BMM3003 Portfolio: HSBC IT Services in Business Operations

This portfolio examines HSBC's utilization of information technology (IT) services within its business operations. It highlights the crucial role of IT in data storage, analysis, and decision-making, while also addressing the challenges faced by HSBC, such as maintaining technical equipment, ensuring data security, and combating threats like identity theft. The portfolio emphasizes the importance of strong password systems and frequent security updates to protect customer data and maintain the organization's reputation. It concludes that adopting advanced technology is essential for the survival and success of businesses like HSBC, and that overcoming IT-related challenges is crucial for smooth operations. Desklib provides a platform to access similar solved assignments and past papers for students.

INTRODUCTION TO
BUSINESS
OPERATIONS AND
MANAGEMENT
TASK 4: CLASS DISCUSSION

HSBC OVERVIEW
Organization chosen for the operation strategy is HSBC which
is one of the leading international investment banking
companies established in 1865 and headquartered in the
United Kingdom. It also provides online banking services to
the customers

INFORMATION TECHNOLOGY SERVOCES
Chosen business area which the organization faces on a daily basis is the information Technology
services. Basically the information technology in the banking sector is used in order to record the
sophisticated information and communication technologies together collaboratively with the
computer science in order to enable the banks to offer better services to its customers in a secure
and reliable manner. It is affordable and sustainable in nature which also provides a good
competitive advantage over other banks. Information systems used by HSBC in which organization
are used by each and every department including human resource and finance along with the market
in it and other departments (Seidmann, Jiang and Zhang, 2019).

CONTRIBUTION OF IT SERVICES
The entire data which is confidential or personal is all stored in the
information systems for better data analysis and decision making in the
organization so that the future consideration can be made in an appropriate
manner. This is the area where the information Technology services
contribute in the overall business but it also faces the challenges on a daily
basis.

CHALLENGES IN HSBC
Challenges related to the servicing and maintenance of technical equipment along with its safety
and security behavior. This is because maintenance cost of each and every technical equipment is
expensive but updates are required in order to implement and execute the safety of the private data
so that the organization can save its big data from breaching and to avoid Data loss in the
organization. The reason being is that the data is related to the customers which contains the
personal details and that is because the high and stable security systems are required in the bank.
HSBC could not operate without the information Technology services because nowadays online
banking is preferred more than walking in the banks

IMPORTANCE OF IT SERVICES
Survival of the business without the adoption of advanced technology
is next to impossible in today's era. that is why the business area of
information Technology services contributes to the overall business
and without which the business could not operate its functioning in a
proper and strategic manner.

OTHER BASIC CHALLENGES
Challenges faced by the organization are such that identity theft and
social engineering are the major concerns by the banking systems
because they directly attack the personal details of the customers
which can hamper the organizational reputation and customer
retention towards the company

SOLUTIONS
It is required to get resolved in order to manage the password system from weak to
strong so that cracking of the password should not be easy for the hacker. Moreover
updates to the technical equipment on a frequent basis are essential in order to update a
security system so that the detection of any viruses and other harmful attacks can be
rectified on a timely basis. Therefore information Technology services are important to
adopt in the organization by rectifying the challenges on a daily basis so that functioning
of the organization can be smooth in nature (Akhtar, Khan and Frynas, 2020).

REFERENCES
• Akhtar, P., Khan, Z. and Frynas, G., 2020. This is a repository copy of Essential micro-
foundations for contemporary business operations: Top management tangible competencies,
relationship-based business networks and environmental sustainability.
• Seidmann, A., Jiang, Y. and Zhang, J., 2019. Introduction to the Minitrack on The Impact of
Digitization on Business Operations.