INFORMATION AND COMMUNICATION TECHNOLOGY

Information and Communication Technology



Information and Communication Technology

Nature of Business

The Commonwealth Bank is one of the largest banks of Australia, which extends to a number of regions in the world including Asia, UK and USA. The bank provides diversified services within the banking sector such as retail and institutional banking, funds management, superannuation, insurance, investment and brokerage services. One of the main objectives of the bank is the need to support a rapid increase in the capacity of key banking systems. The bank aims to achieve this goal, so that it can control the rapidly growing volume of transactions. Furthermore, Commonwealth bank has been investing to develop automated systems, which were not originally designed to expand the functionality and had never experienced overload of customers.

Discussion

Information is the backbone of the organizational system of the company. This is a message or data received by a recipient, which modifies its knowledge on a subject or allowing it to solve a problem. For many years, the managers thought that hold the information was a source of power. Today, the flow of information has become an internal communications strategy. Indeed, when it travels well, the information fosters communication and is, therefore, factor of cohesion, motivation, effective decision-making and creativity. Identify the information channels of the company is a force for the employee, allowing him to position themselves in office and to hold useful information at the right time (Levin 2002, Pp. 115-137). If it is found to possess useful information is essential for an employee, it becomes, therefore, important for the manager to know disseminate information and knowledge flows used for the development of its internal communication. Internal communication's key role is to promote a joint construction of meaning in a business. It is often linking to the organizational structure of the structure. In a centralized structure, Taylorist type, communication is formal, usually written. The information accordingly follows a vertical direction: the direction of employees (down). The transmitter is the only one competent to master the complex issues that must be broken down into simple elements and indicate the exact solutions.

Use of ICT in Commonwealth Bank

ICT has changed the structure of the flow of information, and the same, new forms of communication have developed in Commonwealth Bank. The introduction of new technologies implies the opening-up of new opportunities. The use of ICT in Commonwealth bank help employees to share and access information at any time, but they must also meet the demands of informational flows that aim to regulate the operation of the productive system. They will have to adapt to an effective information system, able to mobilize around changing objectives. Moreover, especially since the forms of organization have increased the current statutes, the rhythms of work and strained ties whether physical or symbolic. The resilient organization is undoubtedly communicating (Khalifa 2003, pp. 206-232). It requires the interconnection of actors to coordinate their work, taking into account changes in production patterns of work and diversity of ...