Report on Information Technology (PDF)

INDIVIDUAL REPORT

Abstract-
It has been described in this report that organization use IT in order to run each functions
effectively. Information technology is process of storing and gathering different kinds of data in
form of text, numerical and picture information. Computer based technology implement by
business that make drastic change in organizational structure and open new ways that drive them
towards success. It has been explained that company use internet in organizational structure for
collecting more information about consumers and also for commercial purpose.

Table of Contents
INTRODUCTION- .........................................................................................................................4
LITERATURE REVIEW- ..............................................................................................................4
IT role in success or failure of HSBC bank in banking sector.....................................................4
Ethical and social problems that relate to running business........................................................5
Different types of networking technologies differentiation.........................................................6
Importance of internet and intranet in company..........................................................................7
Different stages of system development life cycle......................................................................8
ANALYSIS AND DISCUSSION- .................................................................................................9
CONCLUSION- .............................................................................................................................9
REFERENCES .............................................................................................................................11

INTRODUCTION-
Information technology is development, support, design and management of computer
based information system- especially computer hardware and software applications. It is use of
computer to retrieve, store, manipulate and transmit data, in context of business. It considered
as procedure of making use of different technologies of computers to take amended
technological advancement (Hills, 2018.). In short, IT purpose is to cater better information and
services. The present report is based on HSBC bank, it is a British multinational financial
services holding organization and investment bank. It is one of the largest bank in Europe and 7th
biggest firm in the world. This study explain role of IT in failure or success of business, social
and ethical issues that faced by company and different kinds of networking technologies.
Furthermore, it justifies significance of internet and intranet in organization and define different
phases of system development life cycle.
LITERATURE REVIEW-
IT role in success or failure of HSBC bank
According to Alalwan and et.al., 2016 Information technology is defined as process of
managing information and data by using computer software and systems effectively. It includes
utilization ad application of information tools so that help company to stored their data and
transferred essential info from one location to another. IT is all about the uses of software,
hardware , services and another supporting systems for conveying, retrieving and storing data
whenever needed. Information technology play crucial role in success of business as it helps to
provide services related to banking efficiently. It contribute to improve organizational
communication, technology is use in business mostly for communication through platforms like
as email, conferencing software, firm internet and intranets in general and video chat
(Hanafizadeh and et.al., 2014). When HSBC use information technology they can hold virtual
meeting with consumers and their staff around the world without having to spend money as well
as time on travel. Through video conferencing, they can solve issues of people and retain them
with business for longer that helps in success of company. IT has support firm and their workers
in more efficient management, to conceive their complexity, generate new services and to
inquire about specific issue. As argued by Martins, Oliveira and Popovič, 2014 Information
technology role in HSBC is to improve operations efficiency which helps in success of firm and
sustain it for long time within banking sector. This often happens with support of centralized

organization database and enterprise software. More than having to get employees to monitor
and count inventory, business can use inventory management software that checks real time
levels. Business get success at global level, when they set up multi-languages website that
markets to international consumers. By setting up this websites they can run its business around
the world and build largest chain of consumers. Author also stated that IT play important role in
success and growth of bank. People need to view their account and want to get account
statements, which is not possible for them when they are at home. But bank make it possible,
they implement new technology that is mobile banking application that helps consumers to get
any information related to account easily. By implementing this system business can provide
better services to its clients which is beneficial for their success.
Ethical and social problems that relate to running HSBC business
As discussed by Belal, Abdelsalam and Nizamee, 2015 organization face many issues
due to unethical practices which affect on their business and market reputation. Some time staff
required to use consumers data for filling some essential details, without permission they cannot
been able to use it because it is against ethical practices. When they take information about
people accounts without their approval, they lost clients trust and loyalty which make negative
impact on its reputation. This kind of ethical issue that pertain to running business decrease
productivity and profitability. Mis-selling of policies is also considered in ethical issue that
pertain to running business in banking sector. Workers is accountable in HSBC to provide good
services to people, they need to give full information about life insurance policy without
misleading consumers. In addition, when employees mislead clients and does not providing
detail related to insurance policies they conduct unethically which negatively affect on their
professional career as well as business reputation in market. Furthermore, sometimes staff does
not educate their consumers on financial literacy which is essential for people to know. It is the
understanding and learning of different financial areas including subject related to managing
personal account, money, finance etc. this kind of ethical issues that connect to running firm in
banking sector faced by them.
As contradict by Mathew, Sulphey and Prabhakaran, 2014 social issues is considered as
one of the biggest challenge faced by HSBC. For example, individuals can take financial
decisions effectively without any involvement of others. But in society when person are taking
loan, group of people influence their decision which create issues for bank to run their business.

Friends, relatives, family members and co workers can affect an individual financial decision
which is based on their personal experience. If someone' family member is in bank to take loan
and invest in money saving policy, other person give them advices that may influence its own
decision as to whether to invest or not. This type of problems faced by business in banking sector
which impact on their profitability as well as productivity. Interference of family and other
people's make person incapable to make its now decision which considered as social issue that
pertain to running overall business in banking industry.
Different types of networking technologies differentiation
According to Crist, Knick and Hanser, 2017 networking technology is use of attached
systems either via satellite, optic cable and wireless connection to shift various data. 4 kinds of
networking technologies can used by businesses for its growth and success. Personal area
network, local area network, wireless local area network and WAN are the 4 types of
technologies related to networking. As per view of author, PAN is one of the best and smallest
type of network made up of wireless modern. It is typically used in small business and managed
by only one person from single device effectively. It is better than other networking
technologies, its a computer network will used by company for interconnecting devices focused
on individual worker workspace. It provides information and data transferring among devices
such as smartphones, personal digital assistant, tablets and computers.
As argued by Sadiku, 2017 Local Area network is the best as compare to other
networking technologies, according to author LAN is most often discussed network and one of
the most simplest or original type of network. It connect units of low voltage devices and
computers together across short distances to share essential information. Company usually
maintain and manage LANs by using routers, it allows them to connect to WAN which is
beneficial for business to safely and rapidly transfer data.
As contradict by Srinivasa, Zhang and Nabar, 2014 WLAN is better as compare to
another technologies of networking. It make use of wireless network devices such as WiFi, it
considered as effective wireless distribution method that use high frequency waves and also
includes access point to internet. Wireless local areas network does not needed that devices
depend on physical cables to link to other network. It permit people to move around coverage
area whether at office or home, while balancing network connection. As stated by rather than
Senft, Gallegos and Davis, 2016 WLAN, LAN and PAN Wide area network is the best. It helps

to connect one computer with another one across longer physical distance. It allows low voltage
devices and computers to be remotely interconnected with each other all over one big network to
communicate with other when they far away from miles apart. WAN covers large geographical
area, share resources and software from longer distance and distribute workload effectively
without any travel charges.
Importance of internet and intranet in company
As per view of Ziaee, 2014 internet is world wide computer network providing variety of
communication and data facilities, consist of interrelated network using standardized
communication rules or protocols. It considered as a network in which people at any computer
can get information from any other device and sometimes they can talk easily as well as directly
to other person at another smart device. Internet is important in business as working in banking
sector, through internet company is able to share data with its other branches in all around the
world. It enables organization to manage consumers accounts and provide them online services
effectively which build strong relation between management and people. Internet in business
cater many services like dealing online and permit them to communicate with its clients at any
time. Video conferencing is possible in organization when they are using internet which helps to
connect manager from its higher authority. It contribute them to take better decision and give
responses to consumer feedback effectively. With the help of internet meeting required to take
opinion from seniors is possible throughout video chat. E banking is one of the facility that
provide by business in banking sector to its consumers which make them capable to operate their
financial account in more effective way at any time whether they are at home or in office. All the
above things is possible just because of internet that play very essential role in HSBC and allow
them to connect with people for longer time.
As argued by Awuondo, 2015 intranet is important in business, it is a computer network
uses for transferring corporate information. When organization share financial account
information with its clients they can safely and securely transfer it because of intranet that helps
sharing essential data without any risk. In organization managing documents is very critical as it
consume a lot of time and efforts. But with the help of intranet company keep all its important
documents up to date that they can use at any time. Thus, it is clear that in order to run business
effectively and manage their daily operations efficiently in HSBC, internet and intranet is
important.

Different stages of system development life cycle
Rastogi, 2015 stated that system development life cycle is also known as application
development circle. It is the procedure for creating, deploying and testing the information
system, this concept is applied to range of software and hardware configurations. SDLC is based
on six stages that define the overall life cycle of system development effectively. It enables
person to transform new developed system into operational one. According to Roztocki and
Weistroffer, 2015 planning is the first phase of this life cycle, in this stage the purpose of
planning is to find out scope of any issue and identifies solutions. System development
procedure is begin with preliminary analysis also called planning ,it describe benefits and costs
of newly development.
Another stage is system analysis and requirements, in order to proceed further step of
system development, analysis of requirement is very important in which analysing performance
of current system is considered that helps to determine the demand of new system in future.
Design is the third phase of life cycle pertain to system development, it describe in depth needed
specifications, operations and features that will fully satisfy functional necessitates of planned
system that will be in place. This step is quite simple as compare to other phases of system
development life cycles, here individual will see the blueprint of new software that they want in
business. The procedure includes designing of network, user interfaces, application and system
interfaces. According to Asadi, Amiri and Mottahedi, M., 2014 development stage is most
difficult in comparison of another stages in SDLC. It marks the final of initial section of
procedure, this step signifies begin of production. In addition, this stage is also characterized by
changes and instillation of new system that businesses want. Furthermore, testing and
integration part is crucial in whole process because it required specialist of information
technology department who are able to test the effectiveness and working position of new
system. After passing above stages and with the permission of technology expert,
implementation of new system is begin which increased productivity and profitability rather than
before. Once the new software is developed and tested, this stage comes where management
successfully implement device into source code through coding.
ANALYSIS AND DISCUSSION-
Information technology fosters creativity in business, innovation outcomes in smarter
apps, faster processing, improved information or data storage systems and allow wider

information distribution. Investment in IT bring many benefits for HSBC bank, it helps to reach
potential consumers and make them capable to develop strong business relationship with people.
For example, IT increase the stage of competitive and forced business to integrated new
technologies in organizational structure in order to satisfy consumers. If they invest in IT they
will be able to retain people with them for long time period. Self inquiry facility is one of the
best services which they can serve to people if business invest in IT because it is beneficial for
them. According to this facility customers can log in into particular self inquiry terminals at
branch to take more information and view statement about money transactions in their personal
account. In additional, investment in IT bring one more benefit as it helps business to store their
valuable information safely without any risk of security issue. Preservation, maintenance and
storage of data and confidential files is know as information management which is possible when
company invest in IT. IT is important to any organization that store financial data of consumers
for longer period of time in computerized system effectively.
But on the other hand, if HSBC invest in information technology they face many issues
related to privacy and system up dates. For example, implementing of new technology increased
cost and impact on profit margin of business. When company invest in IT and implement new
technology, requirement of monthly up date needed more investment which is more expensive
rather than system implementation in workplace. System failure is one of the drawback when
firm investing in information technology. If the system is failed due to some technical issue
organization loss all their valuable documents and consumers details which they stored in
computer system since for so long. It create most challenging situation for business to restored
and recollect information again.
CONCLUSION-
Form above, it has been concluded that information technology is beneficial for HSBC
bank which helps to increase their profit margin and stronger consumer base rather than other
bank in banking sector. Throughout, using internet business can communicate with potential
clients effectively and solve their issues related to accounts. Internet allow management to build
strong relation with people and make able to deal with them without any confusion. Furthermore,
when organization invest in IT they get many benefits which helps to run overall business in
banking sector for long time.

REFERENCES
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Ethical Issues. 2018. [Online]. Available through:
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<https://www.innovativearchitects.com/KnowledgeCenter/basic-IT-systems/system-
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