Influence of Online Transactions on CITI Bank and Royal Bank of Scotland's Working Patterns

RESEARCH PROJECT
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Table of Contents
Introduction......................................................................................................................................2
LO1..................................................................................................................................................3
P1 Produce a research proposal that clearly defines a research question or hypothesis supported
by a literature review.......................................................................................................................3
P2 Examine appropriate research methods and approaches to primary and secondary research....5
M1 Evaluate different research approaches and methodology and make justification for the
choice of methods selected based on philosophical/ theoretical framework...................................6
LO2..................................................................................................................................................8
P3 Conduct primary and secondary research using appropriate methods for a business research
project that consider cost, access and ethical issues........................................................................8
P4 Apply appropriate analytical tools analyse research findings and data....................................10
M2 Discuss merits, limitations and pitfalls of approaches to data collection and analysis...........21
D1 Critically evaluates research methodologies and processes in application to a business
research project to justify chosen research methods and analysis.................................................23
LO3................................................................................................................................................24
P5 Communicate research outcomes in an appropriate manner for the intended audience..........24
M3 coherently and logically communicate outcomes to the intended audience demonstrating how
outcomes meet set research objectives..........................................................................................25
LO4................................................................................................................................................26
P6 Reflect on the effectiveness of research methods applied for meeting objectives of the
business research projects..............................................................................................................26
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P7 Consider alternative research methodologies and lessons learnt in view of the outcomes......27
M4 Provide critical reflection and insight that results in recommended actions for improvements
and future research considerations.................................................................................................28
D3 Demonstrate reflection and engagement in the research process leading to recommended
actions for future improvement.....................................................................................................29
Conclusion.....................................................................................................................................30
References......................................................................................................................................31
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Introduction
The project work has provided a deep and elaborate understanding of the aspects related to the
digital technology that has to tend to revolutionized the work operations and patterns CITI Bank
and Royal Bank of Scotland. In addition, the project work has elaborated on the fact with respect
to the attraction of the customer so as to enable a suitable and appropriate position in the global
arena. For the purpose the project work has addressed on the primary and secondary methods of
the data collection along with proper analysis and evaluation so that proper knowledge on the
impact of the technology can be grasped and suitable decision can be taken by the authorities of
the bank leading to the accomplishment of the objectives that are associated with the work
operations. Further provided the report has provided the varied aspects and facts with the use of
the appropriate tools and techniques so as to meet the objective of the research work effectively.
The report has also highlighted on the suitable recommendations so that a proper command can
be attained by the CITI Bank and Royal Bank of Scotland on the technical aspects so that a better
and suitable position can be attained.
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LO1
P1 Produce a research proposal that clearly defines a research question or hypothesis
supported by a literature review.
Title: Influence of online transactions in the working patterns of CITI Bank and Royal Bank of
Scotland.
Research aims and objectives
The prime objective of the research work can be elaborated as:
 To understand the impact of the technology on the attraction of the customer.
 To have a knowledge with respect to the influence of the technology in the work patterns in the
sector of banking.
 To understand the variations in the course of the result making with the implementation of the
online transactions in the sector of banking
 To understand the enhancement in the level of efficiency that can be gained by the banking
sector with respect to the implementation of the technology.
Research questions
Q1. How will the technology of the online transactions contribute to the growth of the CITI Bank
and Royal Bank of Scotland?
Q2. What will be the different strategies that will be adopted by the sector of banking in relation
to the online transactions?
Q3. Evaluate the positive and negative consequences that can be faced by the sector of banking
by using the concerned technology?
Q4. How will the online transactions support the CITI Bank and Royal Bank of Scotland in
attaining a greater level of efficiency?
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Literature Review
In the words of Rahi (2017), technology is the greatest factor that tends to revolutionize the work
operations of all the sectors in a great manner. In relation to the banking sector the author
elaborates that with the changes that are dominating in the market environment there is a prime
need by the authorities of the sector of banking to bring some advancement in its pattern of
working so that it can serve the needs of the customers in a better manner thereby retaining them
for a longer prospects of time. The author further elaborates that the changing scenario the major
technological up gradation that has been elaborated is with respect to the online transactions.
With the implementation of the online transaction, the author elaborates that the sector of
banking can be able to serve the needs of its customers in a better and quick manner. However,
in this regard, the author suggests that the sector of banking must keep an appropriate command
on the transactions conducted online so that proper position can be attained (Melissa, 2014).
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P2 Examine appropriate research methods and approaches to primary and secondary
research.
For the ascertainment of the proper and appropriate outcome it is prerequisite that the person
involved in the procedure of the research work makes use of the appropriate methods for the
purpose of the assortment of the data so that a suitable outcome can be attained by the researcher
that in turn can lead to the better procedure of the decision making. With respect to the grasping
of the better known in relation to the implementation of the online transactions in the working
patterns of CITI Bank and Royal Bank of Scotland, the researcher can get the viable information
from varied sources. The information can be collected by the examiner with the aid of the
following two methods that includes a primary and secondary method of data collection (Lowry,
2015).
Primary data requires the researcher to collect the fresh information with the aid of the various
methods such as interviews, questionnaires, survey etc. The method enables the researcher to
collect such information that has not been used before. As such the researcher can bet the altered
benefits such as the degree of accuracy that is provided by the concerned method of the
collection of data is relatively high. Further provided, the primary method of data collection
supports in the addressing of the specific issues related to the procedure of the research leading
to better command.
Secondary data is the data that is collected and assorted from varied sources such as articles,
journals, magazines etc. that were previously issued. The secondary methods support the person
involved in the work of the researcher to get the vast information in an easy and quick manner.
Further provided, the method assists in the identification of the varied and altered concepts that
can lead to the better judgment in the subject matter (Blanas & Kylindri, 2012).
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M1 Evaluate different research approaches and methodology and make a justification for
the choice of methods selected based on the philosophical/ theoretical framework.
For the attainment of the successful outcome, the person involved in the researcher is required to
make a proper and effective evaluation on all the aspects related to the varied methods and
approaches that are used for the collection of the data. This is prerequisite as it will support in the
better understanding of all the positive and negative points that can, in turn, assist the
investigator in making better and suitable judgment (Blanas & Kylindri, 2012). For the collection
of the data primary and secondary methods for the collection of the data has been evaluated that
involves the following positive and negative aspects as follows:
Primary method
Advantage Disadvantage
 Better and more reliable results can be
obtained.
 New and elaborated sources can be
attained.
 The more specific study can be done.
 Greeter supervision can be attained by the
investigator engaged in the procedure of
the research.
 Requires a lot of time as such leads to
delay in the decision-making process.
 Greater resources are required
 The costly method that sometimes tends to
provide inappropriate results.
Secondary method
Advantage Disadvantage
 The easiest method for the collection of the
data.
 Does not provide with the quality of the
outcome.
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