Information Technology's Role, Ethics and Networking in Halifax Bank

This report provides a comprehensive analysis of the role of Information Technology (IT) within Halifax Bank, a British banking brand. It delves into the various functions IT plays in the bank's business operations, emphasizing data management, communication, and customer experience. The report examines different networking technologies such as LAN, WAN, and MAN, and how these technologies facilitate data transfer and communication within the bank. Furthermore, it explores ethical and social issues associated with the use of technology, including security and privacy concerns. The importance of intranet and internet in supporting business operations is also discussed. The report also analyzes different information systems like Management Information Systems and Decision Support Systems used by Halifax Bank. The report concludes with a discussion of ethical issues like manipulating credit ratings and the impact of technology on the bank's operations, illustrating the complexities and benefits of IT implementation in the financial sector.

Introduction to
Information
Technology

ABSTRACT
Information technology refer to those tools and techniques that are used by a company to
operate its business in current business environment. There are different roles that are played by
IT system in business operation of Halifax Bank in its financial execution. There are different
ethical and societal complexities that are suffered by organisation due to high use of technology
in operations. Apart from it different networking technology help in delivering data from one
system to another. With the help of effective information tools the business of the firm can make
development in term of maximising sales, profit and increasing number of customers.

INTRODUCTION
Information technology refers to the utilisation of any computers, storage,
communication equipment and other physical devices, infrastructure and processes to design,
develop, process, store, secure and transaction of all forms of electronic aggregation. In context
of a company, IT refers to the sue of computers and software with the purpose of manage the
information and transfer data to different system of a company (Aasheim, Li and Williams,
2019). This assignment is based on Halifax Bank which is a British banking brand and this
company was incorporated in 1853. The firm is headquartered in West Yorkshire, UK and offer
financial services to cross wise the world. This written document will consist information about
the function of IT in business concern and different networking tool that make contribution in
sharing information. Further, will explain about ethical and social problems, importance of
internet and system development life cycle.
LITERATURE REWIEW
2.2 Information technology and its role business of an organisation
IT has become a vital and important part of each business because help in managing and
maintaining the database and business information in effective manner. According to
Mackechnie C. (2019), It has helped the company, administrator and employees in more
adequate manner to manage and inquire about a specific issue, design new product and services,
developing their productiveness and output. There are several role that IT play in a business and
the description of them as below:
Data management – IT play an important role in managing data and information of a
business related to company, employees and customers. So that the firm can protect itself from
data hackings and data theft. In current era, most organisations store analogue adaptations of
documents on servers and storage devices. With the help of this, company can save its
information in document form and it instantly available to each in the firm. With the assistance
of it, workforce of the firm can also access to the documents as per requirement.
Communication among employees, suppliers and consumers- IT also play an effective
role in making effective communication among employees of a company. With the he,lp of
information technology, the management of the company can interact with it customer s and get
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information about the needs and demands (Avgerou and Walsham, 2017). It will assist in
creating awareness about consumers interest so that kit can offer products as per their taste.
2.3 Different types of networking technology
Network refer to a process in which two or more devices are connected with each to
transaction data with an activity in another device. As per the view of Mitchell B., (2020),
network is consist of group of computer systems, servers, networking devices are interconnected
together to share resources, consisting a printer or a document (Baylis, 2018). There are different
kinds of web applications like LAN, MAN, WAN, SAN, CAN, WLAN etc. and the explanation
of some of them that are mostly used by companies in their business are mentioned as beneath:
LAN- It is know as local area network which is able to deliver information in the area of
1 Km radius. With the help of this networking technology, a company can share information a
distinct geographical are like an office an commercial establishment.
WAN- It refer to wide are network that able to share and transfer information over a large
geographical area. It able to interconnect different small networks, consisting local are and metro
area networks. With help of this tool an organisation can share information to different
computers systems of a country.
MAN- in states to metropolitan are network that interrelates users with computing
machine system in a geographic sphere or location larger than that canopied by a local area
network. With the help of this management of a firm can transfer data to the interconnection of
networks in a city and a business campus.
2.4 Ethics and social issues of using technology
In context of a business, ethical and social issues refers to that problems that are suffered
by the management of the organisation in term of performing activities and operation in a
company. As per the view of Markgraf B., (2020), if the business of a company use different
technology in its business then face several ethical and social issues cause of them. The
explantation of some ethical and social complexities are define as under:
Security- It is the main problem that is faced by the business of companies due to
implementation of practical application (Benckendorff,, Xiang and Sheldon, 2019). When a firm
use information techniques in its business for the effective running of the business then cause of
not having effective security system and software chances of data leakage and data hacking are
high.
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Privacy- It is an issue that is also highly affect the business cause of use of technology.
For instant, company use different IT system to manage information of their customers,
employees, suppliers and business etc. So if the company do not use high security and antivirus
software the information of customer and employees can be leak which create negative impact
upon the firm and its business.
2.5 Importance of intranet and internet in business
Intranet refer to a private network that is utilised for internal communication in a
company where as internet is a world wide are that connects computer systems cross wise the
world. Accordant to Fredman J. (2020), Intranet assist in fulfilling company's digital abstraction
necessity. They offer a unafraids space and storage to store, access and germinate electron data
substantial. In the business of an organisation, with the use of intranet, the administration can
regenerate older business concern solution and can increase big profit in efficiency by speed up
work progress and minimising issues. With the help of it number of employees of a company can
access the similar data file, offline sites that can be tested for practicality.
Whereas internet offers businesses by creating growth options of networking, information
retrieval, communications, marketing and sales (Dignum, 2018). With the utilisation of internet,
the administration of a company can make consciousness about the goods and services of a
company across the globe. With the use of it they can collect data and interact with consumers,
customers, authorities and other individual of the particular business sector.
ANALYSIS AND DISCUSSION
3.1 Role of information technology in Halifax Bank
Different roles of IT systems in context of Halifax Bank is defined as:
Better customer experience- In Halifax Bank, IT plays an essential role in term of
providing effective experiences to consumer of the company. By utilisation of information
technology, the company share information about its goods and services in the market so that
people conscious with existent new financial goods and services (Jakkaew and Hemrungrote,
2017). It will help in offering effective information to consumer and improving the experiences
towards company. By using It system like company website, the management of the respective
firm can take customer's feedback and response regarding products and services.
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Improve organisational communication- Informational technology play a crucial role in
making effective communication in organisation by offering different IT tools and platforms like
email, video chat, conferencing software, internet and company intranet in context of sharing
important information to all and making efficacious abstraction within the organisation. In
respective establishment, with the help of effective tools of information technology, the
employees can share their issues with their senior.
3.1.1 Types of different information systems
Information systems are formal, socio-technical, organisational methods that are planned
to collect, operation, store and allocate information. In a business firm these tools and systems
are used in term of collecting and distributing information within the company at the time of
requirement (Koong, Liu and Liu, 2020). Explantation of some information systems are below
that can be used by the management of Halifax Bank.
Management information system- It is an data system that is utilized for determination
devising and coordination, control, analysis and virtualisation of the data within a company. In
reference to Halifax bank, the administration of the organisation can usage this tool to sum up, it
is a unit or processes by which information is acquired, classified and displayed in an effective
way fro decision making purpose. This tool is very useful to review and control organisation's
operations.
Decision support system- It is a computerised program that utilised to support
determinations, judgements and actions in a business organisation. This information system
monitor massive amounts of information, compiling comprehensive information that can be
utilised to resolve issues and decision making. In Halifax bank, the management of the company
can utilize this technique to support direct data transfer from one function to another with the
retail banking to monitor and determine on consumers account and also for marketing
knowledge about the target audiences.
3.2 Types of Networking technologies that used in Halifax Bank
Networking technologies refers to a group of computer systems that are interrelated with
each other to communicate and share resources, data and applications. There are different types
of networking techniques like LAN, MAN, WAN and many more that used by different business
organisation for transfer and deliver data to a unit of computers (Lloyd, 2017). The description of
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that networking technologies that can be used by the administration of Halifax in its business are
defined as under:
LAN- It refer to local area network that is a unit of commuters that interrelated with each
other in a small area like building, office and floor of the company. In Halifax bank, with the
utilisation of this technology, management can transmit essential information to all the systems
of its office of a particular location and building,. The main feature of this networking tool is that
it is able to share information in 1km radius. This networking technology is less expensive as it
created with cheap hardware like network adapters and Ethernet cables. The main benefit of this
techniques is that is provide high security to information ans the data which is transfer with the
help of it.
MAN- It is another type of networking technology that states to metropolitan area
network and with the assistance of this technique aggregation and information can be deliver in
50 Km radius. In Halifax bank, with the assistance of this tool, the management can share
important message and information to its different computer system of a particular city and town
(Logan, 2020). The ownership and maintenance is handled by either an individual or
organisation like a localised council and a big organisation.
WAN- It is known as wide area network that is used by business organisations with
motive of transmit data and information. In Halifax Bank, the administration can use this
technology with the purpose of deliver important information to its different systems of several
offices of a specific country in which it operating its business. It cover the area of a nation,
country and continental in term of delivering information. With the help of this technique voice
and picture message can be also transfer to other computer system.
3.3 Ethics and social issues in Halifax Bank
Manipulating credit ratings- It is the issues which is occurred within the financial
companies due to making fraud in term of rate. In Halifax bank, these kind of issues arise in the
company at the time of rating on the basis of effective services and products of the company. For
example, this kind of problem can be suffered by the respective when the rivalry firm of it make
fraud and offer money to rating manager and agencies to put them on best position in term of
gaining more profit. Then it create negative impact other companies like Halifax in term of
offering better financial services comparison to fraud company.
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Mis-selling of securities- It is another issue that is highly faced by financial companies.
This kind of scandal generate by the employees due to accomplishing their set target. For
example, in Halifax bank, if the management of the firm provide a particular target to employees
regarding the sales of its products and services (Long, 2018). So to achieve their goal, they sell
wrong product and security to wrong individual and entity. For instant, a insurance product can
be sales to a person by representing it in wrong manner either it is not able to fulfil consumer's
needs. This can be negatively affect the brand images of the company in the situation of, when
the individual make a complaint regarding it.
3.4 Importance of intranet and internet in Halifax Bank
Intranet define as a private interment connection that is used by a company to make
effective communication within the firm (Luftman, Lyytinen and Zvi, 2017). In context of
Halifax the importance of this tool is a under:
Improved employee engagement- With the help of intranet, the company can make
development in employee engagement. In Halifax bank , with the assistance of it, company can
offer accurate and needed information timely and employees are also aware with a little thing
like formulation of new policies, change and training program etc. that is happing within the
company. Apart from it employees also share required information to each other in easy and fast
way. It will assist in developing employees involvement in company.
Strong communication- Intranet is important because with the help of this tool
employees can deliver their ideas and constructive feedback to administrator and management
can make transparency with staff. In term of respective company, the employees of it can easily
share their issues and complexities with their seniors and get effective solution. It will help in
making good bond among employees and employers within the respective firm.
Internet refer to use of different communication channels and tool or techniques that are
able gather and supply information inside and outside the company. The importance of Internet
in context of Halifax is mentioned as below:
Improved business productivity- Internet is beneficial to develop the business
productivity in term of getting attention of consumer by providing information about the
financial product and services of respective company and maximising sales (Marouf and et. al.,
2018). In addition to it, online investigation instruments banking actions and other programs can
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permits staff members to investigation proceedings and resolve banking queries on their own,
without making interaction with bank workers.
Lower banking costs- Banking relations and reimbursement are often supported to assets
necessities. In Halifax bank, with the use of internet, the company can use different
communication tool to provide information or by creating an account and by signing in it the
firm can use different advertisement techniques. It consist less cost which is an efficacious
benefits to company.
3.5 Explain the different stages of system development life cycle
It is known as the application development life cycle that include various kind of factors
like planning managing, controlling and utilising information technology systems in an
organisation to manage and organise workforce in effective manner (Mikalef and Pateli, 2017).
System development life cycle used by companies in term of implement new information
technology in the business to minimise and reduce business issues. The brief description of it is
mentioned as under:
Planning- It is the foremost step of this cycle that help in determining the needs of the
company in context of minimising problem in well define manner. It is effective to make
accurate planning and execute those plans and ideas in term of resolving issues. For example, if
the problem is arsing cause of ineffective product and service then the plan can be create in order
to produce effective goods and services.
System analysis- In this phase, the company analyse the end user need regarding work
and expectation to system. For instant, if the IT department is not using effective IT tools in
business and employees re not perform their duties by using them. Then, the company should
effective technologies that are able to provide expected outcomes to workforce and they do their
in accurate manner.
Implementation- After doing system analysis, the management of a business should
adopt effective technology and IT tools that are beneficial to make contribution in business
growth and development in term of maximising profits and revenue. The administration should
make proper implementation of IT tools in context of training, reducing issues and delivering
information to market etc.
Maintenance and support- It is the final stage of this cycle and consider all forms of acts
where the owner of the firm and manager will organise maintenance act by measuring the
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performance of IT systems like software etc. In this phase effectiveness of security system is
identified (Nieles, Dempsey and Pillitteri, 2017). Apart form it, it include offering latest update
to the certain factors to assure the end of information application.
CONCLUSION
From the preceding information it can be summarise that information application is an
effective resource that make contribution in success of a business in term of offering data about
the goods and services of an organisation and developing market shares. The re are different
networking technology that help in transmitting data one system to another. Several ethical and
societal issues are faced by a business concern due to technology that affect brand images of a
company. Internet and intranet help in making communication inside of outside the business
organisation with employees, customers etc. system life cycle assist a company in minimising
the issue related to IT system in a business.
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REFERENCES
Books & Journals
Aasheim, C.L., Li, L. and Williams, S., 2019. Knowledge and skill requirements for entry-level
information technology workers: A comparison of industry and academia. Journal of
information systems education. 20(3). p.10.
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