Importance of Information Technology in Business

Introduction to
Information
Technology
Table of Contents

INTRODUCTION ..........................................................................................................................1
TASK...............................................................................................................................................1
Functions of IT in the success and failure of a business........................................................1
Discuss ethical and social issues related with functioning of businesses...............................2
Differentiate between different forms of networking technologies.......................................3
Explain the importance of social media in a business............................................................4
Discuss various stages of software development life cycle ...................................................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
This report is initiated to understand the importance of information technology in the
business. Information technology is defines as use of computer system to carry out business
activities and solve various business problems. It is the process of storing and transferring of
information and data as per the requirement also studying, developing and managing the
computer based information system. In this report the Barclays bank is take as the base
organisation. The Barclays bank is one of the top bank in the UK, it was founded in 1960 by
John Freame and Thomas Gould who were known as goldsmiths of London city. Barclays
mainly works in the businesses like personal banking, corporate banking, wealth management
and investment management. In context to the chosen organisation the importance of IT in their
success and failure also the ethical and social issues related with functioning of business is
highlighted in this report. In addition to this the various types of networking technologies and
importance of social media in a business is also explained. Further more various stages of
software development like cycle is also highlighted in this report.
TASK
Functions of IT in the success and failure of a business
The information technology has changed the functioning of business entities, various
technological changes that has happened are online shopping, use of social media marketing,
cloud computing and so on. The success and failure of any business depends on the right use of
technology by the business and careful analysis of marketplace where the technology is used
(Ahson and Ilyas, 2017).
The role of IT in the success of the business is highlighted below:
 The digital marketing helps business entities to promote their business entities as well as
their product and services through various online platforms, no business can success
without the use of digital marketing or presence on the internet. In context to the Barclays
bank, it is using its own social media platform that is its app to interact with their
customers and provide them their online services(Beirne and Ramsay, 2018).
 Another key to success for the business is satisfying their customers, business needs to
carefully analyse needs and wants of their customers and accordingly fulfil them, one of
they best way to understand their need, demand is through communication. Technology
1