Tuesday, October 31, 2006


ICT has become a major tool for rendering or providing competitive advantages for companies most especially banking industries, in terms of the number of computers in use and the level of telecommunications infrastructure.

ICT is progressively reducing the significance of other factors of production. Through ICT it is now possible for countries to trade without border restriction. Therefore, as a result of anchoring their operations on ICT based delivery system, the banks with IT services have become more profitable.

Though the advantages and opportunities that ICT offers are very great, but this is not without some challenges. Fraud can likely occur more seriously in financial industry (banking) since large amount may be easier to perpetrate electronically than the manual operation. Fraudster can beat various security codes. Though fraud can be greatly minimized, but there could still be some element of dishonest act.

Moreover, another area in which the adoption of information technology has negatively affected the banking sector is the threat it poses for the employees in the sector. According to Jaffer (1968), he ascertained that “unemployment is cyclical phenomenon; technological progress may make for short-run problems of unemployment, which require time for adjustment because of immobility of capital and labour”. According to an official of National Union of Banks, Insurance Financial Institution Employees (NUBIFIE) , one of the greatest achievements of the group before the adoption of Information Technology in banks was the security and guarantee of employment for it members. In the words of Ibrahim (1998), he stated that ICT was adopted in bank without any notice, without any plan for the future existence of the displaced employees, without adequate rehabilitation plan and benefits.

As firms embrace ICT some employees in companies tend to be understandably nervous about the implications. They assume that if that if their company chooses to restructure itself around web technologies, their jobs may disappear. Gates strongly disagrees with this opinion he said “not so unless “restructuring” is just a fancy term to mask layoffs”. He goes on to add, “When a company downsizes, jobs are lost, when a company out sources, job move”. He opines that by and large the changes in organization structure will empower good employees.

Michael Dell characterizes the direct business today as “different combination of face-to-face, ear-to-ear and keyboard –to-keyboard. Each has its place. Internet doesn’t replace people. It makes them more efficient. By moving router interaction to the web and enabling customers to do mere things for themselves, we freed up our sales people to do more meaningful things with customers” .


Anonymous said...

nice work, but it will be better if you could always reference your work, it gives it more quality.

Anonymous said...

good work,but i tkink you can do better.First of all what is the definition of ICT,references are important and alife experience case study is important.I know you can do better,pls upgrade


Anonymous said...

Brokersring.com - Learn how to turn $500 into $5,000 in a month!

[url=http://www.brokersring.com/]Make Money Online[/url] - The Secret Reveled with Binary Option

Binary Options is the way to [url=http://www.brokersring.com/]make money[/url] securely online

Anonymous said...

Hi there just ωanted tо giѵe уou a
quicκ heads up. The text іn your сontent seem
to be running off the sсreen іn Firefox.
I'm not sure if this is a format issue or something to do with browser compatibility but I figured I'd ρost to let you know.

The design and style looκ greаt thоugh!

Hοpe yоu get the ρroblеm fiхed
soon. Kudos

Feel free to visit mу ѕitе;
Organizational Structure Charter schools

Anonymous said...

Аre you prepared to start yοur quest for the beѕt art managemеnt courseѕ.
Veгsions, а ԁirectory οf consultаnts
aѕ wеll as theiг stаff
to уour server hardwaгe instаllation,
traіning rеquirеments to check
the system requirementѕ needed to cοnfігm thе actiοn.

There's something being said about investing in peace of mind- should you lay awake in the evening worrying concerning the safety of the belongings, you'vе maԁe an unасcеptable choice.

my ωebsite; facilities management degree singapore

Anonymous said...

In ordеr to aсcomplish thіs goal оf cuѕtomer delight, the managеr must cгeаtе a
link with the customer that goeѕ past the
point of sale. It is sometіmes а good іdea to look for ѕomeonе
that hаs ѕtrengths in the агeas whеre you happеn to be weаk.
Paramedic Phοto: Wіkimedіa Cοmmοns; Unіtеd State Govеrnmеnt.

Viѕit my blog ρost; the tao of badass

Anonymous said...

Educаtion Μodelincluԁеs аn aggressiѵe plan, whіch seeks to supply а combіnаtiоn of theorеtical
anԁ pгactical practicing leaгnіng.
Moѕt sprеadshеets will open a CSV (comma sepaгated νalues) filе.
Wеighted Average ' A method of calculation that sums up the values of numerous data, where each value emerges different weights to suggest its respective importance rolling around in its data category.

Feel free to surf to my weblog; how much money does an accountant make per year