This report provides an introduction to information technology and its role in the success of businesses, with a focus on Barclays. It discusses the importance of IT in business operations, ethical and social issues, networking technologies, social media, and the software development life cycle.
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Introduction to information technology
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ABSTRACT Information technology and its implication is like the base of running of business of every company and every sector. It is very essential that every company and sector must infuse IT in their working operation so that their business got achieve success along with meeting the recent trends. This report will discuss the concept of IT and its role in the contrast of Barclays. Along with that, various concept including ethics, networking technologies, social media and software development life cycle is also being included in this report.
Table of Contents ABSTRACT.....................................................................................................................................2 INTRODUCTION...........................................................................................................................4 LITERATURE REVIEW................................................................................................................4 THEME 1 : Identify the role of IT in the success or failure of a business,.................................4 THEME 2 : Ethical and social businesses,..................................................................................4 THEME 3 : Different types of networking technologies,............................................................5 THEME 4 : Importance of social media in a business,................................................................5 THEME 5 : Software development Life cycle............................................................................5 Analysis & Discussion....................................................................................................................6 Theme 1: Role of IT in success/failure of Barclays.....................................................................6 Theme 2: Ethical and social issues associated with Barclays......................................................6 Theme- 3 Identification and differentiation of network technology............................................7 Theme- 4 Importance of social media in a business...................................................................8 Theme- 5 Stages of software development life cycle..................................................................8 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................10
INTRODUCTION Information technology is one of the recent and trending concept of nowadays. In the world of globalization and digitalization IT and its services plays a major role. IT is having a requirement is every sector specially the banking where the personal and private information of the customers are be3ing kept and shared. Likewise, consideration of ethical as well as social issue are also very important for the banking sector. Similarly, using of different network technology along with inculcation of social media is also an important element in the success of the organization. It is also essential that the software that is being used in the banking sector must be high tech and advanced so that ethical as well as security issues will be meet. This report is made in contrast of Barclays which is one of the famous and important financial institution of UK and a provider of various kind of financial services. LITERATURE REVIEW. THEME 1 : Identify the role of IT in the success or failure of a business, Accourding to theSnyder (2019),the role of the is very crucial in every organization as everything is connected through information technologies in today's market. It is crucial for them to make sure that they are utilizing the most of the technologies to increase working and also achieve business objectives. Working in the business required a lot of an installation of the technologies so there work can be done faster and quick. Technologies help in giving both positive and negative impact on the business and it is important for them to understand that they are developing and utilizing the strategies to get the impact of technologies in business. Business is surrounded with technologies including the software, hardware, cloud computing, safety and security etc. if the organization does not use the technologies in the safety and security then it can cause them issues in there working. THEME 2 : Ethical and social businesses, As per the view ofOztemel and Gursev (2020),the ethical and social issues impact the business a lot and it is important for the business owner to understand that they should keep a working in the culture of the business to provide the ethical working and social promotion of the objective of business. They need to develop the ethical working and need to do work with ethics. It provides working with legal terms and condition and following the guidelines made by the government in the industry. Ethics are important and it can provide a huge impact on the overall business of the organization which leaders and manager need to take care off. It is crucial for
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them to make sure that they are developing strategies through training and development to increase the ethical working in the business and develop the positive atmosphere in the culture of the business. THEME 3 : Different types of networking technologies, Chernyadyev and et.al., (2018),suggested that, there are different types of technologies in the networking technologies which the manager used in working in the business. It includes the Personal area network (PAN), Local area network (LAN), Wireless local area network (WLAN) etc. there are a lot of type of networking in the business which the organization can used in the development of business.technologies help in increasing the performance of business overall and it also initiate the growth through utilization of technologies. PAN works on the personal networking which make personal network and work, on the other hand LAN works through local area networks to promote the technologies and work faster. WLAN This is the technologies which provide frequency speed and have wide range. It is important for them to provide the technologies and used them to develop the working in the business in market by the utilization of new technologies in market. THEME 4 : Importance of social media in a business, Milian, Spinola and de Carvalho (2019), suggestedSocial media importance in the market is very important. Social media refer to the widest networking in today's market and it is used to develop the promotion and networking in the market. It is crucial for them to understand that social media is the biggest platform in the market and it can be used in development of the business. It helps in continues promotion and attract more customer in the business which can develop the performance of business. It is helping the organization in the development and promotion in international market which can further help in improvement and growth of business. Social media is the biggest platform in the market and organization used them to increase the awareness in market position. THEME 5 : Software development Life cycle AspertheviewofKamble,GunasekaranandGawankar(2018),Thesoftware development life cycle include the process of defining, planning, designing of the software, building of the software, testing of the software as whether the software is working good or not, development is the new stage in the process of life cycle. These are the process of the life cycle which the organization and business used to develop the process of the software in the business.
Analysis & Discussion Theme 1: Role of IT in success/failure of Barclays IT plays a major role in the success of the Barclays. Since it belongs to banking and financial sector so the role of IT is major. As Barclays directly deals with customers so it contains and kept personal data of its customers. Here the role of IT is major because if that data will be generalized then it will have a direct impact over the bank and the customers too. Also, as every banking sector have to interact with their customers so it is very essential that the IT support and services of the Barclays needs to be strong. If it will not keep as strong as it will seriously affect the success of the bank. Also, along with the world of digitalization where the use of internet and IT has raised, also make it importance for every sector including banking to inculcate this concept into their working operation (Avgerou and Walsham, 2017). It helps the Barclays to perform its operation in a more efficient manner. As it is seen that cyber crime and hacking of data is also common nowadays. But presence of strong IT support can help the organization to minimize the impact of these issues (Hassani, Huang and Silva, 2018). In addition, of this since Barclays is having association with real world and the customers so inculcation of IT helps it to raise the standard of communication. IT has lead the emergence of mobile banking where customers can perform banking function from their mobile too. Thus, due to the presence of these features, it can be analysed that IT plays a major role in the success of the Barclays in terms of grabbing more customers towards it by meeting and providing the best security terms. Theme 2: Ethical and social issues associated with Barclays Ethical code of conduct is one of the essential element of every business in terms of its operation as well as success (Ahmad and Gao, 2018). Likewise, as every sector and business is having social appearance so it is also become a major part of every industry. As Barclays belongs to financial sector so it is very essential that it should have strong code of ethics and its following. Likewise, apart from operating its own business activities it is also necessary that social issues will be well addressed (Khalil and O’sullivan, 2017). However, Barclays was kept and caught in one of the biggest banking scandal when it charges high and manipulated interest rate from its customers in order to raise its profit and earn more. This has made difficult for the customers to borrow money from the bank and as a result their way of working and small business which was dependent over the bank got affected. For that Barclays was also faced to
situation of paying fine. In this case Barclays in terms of making and thinking only about its organizational profits failed and neglect the interest of public and thus committed ethical misconduct in terms of neglecting social duties and issues. This is not only counted under the violation of ethics but at the same time while making profit Barclays also forgot its social duties and result of that make the borrowing difficult for common people. As a result of that it faced a big impact over its name as well as lose its customer's trust. So it can be analysed that meeting and implementing the ethical code of conduct is very important in terms every sector specially the banking because it is directly connected with the society. Theme- 3 Identification and differentiation of network technology A computer network technology allow the business to send their useful data digitally with the helps of information technology network systems. When the data transmission done between the two and more than two commuters using the communication medium with the helps of cables and wires, then it can be known as network technology. Barclays is one of the top bank in United kingdom who are having good reputation in all over the work with multinational operations. Baking industry is the industry that is mostly based on the IT technology, and they also need the internet of things and network technology system within their workplace to run day to day transactions (Huang., 2021). Here are network technology system that are used by the businesses commonly on the local and international level. Personal area network Personal area network is the most basis type of network, a PAN is made up of the wireless network and it can add computers or two tablets, phones and other tools and mostly used in small offices. Its different from other because mainly used in small office and homes for the internet use. Local Area Network LAN is the mist frequently discussed network type and most common as well. This connect to the group of commuters and low voltages devices together across short distance. And it is similar to the PAN but it has more capacity as compare to the PAN.Barclays use LAN technology for their local operations. Campus Area Network CAN is larger as compare to the LAN's network system and this kind of the network system are typically seen in the universities and small business.
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Metropolitan Area Network (MAN) These types of networks are larger than LANs but smaller than WANs – and incorporate elements from both types of networks.Barclays also use the MAN Technology for the multinational operations (Suryavanshi., 2019). Theme- 4 Importance of social media in a business Social media is one of the most important part of the business because it is one of the trending marketing tool that is not only helping the multinational organizations but it is al;so used in the small business in their start-ups and helps them to achieve success in their business. Barclays also use the social media and it plays essential role in their growth and attract customers to buy services from theBarclays. They use social media to run their business campaign and aware people about their services and attract customers to open their account in the Barclays Bank. Services on the social media are cost effective and easily top use and it also provides analysis services to business so marketing team of the comp[any and see the campaign progress and how their campaign is performing within the market. Social media also have some benefits like business likeBarclays can target the customer according top their interest, age and keywords used by the people. It helps them to target the customers and business accurately and company can attract the people easily . Marketing team can also modify the campaign according top them manually and attract according to them. Theme- 5 Stages of software development life cycle There are total 4 phases of the software development, to develop the software it is necessary for the software developer of the Barclays bank to go thorough the these for stages. Phase 1- Development This is where the application or software is ideated and created. Finding and fixing application security issues in this early stage is far less costly than waiting until after an application has been deployed, so empowering developers to create secure software from inception is critical (Tejay and Paul., 2020). Phase 2- Testing Once the application of theBarclays is created, it has to go thorough another stage of testing before its release. Even if the developer include the security in it. It has to thorough the testing so problems can identified. It includes the quality test and security test of the application.
Phase 3- Deployment After the compilation of the test another stage will be Deployment. But inevitably, not all vulnerability can be remediate for every application before it goes live . Misconfigurationin manufacture environments can present issues not existing in pre-production, and brand-new zero-day exposure arise in between merchandise cycles. Phase 4- Monitoring Last stage is monitoring andBarclays provide the financial services so it is necessary for them to monitor their software on the regular basis. They have to ensure about the threat and provide the best possible security. CONCLUSION `From the above report it can be concluded that the organization need the proper utilization of the technologies so that they can develop the business. It is important for them to make sure that they are using the technologies and developing the social media used to increase the business promotion and customer attraction.
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