Do standards impact a company’s bottom line?
Short answer: Yes, they do. In this issue, we explore some of the ways in which standards offer opportunities for an equal, level playing field and economic growth. We highlight how businesses – both large and small – can calculate the savings and benefits they make today – which amounts to a whopping 5 % of a company’s revenue in some cases. Talk about tangible!
Raised on a dairy farm in southern Ontario, Canada, the young John Walter, now CEO of the Standards Council of Canada and ISO Vice-President (policy), never thought that a childhood spent milking cows would lead to a career in standards. Here, he tells us how life in the creamery can generate unsuspected rewards.
What could be more enjoyable than an ice cream cone or sundae, whipped up thanks to the many benefits of standards.
Also in this issue
The theory that standards slow growth is bunk. In fact, they are an economic opportunity. How do we know? Because these savings and advantages can be determined. A method to calculate the benefits of standards now enables companies to see how much they are making. And the figures are fascinating.