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100 second reflection for week 11
Think for 100 seconds, and summarize the key things that you learned in the class in week 11 (technology standards and Rosetta Net case).
This week’s discussion, we learned about EDI (Electronic Data Interchange). EDI is a structured transmission that helps companies communicate with each other by electronic means. EDI can provide companies in reduction in cost and time through electronic means. Data transmission and message flow helped companies communicate electronically which saved them time and money.
For the Rosetta case, there should be a common standard or ground for what companies can use. Costs decrease when companies use standards. By using Rosetta Net standards, companies can provide inventory levels, visibility to forecast, and order execution.
HTML uses tags to define how content is displayed on a website. All tags have been previously created and defined and cannot be modified. XML uses tags to explain what the content is. These tags are defined by the users and can be varied and modified; because of this, it is important for companies to have an agreement of the XML tags that they will use. When communicating, the receiving party will be able to make sense of the XML files if both parties have previously agreed on using similar schemas.
I learned that the more users you have the more valuable the network. I also learned that standards lead to an increase in efficiency. However, standards are costly to adopt because of the cost of set-up. More specifically, the cost of the software, hardware, connectivity, process change, and training.
Referring back to standards for eBusiness, it was interesting to understand how standards save both time and money, however is it pretty expensive to start-up. From a financial aspect, it would be interesting to do an analysis on how long it would take a company to be able to payback the start-up costs on developing standards for B2B processes internally. Standards provide an excellent way maintain corporate relationships between businesses and to facilitate a more efficient business process once the standards are worked through without any cliches in the system. Eventually, the standards should provide a cost savings for both B2B parties, as well as the potential end-consumer, hopefully directly if not already indirectly.
What I learned from this this week in accordance with the Rosetta Net case and the technology standards lecture is that it is crucial to be able to implement a network effects strategy. Your eBusiness becomes more successful the more users you can reach out to and incorporate into your system of conducting business. That is why the eBusinesses that ultimately succeed are the one who can capture the largest percentage of users for their system.
This week we learned about Electronic Data Exchange (EDI) which is the structured transmission of data between organizations electronically. We also learned about XML, which is not HTML or an extension of HTML. Much like EDI, web services deliver business over the internet. With the RosettaNet case, some of the key findings were that the more users you have, the more valuable to net worth is, standards lead in an increase in efficiency and that there is importance in creating a standard.
This week we learned about XML and HTML. We also learned about electronic data exchange. In the Rosetta Stone case we analyzed a tough decision a company had to make on choosing a standard/
This week we discussed the RosettaNet Case. We learned about the decision that they went through to decide what EDI they would be using. They decided that the more users that use it, the more valuable it then becomes. The more users that use a system, the more efficient it will then become, there is no value in hiding or protecting the system.