that Bank can maintain all the specific information’s of their clients(Masso and et. al., 2020). Various types of networking technologies Network technology is playing a prominent part in the development of the societies and also provides easy access of information with the usage of internet connectivity and computer system. Network technologies provide all the information digitally to the businesses & institutions (Qureshi, Boyer and Wickramasinghe, 2020).Network technologies is beneficial to conduct proper communication among the people so that they can effectively connect with each other and maintain wireless communication via mobile, Smartphone’s, computer, laptop & and other electronic items. There are various types of network technologies considered by the HSBC Bank which are elaborated below - In accordance with transmission Multipointpurpose -It determine multiple points which contain different notes with are connected with common medium in a linear way. It mainly concerned about transmission of the information on a specific time period. Point to pointpurpose -This maintain the participation of sender & receiver so that they can directly connect with each other and also transfer the specific information. The
transmission of information mainly done by the guided medium through the wired or wireless network(Rahmelina, Firdian, Maulana, Aisyah and Na‘am, 2019). In Accordance with Scale BasisWANLANMAN MonitorThis network monitor bytheprivate& public bodies. Thisnetwork technologyeis monitoredbythe private, public or the individual. Thisnetworkis monitoringviathe privateandpublic individuals. SpeedThis network contains low speed because it covers large range of the areas. Thisnetwork technologyregulates highspeedlevel becauseitcovers limited range. Thespeedofthis network is average as compared to the LAN & WAN. Fault toleranceThis network contains less fault tolerance as compared to the other networks. Thisnetwork regulates high level of fault tolerance. This network contains lessfortoleranceas compared to the LAN. Development in the Artificial intelligence Basicallyartificialintelligencerefersasthesimulationofthehumanintelligence considerations by the machines like computer system. Some specific applications related to the artificial intelligence include natural language processing, speech reorganization, expert system & machine vision. All these applications are helpful to maintain the each and every operations of the HSBC Bank so that Bank can effectively maintain their financial services and provide large value of their services to their customers with the proper usages of AI. Artificial intelligence also considered as the specific branch of the computer science which can turn the computer into brilliant machines. There are various points related to the development in the AI are as follows -
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Evolve security & productivity -It is prominent to maintain the security system of the information and data so that company can evolve security in a confidential way. HSBC use artificial intelligence so that Bank can properly consider the security level of their staff members and also create a safe and secure environment so that employees can effectively improve their productivity level. AI is also beneficial to recognize the data breach as per the time so that mandatory solutions are taken to prevent it(Reuter, 2019). Automatic processing-AI is helpful to maintain the working of the organization without any interference of the humans. HSBC Bank utilizes the whole process of this so that Bank can automatically maintain all the specific operational conditions. AI is also useful in money. Stages of the software development lifecycle This life cycle work like a application which helpful to maintain all the practices of the business. There are various stages are involved in software development life cycle which are mainly discussed as per the requirement of the HSBC Bank are given below - Planning-This lifecycle stage mainly includes specific terms and conditions related to the projects & also calculation of the specific cost like material, labor, preparing cost. It is necessary to follow specific terms and conditions and proper time table in orderto maintain planning process(Sepasgozar and et. al., 2018).Identify requirements- Afterthe appropriate planning, it is mandatory to identify the specific requirements of the resources to generate software system. Design&prototyping-After the planning and identification of the resources, it is necessary to maintain all the architecture and designing procedure. Prototyping is also a prominent part which can help full in designing of the software. Development of Software -This stage mainly include the writing a program & maintain all the consideration of the technologies. There is involvement of of effective team members who are more capable in coding process(Sun, 2019). Testingsoftware- This stage is all about testing the software application before launching in the market. Deployment-This stage is demonstrating the applicability of the application for the users so that they can easily download the application in their Smartphone’s.
Maintenance&operations-This stage mainly concerned about the maintaining each and every operations related to the development of the software from the identifications to the testing so that companies can provide best services to their users with the help of the application. CONCLUSION As for this report, it can be concluded that information technologies are become the basic need of the individuals and businesses without this it is difficult to achieve day-to-day operation. This report discusses various types of of rule related to the information technology and also determined specific ethical and social issues which can create problem in the IT practices. Moreover, this report evaluated various types of networking technologies & it is analysed that all thenetworkingtechnologieslikeLAN,WAN&MANplayaprominentroleforthe convenience of the people & organizations. Artificial intelligence is a crucial component of it which can useful to make system secure & provide the automatic progression which can improve the productivity & effectiveness. Lastly, this report discussed about the 7 stages of software development lifecycle which can aid in planning & implementation of the activities.
REFERENCES Books and Journals Alsmadi, I., and et. al., 2018. Introduction to information security. InPractical Information Security(pp. 1-16). Springer, Cham. Bowie, N.E., 2020.Business ethics(pp. 158-172). Routledge. Gillath, O., and et. al., 2021. Attachment and trust in artificial intelligence.Computers in Human Behavior.115. p.106607. Howell, R., van Beers, C. and Doorn, N., 2018. Value capture and value creation: The role of informationtechnologyinbusinessmodelsforfrugalinnovationsin Africa.Technological Forecasting and Social Change.131.pp.227-239. Kalajtzidis, J., 2017. Ethics of social consequences and ethical issues of consumption.Human Affairs.27(2). pp.166-177. Masso, J., and et. al., 2020. Risk management in the software life cycle: A systematic literature review.Computer Standards & Interfaces.71. p.103431. Qureshi, S., Boyer, E. and Wickramasinghe,N., 2020. Introductionto theMinitrack on Information Technology Innovations to Overcome Health Disparities. Rahmelina, L., Firdian, F., Maulana, I., Aisyah, H. and Na‘am, J., 2019. The effectiveness of the flippedclassroommodelusinge-learningmediainintroductiontoinformation technologycourse.InternationalJournalofEmergingTechnologiesinLearning (iJET),14(21), pp.148-162. Reuter, C., 2019. Information Technology for Peace and Security–Introduction and Overview. InInformationTechnologyforPeaceandSecurity(pp.3-9).SpringerVieweg, Wiesbaden. Sepasgozar, S.M., and et. al., 2018. An investigation of modern building equipment technology adoptionintheAustralianconstructionindustry.Engineering,Constructionand Architectural Management. Sun, X., 2019. Key Technologies of Time-Sensitive Networking and Its Application.