It is through innovation that companies gain a competitive advantage to become successful in business. With innovation comes standardization as a business strategy for achieving success in markets both local and international. External standardization is about developing and establishing external standards in markets. The external standardization strategies of a company include: positioning itself with respect to the development of a new standard; establishing a new standard; and competing successfully within an established standard. This lecture addresses these issues in three stages. Chapter 2.1 discusses general issues in external standardization. Chapter 2.2 presents a detailed account of de-facto standardization process, whereas, Chapter 2.3 deals with strategic issues related to formal standardization. Concluding remarks are given in Chapter 3.
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Anticipatory standards, Company standards, Compatibility, Compatibility standards, Complementary products, Corporate strategy, De-facto standardization, De-facto standards, De-jure standards, External standardization, First mover advantage, Formal standardization, Innovation, Open standards, Patents, Responsive/retrospective standards, Strategic standardization, Strategy
| Language(s): | English |
| Authors | Gunawardena, Niranjan |
| Publisher: | Wilfried Hesser, www.pro-norm.de |
| First published / Last update: | 2006 / 2010 |
| Courses: | University program level: Master and Bachelor degree; further education material (self studying material) for experts from industry and policy makers China Jiliang University, Hangzhou, PR of China Helmut Schmidt University, Hamburg, Germany Institut Teknologi Bandung, Bandung, Indonesia National Economics University, Hanoi, Vietnam University of Moratuwa Katubedda, Moratuwa, Sri Lanka Inklaar Consultants, Hamburg, GermanyTitle of the course: Standardisation in Companies and Markets |