The Role Of Information Technology In Businesses 1

Assignment 1

Impact of Information Technology

on business operations of The
World Bank

Student ID: S208611

Student name: Robert-Mihail Chirobocea

BA in Business Studies (Foundation Year)

University of Suffolk

Date of Submission: 30.03.2020

I declare that this assignment is all my own work and that I have acknowledged all materials
used from the published or unpublished works of other people. All references have been
duly cited
 The Role Of Information Technology In Businesses 2

1. Abstract
The research aims to evaluate how information technology enhances the success of
businesses. IT has played an integral role in running business activities, including human
resource management and driving of information initiative within these stated businesses.
The past few decades have witnessed an intensive revolution on communications and
computing, many companies have greatly benefited from this revolution. It is predicted that
information will still play an integral role in advancing the ease of operation of businesses.
The use of information technology in business management has many benefits, and from
these benefits, most businesses have become profitable and have also attracted many
customers. With the help of information technology, businesses can quickly introduce
products and services to the market. The impacts of ICT have thus resulted in the
transformation of businesses from just industrial societies to informational societies.
Further descriptions will, therefore, be provided in this paper on the application of
information technologies in modern-day businesses and the viability of internet usage of
businesses to gain a competitive age for businesses. The research will also be focused on
ethical issues relating to information technology and, finally, how the use of information
technology impacts on the management of the businesses. The World Bank was used for this
particular case analysis.
 The Role Of Information Technology In Businesses 3

Contents
1. Abstract.........................................................................................................................................2
2. Introduction...................................................................................................................................4
3. Literature Review..........................................................................................................................4
3.1 Information Technology and its role in retail business in general...............................................4
3.2 Ethics and Social Issues of using technology in general..............................................................5
3.3 Networking Technology, different types in general......................................................................6
3.4 The importance of Intranet and Internet in business in general...................................................6
4. Analysis and Discussion................................................................................................................7
4.1 Role of IT in the Success Story of World Bank.............................................................................7
4.2 Types of Networking Technologies that used the World Bank.....................................................8
4.3 Ethical and Social Issues.............................................................................................................9
4.4 Intranet and Internet..................................................................................................................10
4.5 Different Stage of System Development Life Cycle....................................................................10
5. Conclusion...................................................................................................................................11
6. References...................................................................................................................................12
 The Role Of Information Technology In Businesses 4

2. Introduction
Information technology has played a significant role in the transformation of the
operations of the World Bank. Information technology is an integral part of the World Bank
and is continuously involved in the execution of different activities at the Bank. Research on
the World Bank reveals that the use of mobile phones, computers, and the internet has
become a significant component of the World Bank. Just like in other organisations, with the
help of technology, many workers at the World Bank can now efficiently work in the comfort
of their homes without necessarily visiting the business premises. The use of technology has
enabled workers to execute their tasks even if they are on the move (Dubey and Verma,
2020). ICT training services are just an example of how the World Bank is using the current
technological advancements to achieve business success.
From the previous findings, the issue of technologies in modern businesses must be
coupled with appropriate ethical measures so that the World Bank does not violate the
accepted business ethics. With increased technological advancements, businesses have
become quite competitive and many companies have, therefore, used computers to transform
the operation of their business. With the array of the technological tools available at the
World Bank, the institution, through its employees, has managed to automate specific
business processes. Through the evaluation of the World Bank, the research has drawn
certain key and necessary findings on how the internet and other technological improvements
have impacted on the World Bank. Constant advancement in technology comes with issues
relating to the ethics within most banks. With proper ethics, the World Bank is deemed to
have practical business management and may play an essential role in terms of pushing the
succession of the business onwards.

3. Literature Review

3.1 Information Technology and its role in retail business in general

In the view of Luftman, Lyytinen, and Zvi ben (2017), technology is instrumental in
the operation of most global institutions. With the availability of software systems,
technology has immensely contributed to ensuring that the operations of the World Bank are
safe and are not susceptible to any form of a security breach (Luftman, Lyytinen, and Zvi
ben, 2017). According to Trantopoulos, von Krogh, Wallin, and Woerter (2017), it was
further discovered that technology could only promote business success if all the available
technological systems at the World Bank are effectively integrated within the company. The
 The Role Of Information Technology In Businesses 5

use of technology can be used for human resource management. Modern businesses can
easily track the behaviours of their employees and the administration in general. It is an
effective mechanism that illustrates how ethnological applications in businesses can foster
effective operations of such businesses (Mundial, 2013). The use of IT can enable the World
Bank to track feedback and the opinions of the customer and stakeholders of the organisation.
With the received feedback, the World Bank will quickly grow to gain more returns from its
business operations (Trantopoulos et al., 2017). Therefore, it supports the fact that technology
is indeed a requirement for smooth operations and management of such organisations. The
above presentations confirm the fact that technology plays a central role in terms of ensuring
the successful functioning of the most boon.
According to Nulens (2017), it was stated that the intensive use of technology in
modern businesses has called for limitations pertaining to the violation of human primacy.
Trantopoulos et al. (2017) agree that technology can violate an individual's privacy breach
and may affect their personal life. Trantopoulos et al. (2017) state that the ethical principles
embodied by the World Bank are the other main benefits that come from the use of
technology in business. They include internet banking technology, the use of smart card debit
cards, and the incorporation of telebanking. All these technological mechanisms have
contributed significantly to improving the overall speed of operations of banks. It was
discovered that internet technological office is another technological platform availed by the
World Bank with the main aim of achieving more success

3.2 Ethics and Social Issues of using technology in general

According to Ballwer and Lanvin (2016), it was stated that product development
underwent the following stages: planning, system requirement and analysis, system design
and development, the integration and testing process, and finally, the implementation process.
In the view of Luftman, Lyytinen, and Zvi ben (2017), these system development processes
are quite crucial for any business and more importantly, the banking sector. Studies by
Luftman, Lyytinen, and Zvi ben (2017) and Trantopoulos et al. (2017) show that
technological processes can be easily integrated into the daily operations of businesses. With
the demands that come with the innovation processes, the World Bank has partnered with
many institutions ranging from governments and NGOs to support specific projects with the
primary aim of finding solutions to certain global or more specific business problems. It was
discovered that the role played by ICT in fostering business growth is quite obvious and this
 The Role Of Information Technology In Businesses 6

claim was supported by Nulens (2017), who stated that World Bank had immensely benefited
from the technological advancements witnessed in the last decade.

3.3 Networking Technology, different types in general

Infrastructure security depends on the correct use of the network components. Network
components are an essential aspect of the computing environment to improve the
performance and security. The network components such as routers, switches and cables
connect to the firewalls and gateways that manage communication from the network design
to the protocols employed. The effect of ICT on public management is vital to two steps: the
first identifies with the internal government operations and the second to the government's
interface with the public. ICT makes governments accountable and lenient and decreases
corruption by making data effectively accessible to people. Intuitive technologies likewise
enable better government-resident interface, permitting filling and registering of forms
online, enhancing both productivity and straightforwardness. While public segment
management contains the biggest part of the World Bank's IT portfolio (42%), the vast
majority of these ventures relates to increasing the proficiency of the decentralisation. ICTs
have an improved potential in administration today—in meeting the key aims of
decentralisation, responsibility, and disputes, and in improved assistant conveyance and
subject goals. World Bank is, therefore, an elaborate example of how information technology
is an instrumental part of many modern-day businesses. The role of information technology
goes beyond just normal operations of businesses but can be applied in innovative initiatives
in businesses.

3.4 The importance of Intranet and Internet in business in general

An intranet entails a restricted laptop network, managed with the useful resource of and
typically reserved for a single business enterprise -- like a corporation’s personal network.
Intranets be part of someplace from dozens to hundreds of people. They regularly have their
very own physical infrastructure, separate from the Internet. Although they have a tendency
to provide Internet access, some do not, usually for motives of privacy, security or lack of
need. In comparison, an extranet includes a restrained laptop network that connects two or
extra intranets. Intranets can be partly sealed off from the extranets they access, permitting
for a commercial enterprise organisation to reserve private areas of its intranet from the eyes
of different companies. In addition to its strategic necessity, this additionally has safety
charge in view that extranets many times run on the global Internet as virtual private
networks. This makes extranets particularly inclined to cyberattacks when in distinction to
intranets. To get admission to both an intranet or extranet, a person usually wishes a
passcode. A financial organization intranet is an critical tool, which helps team of workers
higher collaborate, engages and entails staff, promoting your way of life and organization
 The Role Of Information Technology In Businesses 7

values alongside the way. It additionally offers your personnel the gear they need to feature
their jobs efficiently. We labored carefully with our economic customers to deliver an
intranet tailored in specific to these in the banking industry. For new installations of our
software, we've built out functionality that meets the wishes of many banks - use the
following information and our weblog posts as a guide, and customize as needed.

4. Analysis and Discussion

Firstly, with the dawn of technology, many advancements happened through which
the face of operations in any institution changed. The impact that IT innovation has had on
enterprises is crucial. It helps a business entity to become more productive. The
productiveness is a result of the lowered overhead costs, better and improved customer
experiences, and a faster way of coming up with a managerial decision. The quickness in
making the managerial decision impacts the fast a decision is made and the operations are
quickly made. The complete analysis of IT encompasses the study of using systems,
especially telecommunication devices and computers. Herein is an analysis of the various
ways through which the World Bank has ridden in the IT world to ensure its success story.
4.1 Role of IT in the Success Story of World Bank
As already mentioned, the World Bank is one of the greatest benefactors of the
technological input that this innovation brought. There are various roles that technological
advancement has had in the day to day operation of the World Bank. In the first instance,
communication is an essential part of the World Bank's operational strategy. The firm needs
to frequently make communicate with various stakeholders on the issue of their projects. It is
through IT media that the organisation can book arrangements with various other related
stakeholders and arrange a timely execution of every other’s role (Ika, Diallo, and Thuillier,
2012). Through every government, locals are notified through various channels on the
ongoing World Bank-funded project or any other expectations. Through such a digital time,
IT has successfully influenced a strategic communication platform (Vom Brocke, Zelt, and
Schmiedel, 2016, p.490). The organisation, in a click of a button, can relay information
through a wider coverage in a short time.
Secondly, the World Bank is spearheading the digital development revolution. In this
project, through the modernised world of technology, the institution is seeing countries across
the divide accelerating on the socioeconomic development that aims at ensuring all citizens
globally are connected with opportunities in striving to ensure that they comfortably fought
for a better future. Different sectors of the economy are targeted through the introduction of
newer business models. The World Bank, therefore, as an institution, has benefitted in easily
 The Role Of Information Technology In Businesses 8

financing the broad range of these sectors that include education, health, disaster and risk
management, agriculture, and transport. Once the financing has been done, the progress is
easily managed, and therefore, the role through which the project was initiated is achieved
(Trantopoulo et al., 2017, p.19).
Besides, the various functions of this global corporation have been made easier to
operate. The financial assistance that is offered to various war-stricken countries is easily
monitored and an equitable share is allocated and it has seen the betterment of lives across the
globe. It is a factor that has been necessitated by the rapid technological advancement.
Through technology too, the IT equipment has placed the Bank at the apposition of technical
assistance to the developing world (Kshetri and Voas, 2018). Countries across the globe have
had various pieces of training that the Bank has offered in its professional aid programs.
Additionally, it has been through the IT programs that the World Bank has had a more
straightforward evaluation of their projects. The review is an easier way through which the
Bank avoids unnecessary losses through financing dead projects (Nulens, 2017 p. 3).
Lastly, the World Bank’s success story has been seen in research programs and
training all these being better facilitated by technological advancement. However, the
advantages and the successes have not come minus its negative side. Due to data hacking, it
has cost the organisation a lot of capital to ensure that the data is safe and cannot be accessed
by unauthorised people. It is important to note that the IT sector has had a better stride in
enabling the success story of the World Bank. 

4.2 Types of Networking Technologies that used the World Bank

The banking and thrift industries are experiencing a technological metamorphosis. New
applied sciences such as superior computer working systems, huge and nearby place
networks (WAN, LAN), and the Internet, are turning into sizable strategic areas for monetary
institutions. The impact, composition, and trends of statistics technology on the banking and
thrift establishments within a seven‐state area of the southeastern United States are examined.
Bank traits such as asset size, wide variety of employees, number of full carrier locations,
areas of lending, and return on property are evaluated in relation to the status, scope, and trip
with computer network systems. Research indicates that a wide variety of bank composition
and operations variables behaved statistically independent between measurement variables
(assets, quantity of employees, and range of branches) and WAN access. The survey facts
additionally point out that return on property and community system variables are
 The Role Of Information Technology In Businesses 9

independent. Therefore, networks systems have now not had a direct impact on the backside
line.

4.3 Ethical and Social Issues

It is the ethos that serves as a guiding principle to moral living. It is through the set
ethics that human beings are put in a situation of judging whether the behaviour that is carried
is justifiable before society. The ethics answer the moral question by establishing principles,
rules, and values of conduct. In IT and information systems at large, the issue of socio-ethical
factor is imminent.
In information technology, some issues define moral dimensions. Firstly, it is on the
information rights and their obligations; there is the system quality as another issue and
lastly, on accountability or the control. In the World Bank, based on the information, there
are just like any servicing industry hurdles. The problems encountered include piracy,
viruses, ergonomy, and hacking. Hacking of data is one of the issues that the firm has
invested in deeply to avoid duplication or loss of theirs. These ethical issues have been a
defining issue that has slowed the rate through which IT could have progressed in this sector
(Business Processes, 2020 p. 1).
Digital integration is not an innovative fix, a sketch plan, an erratic occurrence, or a
one-size-fits-all plan. It is a social learning process, sustained with time, including various
associates. Its definitive goal is to meet a nation's particular financial needs. This step is a
long-distance race driven by vision, administration, development, learning, and associations
among government, business, and society.
Three major obstacles that the World Bank experiences in digital transformation
programs include:
1. Digital innovations are profoundly independent and based on a novel biological
system that incorporates correspondence foundation, digital stages, digital economy
abilities, local ICT administrations and content concerns, administration change for all
divisions, digital strategies, and ICT segment initiative and administrative
organisations. Maximising computerised profits needs a nurtured digital ecosystem
and taking advantage of its collaborations at the national, sector, and local levels
(Best, Neiss, Swart, and Lambkin, 2013).
2. Leadership and institutional abilities in ICT to plan and administer computerised
transformation plans. These abilities are imperative to induce shared vision,
mobilising long term responsibility, coordinate ICT opportunities and speculations
 The Role Of Information Technology In Businesses 10

into improvement procedures, adjust reciprocal arrangements concerning rivalry and

aptitudes, and seek after organisations with civil society and the private area.
3. Digital change needs substantial investment in hierarchical abilities, innovation, and
institutional learning. Best approaches provide that each dollar entrusted in ICT ought
to be coordinated with a $4 or $5 interest in process improvement, preparing,
management, and so forth.
These problems have continued in nations where reciprocal resources and planning firms
are powerless or missing.
4.4 Intranet and Internet
The intranet is its way of owning a private network. In contrast, the internet is a
network that operates globally through which an individual then will be in a position to aces
the network from any place. Intranet, on the other hand, is only accessible to the restricted
area within an enterprise. The World Bank uses intranet to enhance better communications
internally. It is, therefore, a hub in international communication making the management
control the employees easily and through there is an efficient storing of corporate
information. The staff news, the memos and any announcement made is easily accessible by
the right audience 
On the other hand, the internet too is an essential feature in attaining the World Bank
success story as it was described herein (Foster, 2017. p.2). In the quick-changing times,
there is a need for a better investment in the intranet and internet for easy access and
enhanced productivity in the operational framework of the World Bank
4.5 Different Stage of System Development Life Cycle
The phases herein amount to the various stages through which software undergoes before
being made. The stages of development are as follows:
 Planning where the idea is calculated using strengths and weaknesses.
 System Analysis is essential in the analysis of the performance. 
 System Design where the architecture of the system is built
 Development and Implementation data recording is done underground as the real
software is made.
 Integration and testing in assessing errors that there may be present are made. 
 Operations and maintenance to maintain and upgrade the system (Luftman, Lyytinen,
and Zvi ben, 2017, p.31).
 The Role Of Information Technology In Businesses 11

5. Conclusion
Information technology is an essential aspect of any given organisation. With the
dawn of the technology era, there is a need for every firm to embrace technological
advancements. When properly implemented, the use of IT opens newer platforms through
which a corporate or any other company benefits. Through a private study on the way the
World Bank has embraced IT, a reflection on many questions that arise with technology is
done. The role of intranet and its various aspects of software development is herein
explained. IT is a breakthrough in multiple aspects of our daily life, and it is time that the
world embraced it!
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6. References
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March 2020].
Dubey, S. and Verma, N., 2020. Role of Micro, Small and Medium Enterprises (Msmes) In
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Hanushek, E. A. and Woessmann, L., 2020. Education, knowledge capital, and economic
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Ika, L.A., Diallo, A. and Thuillier, D., 2012. Critical success factors for World Bank projects:
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Kshetri, N. and Voas, J., 2018. Blockchain in developing countries. It Professional, 20(2),
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Trantopoulos, K., von Krogh, G., Wallin, M.W. and Woerter, M., 2017. External Knowledge
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