This report covers the various types of application software used by the business organisation, social & ethical issues related to the IT, several types of networking technology along with the impact of artificial intelligence in the business. Furthermore, it also covers the various stages of software development life cycle.
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Introduction to Information Technology
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ABSTRACT Information Technology is defined as the processing and exchanging of data by the use of several devices which include mobile, laptop, computer and many more. Several of benefits have been analysed at work place by the use of technology. Along with the several advantages, it also bringsomesocialandethicalissueswhicheffecttheproductivityandprofitabilityof organisation.Networkingtechnologyalsoplaysanimportantroleinperformingthe communication process within the organisation, within the several organisation on within the countriesorcontinents.Artificialintelligenceimpliesseveralpositiveaspectsonthe performanceof organisation.Itisnecessary to followthe completeprocessof software development.
Table of Contents ABSTRACT.....................................................................................................................................2 INTRODUCTION...........................................................................................................................2 LITERATURE REVIEW................................................................................................................2 ANALYSIS AND DISCUSSION...................................................................................................2 Types of application software used by the businesses................................................................2 Ethical and Social issues associated with running the business..................................................3 Identifying and differentiate between different types of networking technologies....................4 Impact of artificial intelligence on business operations..............................................................6 List and explain the different stages of software development life cycle...................................7 CONCLUSION................................................................................................................................8 References:.......................................................................................................................................9 1
INTRODUCTION Information technology refers to the application of technology for the purpose of solving the several issues of a business organisation on a wide scale. In order to perform the business functions in a smooth manner, IT department of organisation plays an important role as it introduce the effectiveness in the work performance along with saving the time and cost. The chosen organisation for this report is HSBC Holdings. It is a British multinational investment bank which provide the financial services to customers with their wide presence having headquartersinLondon,England,UnitedKingdom.Thisbankownsthetotalassetsof approximately US$2.984 trillion which state that it is the second largest bank in Europe. This report deals with the various types of application software used by the business organisation, social & ethical issues related to the IT, several types of networking technology along with the impact of artificial intelligence in the business. Furthermore, it also cover the various stages of software development life cycle. LITERATURE REVIEW According to the Rich Castagna (2020), information technology is defined as the usage of networking, storage, computer and other devices which leads to the performance of functions of storing, processing, securing the exchange of data in electronic form. In order to perform the business operations, technology is being used to make the task easier and efficient. Information technology is also use on commercial bases by the use of telecommunication and the computer technology. ANALYSIS AND DISCUSSION Types of application software used by the businesses Application of software programs are created for the purpose of helping the functions of a business organisation. It can help the business in several ways such as managing the information, calculatingfigures, manipulatingdata and many more. Belowmentionedare the several application software used by the business:Accounting Software:Accounting is the most important aspect in operating the business functions. In order to bringing the effectiveness I accounting process, the organisation is required to use the relevant software(Torten and et. al., 2018). Several of accounting software are being used by the HSBC bank, which include tax software, bookkeping 2
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software, payroll software and many others. Best accounting software are used for the purpose of making efficient use of time, tax filing, cash flow etc. HSBC bank have to process with the lots of figures. Hence, they are required to select the best software as per their needs.Time tracking software:This software is useful for organisation as it leads to the managing the time in a proper manner. Mangers are required to keep an eye or track the operations of organisations by managing the time. This software help the same. The management of HSBC bank is using this software for the purpose of knowing about the timemanagementoforganisation(Toyama,K.,2018).Bythisapplication,the organisation know where they are spending too much and too little time along with analysing the free time. It help the HSBC bank to use the free time in the business operations. Customer Relationship management Software:Customers are consider as the King of a business as all the business organisations are performed only for the purpose of providing productsandservicestotheircustomers.Hence,itisnecessaryfrothrbusiness organisation to develop a healthy relationship with them. HSBC bank is using CRM tool in order to better analysing the ways or methods in which their business act with its culture base. This software is implying an important and valuable assistance to the employees of HSBC bank which help them in understanding their customers in a better way. Ethical and Social issues associated with running the business Ethical Issues Information technology include all those elementswhich are being used to store, manipulate and fetch the informations at a minimum level. Advancement in the IT sector implies the knowledge ofprivacy and security to the management of organisation. Some of ethical issues in the context of HSBC Holdings are given below:Personal Privacy:HSBC Holdings is using the technology on daily basis by using internet,banking,mobilebankingandmanymore.Forthesamepurpose,the management is required to work with the personal details and information of customers. It is the main task for the management to maintain the privacy of their customers and 3
employees as the disclosure of personal information result in the ethical issue for the business. Security:In order to provide the best services to the customer, the HSBC Holdings is required to keep the record of personal data of customers(Vanpoucke and et. al., 2017). It also consider as the important for developing a healthy customer relation. When there is excessive observation or spying, it result in the ethical issue for HSBC Holdings as the banks should not track the usage of their customers and if it does so, it must justify the surveillance. Social Issue It include those issues which are developed because of the external factors of a business organisation which implies direct effect on the position of organisation in the society. Social factors in the context of HSBC Holdings are given below:Online banking:It has been found that there are high chances of hacking while performing the business operations by the use of internet. The image of HSBC Holdingscanbeeffected,ifthepersonaldataofcustomergethackedbyany unauthorised user or party. The organisation is required to adopt those software which include high security and privacy norms in order to protect the important information which implies positive social image. Identify theft:In order to perform any illegal action, the unauthorised user or party use the personal information of customers. This act is know as the identity theft. The HSBC Holdings is require to store the data of customers in a careful manner. So that any unauthorised user can not try to theft the data and save it from fraud. It also help the organisation in making positive social image. Identifying and differentiate between different types of networking technologies By the use of information technology, any business organisation and financial institution can send any type of data in digital form and it is possible only because of networking technologies. Basically, networking technology is defined as the exchanging of information between the small and large organisation(Rad and et. al., 2018). On the bases of communication and measures, the classification of network technology has been done. Networking technologies are classified in the given below two types on the basis of communication and transmission: 4
Pointtopoint:Whenthesenderandreceiverofdataareindirectcontact,the transmission of data can be done with the use of guided medium which have been used as the wireless network. Multi point:It involve the technology under which two or more than two receivers are connected with the sender with the use of various mediums in the linear manner. On the basis of scale, below mentioned is the classification of networking technologies:LAN (Local Area Network):It involve several of devices which can connect within a small rage such aslaptops, mobiles, computers. This range may be measured as 100 meters to 10 Km. Those properties, on which this network is depend include the range, speed, error rates and users.MAN (Metropolitan Area Network):It refers to the network under which several of LANs are collectively agreed with several of devices of networking known as bridges. The range of Metropolitan Area Network is higher than the Local Area network i.e. 10 Km to 100 Km.WAN (Wide Area Network):It is defined as the network under which the MANs are jointly collected through networking devices. It result in the establishment of different route. Public and private are the two types of WAN(Mauerhoefer and et. al., 2017). Network handled by the government is defined as the public network whereas the network handled by the individual refers to the private network. Its range is identified up to 100000 Km. BasisLANMANWAN MeaningConnection of network in a very small range of area. Connectionofbig areas such as town or cities. It refers to the network withhighlocality which joint the nation. OwnershipPrivate individuals are theownerofthis network. Government or private individual can be the owner of this network. WAN is owned by the both private and public people. SpeedItinvolveadvance velocitybecauseof Theaveragespeed havebeenanalysed Itsspeedhavebeen measured as low as it 5
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less range of area.due to the courage of highrangeas compared to the LAN i.e. 100 Km. coverhighrangeof distance. Used forThis network is mostly used in the schools and colleges. Thisnetworkis expanded in the cities and towns. This network is used inalloverthe countriesand continents. AllowsItincludethesetof individuals as it allows theprocessof communication. Itprimarilyallows severalcomputersto act coinciding(Xiang, Z., 2018). It allows large units of computerstopassing theinformationat same time. Fault toleranceIt include high break allowances. Lessfaultendurance has been analysed as compare to LAN. Itinvolvethefault toleranceascompare to LAN and MAN. (Lloyd, I., 2020) Impact of artificial intelligence on business operations. It has been found that artificial intelligence is constantly transforming the world in which people live. It leads to the development of efficiency at work place. AI is defined as the science and engineering which makes the machines intelligent by the use of computer program. Several of impact of artificial intelligence on the business operations of HSBC Holdings are given below:Saving of time and money:HSBC Holdings is using several of machines by using advance technology which leads to the saving of time such as ATM machine, cash deposit machine and many more. These machines are intelligent as the human and bring the effectiveness in the work by avoiding any mistake which is generally done by the human beings. These machines are working 24*7 without taking any break(Lloyd, I., 2020).Reducing errors:Humans can do any mistake while performing the business operations but it has been found that the machinery always reduce the chances of errors. AI take a little time while doing calculation and implies the correct answer. In the context of 6
HSBC Holdings,the forecasting of cash flow is time consuming for human leads to the higher chances of errors but it is forecasted by using AI it will reduce the mistakes. Productivity is enhanced through artificial intelligence:It has been found that by the use of artificial intelligence, the to do list of employees can decrease which result in the enhancement of effectiveness in the organisation. Most of work has been done by the artificial intelligence which provide the best services to the customers and enhance the productivity and profitability of organisation. List and explain the different stages of software development life cycle. In order to develop, design and test the software of higher quality, a process is being adopted by the organisation which is known as software development life cycle(Jimenez- Jimenez and et. al., 2019). It is necessary for the organisations to develop the software so that they can fulfil the needs and requirements of customers. Below mentioned are the stages of software development life cycle: Planning:Under this step, a full proof plan has been developed by the organisation related to the development of software in the respect of finance and people. It leads to the cost estimation and requirement of procurement.Feasibility or requirement analysis:At this level, the expectations of users have been confirmed. A discussion have been done with the stakeholders so that the project manager can know about their needs and requirements.Design and prototyping:A model is being presented with all the desired characteristics and getting the early feedback and informations related to the several technical decisions. 7
Software development:At this level, the requirements has been converted into the working codes. It is the first stage of development of software(Hendon and et. al., 2017). At this level, the project manager try to make the fitted product as per the final product.(Brooks 2017)Software testing:After doing the development, the software has been tested and analysed whether the software is as per the requirements or not. Under this stage, the developer check the quality and features of code whether they are meeting the needs and requirements of users.Implementation and integration:In this stage, the effectiveness of software have been checked by putting the code at the place. It is defined as the deploy of code on the web server.Operations and maintenance:After implementation, the developer search for any fault and defects. Through figuring out the work performance of software, the developers are responsible for identifying the issues and solve them quickly(Brooks 2017). CONCLUSION From the above report, it has been concluded that the information technology plays an important role in the corporation world as introduce the effectiveness and efficiency at work place and make the task easy which also save the cost and time of organisation management. HSBC Holdings is a bank or financial institution. The management of organisation have to do processes with lots of numeric terms and it is not an easy task to do processing manually in a correct or accurate manner. IT make all these task easy for the management. There are three types of networks i.e. LAN, WAN and MAN. Artificial intelligence is the name of advance technology which is being used by the businesses as it make easy several tasks such as market research, connection with customers and many more. In addition to this, it is also analysed that there are 7 stages in the process of life cycle of software development. 8
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References: Books and Journals Brooks, D.C. and Pomerantz, J., 2017. ECAR Study of Undergraduate Students and Information Technology, 2017.EDUCAUSE. Hendon, M., Powell, L. and Wimmer, H., 2017. Emotional intelligence and communication levels in information technology professionals.Computers in Human Behavior,71, pp.165-171. Jimenez-Jimenez, D., Martínez-Costa, M. and Rodriguez, C.S., 2019. The mediating role of supply chain collaboration on the relationship between information technology and innovation.Journal of Knowledge Management. Lloyd, I., 2020.Information technology law. Oxford University Press. Mauerhoefer, T., Strese, S. and Brettel, M., 2017. The impact of information technology on new product development performance.Journal of Product Innovation Management.34(6). pp.719-738. Rad, M.S., Nilashi, M. and Dahlan, H.M., 2018. Information technology adoption: a review of the literature and classification.Universal Access in the Information Society.17(2). pp.361-390 Torten, R., Reaiche, C. and Boyle, S., 2018. The impact of security awarness on information technology professionals’ behavior.Computers & Security.79.pp.68-79. Toyama,K.,2018.Fromneedstoaspirationsininformationtechnologyfor development.Information Technology for Development.24(1). pp.15-36. Vanpoucke, E., Vereecke, A. and Muylle, S., 2017. Leveraging the impact of supply chain integration through information technology.International Journal of Operations & Production Management. Xiang, Z., 2018. From digitization to the age of acceleration: On information technology and tourism.Tourism management perspectives.25.pp.147-150. 9