International Competition and Global Standards: Business Model for Standardization as Seen in Case Studies
For business enterprises, the primary objectives for taking advantage of standardization include "market creation and expansion" and "cost reduction and improvement of production efficiency." However, due to the nature of standardization as public goods, each player is equally able to capitalize on the standardized technology and enjoy its merits. In other words, while standardization expands profit-making opportunities for businesses, it does not necessarily promise a competitive advantage or ensure profits for individual companies. For businesses to eventually earn profits through standardization, the key lies in integrating standardization with corporate strategy or business strategy in accordance with the respective conditions for profit-making, while taking into account the nature and impact of standrdization. A number of case studies are presented to highlight the role of standardization for coroporate and product strategy.
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