Introduction to Information Technology in Service Sector Businesses

Introduction to
Information
Technology
1

Abstract
The relevance of information technology on growth and development of service based
businesses are major and immensely significant. In this report, impact of IT advancements on
businesses are broadly discussed and elaborated. The ethical and social challenges raised due to
growing emergence of information technology are also included. In this report, concept of
application software and their types are being discussed.
2

Table of Contents
Abstract............................................................................................................................................2
Introduction ....................................................................................................................................4
Literature review .............................................................................................................................4
Application software and its types..............................................................................................4
Ethical and social issues of IT in businesses..............................................................................5
Impact of information and communication technology on businesses.......................................6
Role of IT in businesses..............................................................................................................7
Analysis and discussion ..................................................................................................................8
Application software and its types in banking sector.................................................................8
Ethical and social issues of IT in banking services.....................................................................9
Impact of information and communication technology on banking sector................................9
Role of IT in banking sector.....................................................................................................10
Conclusion ....................................................................................................................................11
References ....................................................................................................................................12
......................................................................................................................................................12
3

Introduction
Information technology refers to the application of computerised programs, gadgets,
software and hardware which facilitates storage of data and helps in automation and processing
in providing services. The term information technology is referred to the usage of technology
and modern advancements in the area of business organisations and professional world rather
than in personal context. The use of information technology is immensely significant and
relevant in this era, where operations of businesses and corporations are complex and extremely
widespread. Information technology is used by businesses and organisations in the form of
artificial intelligence, cloud computing, networking, software research, complex systems and
biometrics and other computerised programs. The concept of Information technology is used in
various business sectors and corporations which enables organisations to perform functions with
reduced efforts and high accuracy. IT sectors make effective use of numerous software and
forms of digital technology and rely on information technology to manage business operations.
Nowadays, it has become practically impossible for large companies and medium or small scale
enterprises to perform their operations without using tools and techniques of information
technology. The inventions and methods used by information technology to support various
functions is extremely diversified. There are numerous software and computerised systems
which are included in the concepts and terms of information technology (Khanyile, 2019). The
introduction of information technology have redefined the ways of working patterns in which
organisations manage corporate activities. In this report, the application and impact of IT is
broadly discussed in context to a service sector business. The chosen organisation for this
purpose is Lloyds Bank which is a commercial bank headquartered in London. The service
sector relies completely on information technology to conduct their professional functions in
today's era. In this report, the role of ICT in management and the significance of growing use of
internet is being discussed.
Literature review
Application software and its types
As per the view of Priya Pedamkar (2020). Software are programs and computerised
systems which are invented to facilitate specialised tasks and perform particular functions on a
system. Application software are programs which are designed and installed in computers and
4