Information And Communication Technology As A Tool For Organization Growth
The topic Impact on the information and communication Technology as a tool for Organization growth in First Bank Plc Ekwulobia in Anambra State. Before the advent of technology, the tasks in most organizations have been performed manually. And this involves the use of excessive human labour to perform them. The advents of the technologies are believed to give added impetus to organizational productivity. Specifically the study will identify the information and communication technology as a tool for Organizational Growth in First Bank Plc Ekwulobia in Anambra State. Three purpose of the study and three research questions were used for this research work related literature were reviewed and the simple percentage formula was used for data analysis. The population of the study consisted of 48 staff of First Bank Plc Ekwulobia in Anambra State.
A total number of 48 questionnaire was distributed to the respondents out of which were retrieved.. This research topic had been an interesting one various barriers were identified and possible remedies where suggested. Effective communication is very important and vital, It is seen from the research work that provision for adequate training also enhances effective communication. This study was carried out because of the belief that information and communication technology, which is a new business initiative and innovation, will help important marketing growth. Banks and other service organization should adopt resources/skill development policies with an emphasis of ICT training. Management should discourage any like hood that could bring about barrier to effective communication.
1.1 Background of the Study
The world has become a global village and as such communication has become so fast efficient that one can communicate across the globe in a matter of seconds. This development in the communication industry, has made possible by the advent of computer, information and communication technology.
Technology in the 21st century is dominated. Today’s technological advances are faster and more fundamental, with their cost decreasing rapidly. It covers all forms of computer and communications equipment and software used to create, design, store, transmit, interpret and manipulate information in its various formats. Personal computers, laptops, television and network technologies are just some examples of the diverse array of ICT tools.
Information and communication technology is a general term that describes the process of creating, modifying, storage, transmission of information, between humans and machines alike globally, using several different electronic technologies to achieve an outcome. Organizations use information technology heavily to automate their work, making it easier and quicker to achieve their goals. Every business organization always wishes to attain a target profit a success. The attainment of the success depends largely on the adoption and management of information and communication technology in the marketing of goods and services. Modern day business literally abounds in several examples of organization and individual in different part of the world who made fortunes by seizing opportunities engendered by technological changes.
Less sighted organization operation on the same technological environment lost their fortune and in some a result of their inability to anticipate and adopt strategies that would match change brought about by technology. As a result of opportunities created by technological changes, information and communication technology in particular, forward looking organization such as banking industry have adopted different marketing strategies aimed at achieving organization objectives.
Business operates in a world of technologies and gulping changes which create new problems, risks and opportunities which they mobilize resources to meet such changes and tap the opportunities presented for the overall success of the organization objectives, marketing strategy which will enable the business to continually adopt its operation to the realities of the market and consumers satisfaction in particulars, which is the corner stone of organizational growth.
- Inadequate information flow in organization also affects organizational growth.
- A change in technology in banking industry also affects organizational productivity because the employers and employee need special training on the job.
1.2 Statement of the Study
Before the advent of technology, the tasks in most organizations have been performed manually. This involves the use of excessive human labour to perform them. The problem here was not whether these organizations achieved their goals with a specific period. The essences of these organizations to make profit for the owners within a period of time the adverts of the technologies are believed to give added impetus to organizational productivity. The question is whether the introduction of ICT to most organization has added significantly to the overall growth of these organizations. Specifically the study will identify the introduction of Information and Communication Technology as a tool for Organizational Growth in First Bank Plc Ekwulobia in Anambra State.
1.3 Purpose of the Study
The main purpose of this study is to identify Information and Communication Technology as tool for Organizational Growth in First Bank plc Ekwulobia in Anambra State specifically the study will;
- Identify the place of ICT in the overall growth in First Bank Plc Ekwulobia in Anambra State.
- Identify the shortcomings of ICT as a tool for organizational growth in First Bank Plc Ekwulobia in Anambra State.
- Identify the use of ICT as a tool for Organizational Growth in First Bank Plc Ekwulobia in Anambra State.
1.4 Research Hypotheses
For the successful completion of the study, the following research hypotheses were formulated by the researcher;
- H0: ICT is not a tool for Organizational Growth in First Bank Plc Ekwulobia in Anambra State.
H1: ICT is a tool for Organizational Growth in First Bank Plc Ekwulobia in Anambra State
- H02: there is no place of ICT in the overall growth in First Bank Plc Ekwulobia in Anambra State
H2: there is place of ICT in the overall growth in First Bank Plc Ekwulobia in Anambra State
1.5 Significance of the Study
- The study will be beneficial to First Bank Plc Ekwulobia in Anambra State as a means of companion between what is used to be before ICT in foundation and now.
- It will also help First Bank Plc Ekwulobia in Anambra State workers to embrace the new technology by way of further training.
- First Bank Plc Ekwulobia in Anambra State will benefit through quick and accurate job performance through the introduction.
1.6 Scope of the Study
This study is delimited to information and communication technology as a tool for organizational Growth in First Bank Plc Ekwulobia in Anambra State.
1.7 Definition of Terms
A financial establishment that invests money deposited by customer, pays it out when required, makes loans at interest and exchanges currency.
The application of scientific knowledge for practical purpose, especially in industries.
A social unit of people that structures and managed to meet a need or to pursue collective goals especially in society or association.
Knowledge communicated or received concerning a particular fact or circumstances or knowledge gained through study, communication, research and instructions e.t.c.
The impacting or interchange of thoughts, opinions or information by speech, writing or signs.
1.8 Organization of the Study
This research work is organized in five chapters, for easy understanding, as follows
- Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.
- Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.
- Chapter three deals on the research design and methodology adopted in the study.
- Chapter four concentrate on the data collection and analysis and presentation of finding.
- Chapter five gives summary, conclusion, and recommendations made of the study
Summary, Conclusion and Recommendation
It is important to ascertain that the objective of this study was to ascertain information and communication technology as a tool for organizational growth
In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of information and communication technology as a tool for organizational growth
This study was on information and communication technology as a tool for organizational growth. Three objectives were raised which included; Identify the place of ICT in the overall growth in First Bank Plc Ekwulobia in Anambra State, identify the shortcomings of ICT as a tool for organizational growth in First Bank Plc Ekwulobia in Anambra State, Identify the use of ICT as a tool for Organizational Growth in First Bank Plc Ekwulobia in Anambra State. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of first bank in Ekwulobia local government of Anambra statewas selected randomly. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made up human resource managers, accountants, customer care officers and marketerswere used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
According to Milgrom and Roberts (1990) they argued that to be successful, firms typically need to adopt ICT as part of a “system” or “cluster” of mutually reinforcing organizational approaches. The underlying argument behind the bundling of ICT and organizational performance is that it enables firms to introduce organizational changes in the areas of re-engineering, decentralization, flexible work arrangements, outsourcing, lean production, and team-work and customer relations. It also allows firms to produce with greater flexibility and shortened product cycles to satisfy shifting consumer preferences. In turn, these organizational changes are essential for realizing the full benefits of ICT in every entity. Concerns about ICT role in attaining effectiveness, efficiency and productivity were raised in the late 1980s. Since then a large number of studies have emerged both at the industry and firm level that have substantially improved our understanding of the relationship between ICT and firm performance. In particular, the firm-level studies have argued than an explanation for the so-called “productivity paradox” can be attributed to an insufficient response of organizational changes to adapt to changing business environment, to make better use of knowledge, technology and human resources, to respond to new demands from suppliers and customers, and to use ICT effectively
Presently, Information and communication technology has received great thoughtfulness across various industries and substantial positive effect on bank‟s profitability, cashiers work, banking transaction, patronage, services delivery, and customer‟s services among other. Hence, it is recommended that more attention has to be directed towards the use of Information and communication Technology in banking operations since the industry serve as a lubricant to the cog of the wheel of the nation‟s‟ economy while appropriate policies must be put in place to ensure proper monitoring and the determination of the optimum size required to attain organizational efficiency.
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