Principles of business

School based assessment

Name: Mallo Dixion

School: Wolmer’s High School
Teacher: Ms. Janeil
Candidate Number: 100128####
Centre Number: 100128
Territory: Jamaica
 Table of contents

Title Page #

Topic……………………………………………………………………………………1
Objectives………………………………………………………………………………2
Background…………………………………………………………………………….3
Methodology……………………………………………………………………………4
Presentation and Analysis of Data……………………………………………………...5
Conclusion……………………………………………………………………………..6
Recommendation……………………………………………………………………….7
Bibliography……………………………………………………………………………8
Appendix……………………………………………………………………………….9
 Topic

 An investigation into the ways in which technology has influenced banking and
commerce and its impact on NCB.

1
 Objectives

 Identify the ways in which technology has influenced banking and commerce.

 Discuss the impact that technology has on banking and commerce.

 The positive and negative effects that technology has on the banking and commerce.

2
 Background

Today, NCB stands as the largest financial group in Jamaica, focused on maintaining a
profitable organization, which provides highly competitive and innovative products and service
offerings for our customers. Its aim is to maintain a solid governance structure and robust
compliance framework, while utilizing flexible business models and efficient operational
processes and systems.
 
In pursuit of the organization’s vision of Building a World Class Digital Experience,
Accelerating Regional expansion and Reinventing its Core Business, NCB has been driving
productivity of its core business while exploring inorganic growth opportunities, as a
fundamental part of its growth strategy. The complete financial service offerings of the NCB
Group of Companies are accessible through our diversified portfolio of companies, namely:

National Commercial Bank Jamaica Limited: which provides an array of products & services to
meet the banking needs of customers. Deposit accounts, Unsecured and Secured Loans, Credit
Cards, Overdraft Lines, Foreign Exchange and Personal and Private Banking services are part of
the offerings. NCB Capital Markets Limited: is the wealth and asset management arm of the
NCB Group, offering investment and brokerage solutions for individual and corporate clients
and investment banking solutions to our corporate clients.
The reason why I chose this topic is because the ways in which technology makes
banking and commerce easier have always seems to fascinate me.
The impact that my topic has on the society is that now you can make school fee payments
at Automated-Teller Machines (ATMs) and you can now buy things online using the electronical
banking setup of the NCB.

3
 Methodology

Questionnaires and interviews were used to gather relevant information so that my objectives
could be achieved. A questionnaire is a set of printed or written questions with a choice of
answers, devised for the purposes of a survey or statistical study. An interview is a meeting
between two persons to receive information pertaining to someone or something.
In order to gather relevant information, I went to NCB Co Ltd to issue out
questionnaires to a certain number of employees. I also carried out interviews on some of the
employees. Seven (7) questionnaires containing five (5) questions were issued to seven (7)
employees. Three (3) interviews were carried out on three (3) employees. The interview
questions were the same questions found on the questionnaire.
The reason for using questionnaires as well as interviews were because the
questionnaires and interviews allowed for the information to be collected easier and they also
allowed for you to get each employee’s view on how technology has impacted banking and
commerce in NCB Co Ltd.
My limitations were that the questionnaires took time to be completed, This Covid-19
pandemic which has restricted my movements and then it took some more time to be collected.
One limitation for the interview was that majority of the persons interviewed could not appear a
lot of time out of their work so the interview questions were cut short.

4
 Presentation and analysis of data

Positive and Negative effects of technology on Banking and

commerce

Positive Negative Neutral

The graph above shows a percentage of the employees who think whether or not technology
influencing banking and commerce are positive, negative or neutral. The graph will show that
more than 50% of the employees agreed that there were more positive effects than negative, less
than 40% agreed that there are more negative than positive while less than 30% agreed that the
positive and negative effects would balance each other. Out of all employees who were
interviewed and who were given questionnaires, 60% said that there were more positive effects
than negative, 31% said there was more negative than positive while 19% said they were neutral.
 5

Conclusion

Based on the information gathered by this SBA, it was concluded that technology has
impacted banking and commerce positively. One way this is shown is that because e-commerce,
businesses can be online-based and its customers would now be able to get products easier. Also,
because of ATMs and ABMs, banking is now quicker and easier.

6
 Recommendation

One recommendation I would suggest is that NCB invest into a lot more ATMs and
ABMs so that the banking process could be speeded up. Another recommendation I would
recommend NCB to do is to allow for their debit and credit cards to be an automatic visa so that
thee customers can use their cards to shop online and overseas.

7
 Bibliography

Carlene Robinson, Sybil Hamil, Principle of Business for CSEC, Carlong Publishers,
2011
Dave Hall, Rob Jones, Carlo Raffo, Business Studies Second Edition, Causeway Press
Ltd
www.jncb.com
Carl Walker, Nadine Chambers, Coline Henderson, Althea Reid, John Sanders, Mill Miller,
Sandy Hymen

8
 Appendix

Questionnaires
1. What are the positive effects of technology on banking and commerce at NCB Co Ltd?

2. Are there any negative effects of technology on banking and commerce at NCB Co Ltd
If yes, state two (2)?

3. Does technology make banking and commerce at NCB easier?

Yes No

4. What impact has technology brought on banking and commerce?

5. What impact does technology influencing banking and commerce have on the society?