Research Project Assignment - Impact of Digital Technology on Business (Barclay Bank)

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Research Project
Table of ContentsTOPIC:............................................................................................................................................1Introduction......................................................................................................................................1Literature Review.............................................................................................................................3Research Methodology....................................................................................................................7Data Analysis...................................................................................................................................9Recommendation...........................................................................................................................19Reflection.......................................................................................................................................20Conclusion.....................................................................................................................................21References......................................................................................................................................22Appendix........................................................................................................................................24Research Proposal Form................................................................................................................26Research Ethics approval form......................................................................................................29
TOPIC:“To determine the impact of digital technology on business activity. A case study onBarclay's Bank”.IntroductionDigital technology has revolutionized the way of conducting business or its activities atlarge scale. In addition to this it is being seen that from last decade there has been tremendouschange in business models and as well as transformed the different business activities into newand effective operations. The use of digital advancement like mobile technologies, cloudcomputing, artificial intelligence etc. has lead the business towards successful growth andopportunities (Agwu, 2018).Digital technologies has enabling the existing operations andproducts to become more profitable and with the help of innovative tools, new operations andfacilities are developed that Lead the business to achieve competitive edge in marketplace.Inthe banking sector, digitisation has evolved various information in providing effective and easyservices to their potential customers or clients. In the present research project, Barclay's Bank isthe chosen organisation. It is a British Multinational investment bank and financial servicescompany. The headquarter of the firm is in London, United Kingdom. Apart from the investmentbanking, Barclay's also deals in four different segments like personal banking, investmentmanagement, wealth management, corporate banking.Research AimThis can be considered as the primary aspect of an investigation which represents themajor target of the research (Bátiz-Lazo, 2017). It is a clear and concise statement in whichresearch issues is mentioned with the support of dependent or independent variable. Thepotential aim of this particular research is :"To determine the impact of digital technology on business activity". A case study onBarclay's Bank.Research ObjectivesResearch Objectives are refers as clear, declarative, concise statement which assists theresearcher to investigate research variables in appropriate manner. The research objectives areinterlinked with aim of the investigation report and majorly focuses on the ways to analyse the1
variables that represents the aim in appropriate manner. The essential objectives of the researchare associated as below:To understand the concept of digitalisation and its different tools and technologies.To analyse the potential measures of Digital technologies that are used by Barclay'sBank.To ascertain the influence of Digital technologies on the operations of Barclay's Bank.To access the relationship between digital technologies and Growth of Barclay's Bank.Research QuestionsResearch Question is determined as the fundamental core of an investigation report. Itbasically focuses of the literature through determining actual methodology and guides all thestages of research like analysis, reporting etc. This art of the research plays vast role inconducting the section of literature review through the support of research aims and objectives(Berry, Deddis and McGreal, 2013). The appropriate research questions that covers the aims andobjectives of this particular research are determined as under:What is the concept of digitalisation and its different tools and technologies?What are the potential measures of Digital technologies that are used by Barclay's Bank?What is the influence of Digital technologies on the operations of Barclay's Bank?What is the relationship between digital technologies and Growth of Barclay's Bank?2
Literature ReviewLiterature review is one of the most important aspect of the research which helps theinvestigator in conducting in depth evaluation on a research issue. Literature review is alsoconsidered as a scholar paper that involves the present knowledge in regards to the substantivefindings and the theoretical or methodological contribution to a specified research issue (Bonesand Hammersley, 2015).The concept of digitalisation and its different tools and technologies.As per the views expressed by Ashikuzzaman, 2016, Digitisation is considered as aprocess of converting information and data to digital format for processing through a digitaltechnology like computer system etc. The concept of digitisation is different from the term ofdigitalisation. Digitalisation is also considered as the process of leveraging digitisation toadvance business processes.Digitalization is also analysed as the process of creating digitaleverything that can be digitized and the process of converting information into digital formatwhich can be recognised through the digital devices(Bowdin and et. al., 2012). Digitalisationinvolves various technologies like computer system, social media, cloud computing, artificialintelligence, mobile technologies, applications etc. Thus, all these tools has lead the business toachieve successful growth at a global level. Digitalisation has plays equivalent role in changingthe traditional business processes into modernised operations.The potential measures of Digital technologies that are used by Barclay's Bank.As per the opinion of Stuart Greer, (2018) In the modern era the usage of digitalisation isvery required as it helps each business or an individual in attaining growth and success within themarket place. Over the last few years there has been a quite revolution happening at the Wokingplace of Barclay's Bank; its re invention through a bank to technology organisation. Now a day'scomputers are getting more sophisticated as they are effective in providing banks a potential fordream in regards to providing highly effective customer services in respect to reaching at theexpectation of the customers.Changes in the technologies helps the banking sector in deliveringthe appropriate services to their potential clients,thus it also effective in creating highercompetitive edge for the firm over its rivals(Bwalya, Mnjama and Sebina, 2014). There arevarious measures that are used by banking sectors for making more effective operations,however in which some are associated as below:3
E-Banking:With the help of graphical user interface it enable a bank to render corporateor high value buyers. This tool is basically appropriate for the customers to get proper inquiryabout its financial transactions, accounts, check book details, bank transfers etc.Tele banking:This is also recognised as the essential tool which provides 24 hoursfacilities for inquiry about the transactions or balance of a particular account over a mobilephone.Remote Banking:These Remote terminals are beneficial for the perspective ofcustomers, with the help of this different customer are interconnected. In addition to this itenable the clients to make inquiries In respect of Online mode of payment, accounts. Thus itsaves the time of the customers too as they don't have to travel long distance to sort out theirinquiries.Telephone Banking:When it comes to telecphone banking it is termed to be an essentialtool asBarclay's Bank is considering to lead the path through enabling voice recognition tool forall of its potential customers (Shanmugam and et. al., 2015). Additionally it uses this facility forproviding more secure and reliable services to their customers.The influence of Digital technologies on the operations of Barclay's Bank.According to Mary Benjamin, 2018, Digital technology has great influence on theoperations of Barclay's bank. Technology has some positive as well as negative influence on theoperations of banking sector of Barclay's, some are associated as below:Positive Impact:Digital technologies are effective in making, the banking process more faster and reliable.the appropriate maintenance of documents and records have become more easy andsuitable(Clarke, 2011).Computerized banking also develops the core banking system. With CBS (core bankingsystem) all banking branches have access to common centralized data and areinterconnected with each other.Technologies are effective in facilitating better services such as passbook print machineand cash deposit machine. Barclay's Bank is majorly concern about satisfying the needsand wants of customers through facilitate them reliable and appropriate banking services.Negative Impact:4
The major negative influence of technology is loss of jobs as automation has replacednumber of jobs in Banking Sector.The increasing threat of cyber attack, a loophole in system creates issues for the firm orits customers in terms of realising of personal information (Famiyeh and Twum-Barima,2011).The digital technologies consumes less time, and it also sometimes makes peoplecareless-that creates loss of personal details, many debit cards details of big banks werecompromised.As a large banking industry Barclay's Bank is using safe and secure digital technologiesin order to ensure their customers about the safety and security of their money and personalequipments.The relationship between digital technologies and Growth of Barclay's Bank.According to the perspective of Falk Rieker, 2018, The digital transformation isconsidered to be different in every business industry. Proper integration of digital technologiesare effective for the growth and development of the banking industry (Epstein and Buhovac,2014). Technology is at core of each conversation that an individual have with a firm inbanking and insurance sector as they look towards transform as well as optimize their businessoperations in respect to developing more benefits and growth. It must be main part oftransformation strategy for an organisation. Barclay's majorly deals in large financial sector andthe organisation is growing at continuous basis, the organisations workforce is also increased dayby day in respect to developing the offerings of the firm at global level (Goffin and Mitchell,2016).The digitised working environment will ease some of the operations and processes oforganizations such as making online transaction, the attendance of staff members by digitisedtool such as punching machine etc. because through this organisation will able to assure thatpeople are not facing any difficulty to work in bank.5
Research MethodologyType of InvestigationResearch is considered to be a crucial process and selection of the type of research istotally dependent on researcher. Mainly investigation is categorised into two types; these arequalitative or quantitative research (Levy and Peterson, 2013). The method that has been chosenfor purpose of this specific research is Qualitative Method as result given through this tool iscertain and are of assumptions as well as thesis which can be understand through learner inappropriate manner.Research DesignThis is the most essential piece of an exploration work as it refers as the blue print of theresearch which determined the systematic analysis of the overall investigation in specifiedformate. This section is mainly categorised among three major types like descriptive, exploratoryand experimental research design (Morabito, 2012). In this existing research project, descriptiveresearch design has been applied by the researcher as to providing significant support to thequalitative research., thus it is the most appropriate design for the qualitative investigation.Research PhilosophyIt is mainly focused with right source and Knowledge Development. It can also be seenas a way for data recording and data analysis for an investigation work. This is divided into twosection. Interpretivism and Positivism. In the current research work interpritivism philosophy hasbeen applied by the researcher for the purpose of accumulation of reliable information forcompletion of the qualitative investigation.Data CollectionThis recognised as the most appropriate source of research methodology. Aninvestigation work is majorly depends on information and data which are collected throughinvestigator for the purpose of completion of the work in appropriate manner (Martin andTownroe, 2013). This segment of the exploration is divided into two types one is primary andother one is secondary source of data collection. In this mention investigation work bothsecondary as well as primary sources are applied by the researcher in respect to accumulation ofvalid and reliable information. Primary source is effective in conducting the section of dataanalysis through accumulation of data by questionnaire and on other hand secondary source is6
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