Standard Chartered Bank: IT Impact, Ethical Issues, and Networking

This report analyzes the influence of information technology on Standard Chartered Bank, exploring its contributions to both success and failure. It delves into ethical and social issues pertinent to running a business, such as accounting practices, social media impact, decision-making processes, and the importance of diversity and privacy. The report examines various networking technologies including LAN, WAN, and MAN, highlighting the significance of intranet and internet for business operations. It also outlines the different stages of the system development life cycle and concludes with a comprehensive overview of the impact of IT on the bank. The report underscores the importance of IT in communication, data management, security, and overall business efficiency, while also acknowledging potential risks like dependence on technology and the rise of cyber threats. References and a table of contents are also provided.

Introduction to information
technology

Abstract
In this project we are going to prepare how an information technology effects the
working of the bank. In the below project we show the role of It in the success and
failure of the standard chartered bank. The issues that effects the running of the
business that consist social and ethical issues. Use of different types of the network
that helps in communication of the business. The importance of the intranet and
internet in the success of the standard chartered bank the use of the internet in the
success of the business. This project provides guidelines to plan for the business
and how to prepare the different stage of system development cycle.

Table of Contents
Introduction......................................................................................................................................4
Role of IT in the success and failure...........................................................................................5
Ethical and social issues that pertain to running a business........................................................6
Different type of networking technologies.................................................................................7
Importance of intranet and internet in your business..................................................................9
Different stage of system development life cycle.....................................................................10
Conclusion.....................................................................................................................................11
References......................................................................................................................................13

Introduction
Information technology helps a business to communicate in the organisation. It provides
facilities to the business to operate smoothly in any environment. IT department of the company
is responsible for proper running of the business if in an organization the computers or any
technical device is not working in the business. The business performance is largely depends on
the effectiveness of their IT department . IT technologies is largely depended on wireless system.
IT is responsible for the efficiency of their business. IT helps in providing security to the
business. It is responsible for the growth of the business. It provides the speed and accuracy in
the working of the business.
Literature Review
The information about the market like exchange rates with help of internet helps banks to
gather information about the market. IT helps standard chartered bank to communicate with all
other branches of the bank it helps in to maintain flow of information in the bank. Improves the
marketing techniques of the business. IT helps the bank to establish their future development in
the business. Helps standard chartered bank to take important decision for the success of their
business. Helps bank to solve their problems like each ans every information of customers are
secure in so without an OTP and password no one can use the bank account of the customers.
Role of IT in the success and failure
Standard chartered is one of the leading bank in U.K. And provide their services all over the
world. There headquarter is situated in London.
Role of IT in success
Information technology plays a important role in the success of the bank. Use of IT
systems like computers and telephone helps standard chartered bank to get information about
their clients. IT helps banks to communicate with their clients, customers and the employees over
different departments. It helps bank in controlling the flow of the cash in their business, IT helps
the bank to maintain data of the business, It provides the speed in processing of the business like
a customers wants to withdraw money from bank the ATMs are available for them, IT helps in
reducing human workforce and simplify the work of the employees(Rajaraman, V., 2018.). IT
provides security to the transaction of the customers with proper authentication system of each
and every customer and also helps the bank to maintain all the accounts.

Role of IT in failure
Information technology is important for the success of the bank. Due to increase in
technology day by day it makes bank business to shift online and standard chartered bank
becomes more dependent over the online technology. If the internet or system stops working
then it becomes tough for bank to operate, customers face problems while doing transaction,
misuse of data or lost of data due to technical problems become a reason for the failure of the
standard chartered bank. Due to use of the internet and development in technology increase in
fraud and hacking increases it effects the customers interest in the business theft of money and
faulty transactions occur(Dutta, S., Geiger, T. and Lanvin, B., 2015.) . Largely dependence over
the technology the employees of the standard chartered bank become lazy and become a reason
for the failure of the business.
Ethical and social issues that pertain to running a business
Ethical issues in running the business
Accounting
Banking sector largely depends on their accounting and if the accounting of the business
is not perfect the success of business effects. Accounting is used to maintain the data of business
and activities relating to finance. If the accounting of the bank is not perfect then it will mislead
the financial statement of the bank .
Social media
Social media is a online platform which increases day by day and involvement of the
employees of the bank(Smith, L.C. and Wong, M.A. eds., 2016.). Due to a large impact of social
media on employees they waste their time over the social media and it effects the success of the
business. Sometimes negative posts related to work environment from the employees or
customers effect the image of the bank in the market.
Technology
Technology provide security and development of the business with technology the
business owners can analyze the work of the employees. Technology helps in maintaining the
smooth working of the business and gather information about the customers and competitors in
the market.
Decision making

Decision making is important task for every business. In banks the decisions are taken
regarding the proper facts and figures of the accounts(Tarafdar, M., Gupta, A. and Turel, O.,
2015.) . Decisions regarding the welfare of the customers.
Diversity
The banks need to introduce new innovations for the effective and smooth working of
their business. The diversity helps to provide opportunities and improve the efficiency of the
business.
Protecting privacy
The protection to the privacy of the business is important. Because day by day increase in
the technology the frauds are also increases and its duty of a bank provide safety to the accounts
of the customers the companies or banks who didn't follow ethical issues about protection its
become a problem in the future.
Social issues in running the business
Poverty
Poverty is one of the main reason that stops the bank from developing their business
because the people who are not able to fulfill their basic needs how can they able to open a
account in the bank. The people who have account in the bank.
Illiteracy
Illiteracy rate in the nation stops the business to develop(Rivard, S. and Aubert, B.A.,
2015.) . In banks the customers who are illiterate are not able to understand the function and the
technology of the bank system and become a victim of fraud.
Unemployment
Employment of the people is a major reason for the success of the business. In bank
sector the people who are unemployed are not able to open an account in the bank. Due to their
unemployment the banks will incur losses and it becomes the reason in the development of the
bank.
Lack of infrastructure
Infrastructure development of area where business operates is important for a business to
be successful. Infrastructure facilities will affect the working of the banks in the market.

Different type of networking technologies
LAN WAN MAN
LAN is mainly a small
network connects with short
distance. Mainly used in
apartment, schools, offices.
LAN builds a connection with
telephone lines. LAN can be
operate in a single room. The
local area network security
depends.
WAN stands for wide area
network is a computer
network. The WAN is
different from LAN it covers
not only one organization it
covers a region not build only
at a specific region. WAN
used to connect other different
types of the network to
connect with other locations.
MAN is a network that are
larger than LAN but smaller
than the MAN(Bawden, D.
and Robinson, L., 2015.). It
connects with several local
networks . MAN is high speed
internet connectivity network
use fibreoptic cable and copper
wires. MAN is both public and
private network. MAN
provides a better security.
LAN data sharing is fast as
they are used in limited
distance. Local area network
is a network which can make
connection between few
computers and has its
boundaries inside the
geographical area the group of
devices are connected with
each other by some switches
and gives access to the
specified protocol
WAN covers optic wires,
microwaves and satellites.
WAN networks are quite
similar but very different from
local area network(Schwalbe,
K., 2015.). WAN requires and
allows a huge group of
computers can connect and
communicate at the same time.
MAN covers modem and
wire/cables. where it comes to
MAN multiple computers or
systems can easily connect
simultaneously and
communicate. This network
works on large scale as
compare to the LAN the area
covered by MAN is around !0
to 60 km. This network acts as
a link between LAN and WAN
to connect with help of the
internet. MAN can use cable
TV network, Telephone wires
LAN allows a single pair of
devices to connect and
communicate. LAN allows a
Wide area network clears by
its name as it is wide in so it
can be shared at the wide or
MAN can connect two
different types of local area
network. MAN is less costly

single pair of devices to
connect and communicate.
LAN ownership of network id
private and remaining two
have private and public
large area or covered in the
large area it is way more
complicated than local area
netwrok or metropolitian area
network because of its wide
area.
than WAN helps in managing
and handling data. MAN is a
fast network it increases the
speed of the internet with help
of the optical wire.
Metropolitan area network is
larger than local area network
metropolitan area network is
designed for the users who
need the high speed internet on
their network it can share
between two cities or in the
same city as well.
Importance of intranet and internet in your business.
Intranet Internet
The intranet is a network which is owned by an
individual and organization for their private use
the intranet is working with LAN, WAN,
MAN. The intranet is useful for the project
management it helps the organization to reach
and manage important information. The
intranet helps employees to know their roles
what they have to do in an organization. The
intranet requires web server to manage all their
works.
Internet nowadays is essential for smooth
working of the business. The internet is useful
for human beings for their day to day
activities. In banks internet is useful for each
and every transaction it connects with all over
the world and connects to get all information
about their clients. The day to day activities of
the banks is largely depends on the internet
Intranet is important for Standard chartered
bank because it provides firewall to the bank
which helps in providing security to the
accounts of the customers(Turel, O., Soror, A.
Internet helps the employees of standard
chartered bank for the development of the
employees to provide the services of the banks
to their customers more easily and effectively

and Steelman, Z., 2018,) . Firewall stops the
outside or unwanted network to enter in the
organizational network.
to build and effective customer relation.
Intranet helps standard banks to improve their
communication in the all departments of the
bank. Helps bank to manage their employees.
Internet helps the standard chartered bank to
increase the speed in their work and their day
to day activities. It brings accuracy in their
work. Information sharing about new offers
and policies of bank to customer becomes
easy.
Intranet helps in time saving for the bank it
helps in building communication in the bank
with help of this important information easily
passed to different employees or in different
department of the bank.
Internet is available 24/7 and bank provide
their services on internet for 24 hours a
customer can easily access in his account
anytime, anywhere and can do all the banking
activities.
Intranet reduces the cost of the bank and
effective management of the bank day to day
activities.
New customers can easily attract to the bank
because the internet helps bank to advertise
their product. It minimizes and simplify the
work of the customers.
Different stage of system development life cycle
System development life cycle help business to manage their recent work and customers
and helps them to know how they engage new customers and implement new policies in their
business. This system acts as a reboot system for business.
Planning
Planning is a first phrase in the development cycle it helps business to prepare the plan
for their existing as well as new activities in business. Helps business to know the problem and
with the help of guidelines prepare an effective plan for the development of their business.
Proper planning for the new activities and decision regarding helps business to operate their
business more smoothly and effectively(Pekkola, S. and Päivärinta, T., 2017,) . Planning shows a
problem in the business and helps in minimizing those problems.\

Analyzing
In the analyzing stage businesses analysis the effectiveness of the plan. This analysis
helps business to shortcomings in the plan if any problem or inefficiency arises in the business.
Analyzing what customer want and their expectation from the business. Helps to know the
resources available to the business for the success of the plan.
Design
The analysis of the resources available and with guidelines from the plan the design is
prepared according to the plan for the success of the business. Design means prepare where to
start work who will do the work.
Testing
After the design the business test the effectiveness of the design if it is able to achieve the
business objectives or not this test helps business to go further on the plan.
Implementation
Implementation means after all the required analysis the plan is implemented in the actual
work this implementation is done on the basis of the plan prepared and according to the
design(Baller, S., Dutta, S. and Lanvin, B., 2016.). The effective employees who are selected on
the basis of their skills and abilities are assigned on their work ans started the activities.
Maintenance
The maintenance is after the sales stage when the product reached to the customer. The
maintenance team of the business start their work if any problem or fault arises in the product of
the company then it is a responsibility of the company to solve the problem of their customer.
Conclusion
In the above report it was shown how information technology effects the success of the
business and the role of IT in success and failure of the business according to this report IT plays
an important role for the communication in the standard chartered bank and ethical and social
issues can effect smooth working of the business. Different network technologies are important
for a business to conduct their day to day activities for the development of the business. The
internet is important for standard bank to operate their activities and effective use of intranet to

secure the accounts of their customers. Use of different stages of the development cycle to
initiate the business and for continue flow of their business.
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