Role of Information Technology in Business Growth and Success

REPORT

ABSTRACT
Objective of this study was to understand the role of information technology in the growth and
success of business. For understanding the importance of information technology and different
networking technologies and where they are used. Importance of internet and intranet in business
will be identified in this business. Also it will give understanding of the stages of system
development life cycle.

TABLE OF CONTENTS
ABSTRACT....................................................................................................................................2
TABLE OF CONTENTS................................................................................................................3
INTRODUCTION...........................................................................................................................1
LITERATURE REVIEW................................................................................................................1
ANALYSIS AND DISCUSSION...................................................................................................2
Role of IT in success and failure of HSBC..................................................................................2
Ethical and social issues in organization.....................................................................................3
identify and differentiate between different types of networking technologies,.........................4
discuss the importance of Intranet and Internet in your business................................................6
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................9

INTRODUCTION
Information technology brings innovation to businesses. Innovation in businesses have
same impact as that of steam in industrial revolution. A business that has not been benefited from
Information technology. It is helping companies in becoming more productive, increasing their
performance saving their costs, improving customer experiences , streamlining communication
& enhancing decision-making process. It is improving the organisational communications it has
provided platforms like conferencing software, video chats, email, internet and intranets in
general. Today for success companies are bringing innovation through use of IT. It is playing an
important role as it is helping organisations in managing their daily operations that are essential
for success of business.
It is helping companies to expand over international scales. Companies are able to
maintain their business records and operations efficiently at cheaper rates using enterprise
software & centralised databases. IT has facilitated with improved customer services, customized
marketing & e -commerce. Business organisations are growing with enormous rate with the help
of information technology. Information technology has eased the process of decision-making ,
companies are available with data about the performances that helps them to make proper
decisions. Everything around us developed with help of information technology be it anything.
Life cannot be imagined without the information technology not only for business but also at
individual level. Businesses are seeing growth due to information technology as every process is
made faster and cheaper.
LITERATURE REVIEW
In the view of Liberti and Petersen, (2018) information technology is playing vital &
integral part in business plans of company. Every organisation starting from MNCs maintaining
mainframe information system and databases cannot survive in the current market. Every
organisation is using information technology for enhancing its performance and increasing its
growth. Business environment is dynamic and faces rapid changes due to technological
innovation, awareness and customer demands. Banking sector is operating under competitive and
complex environment which is changing continuously and economic climate that is
unpredictable. HSBC has been recognised that IT is playing significant role in contemporary
enterprises.
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