Standardization

Standardization or standardisation is the process of implementing and developing technical standards based on the consensus of different parties that include firms, users, interest groups, standards organizations and governments.[1] Standardization can help maximize compatibility, interoperability, safety, repeatability, or quality. It can also facilitate a normalization of formerly custom processes. In social sciences, including economics,[2] the idea of standardization is close to the solution for a coordination problem, a situation in which all parties can realize mutual gains, but only by making mutually consistent decisions.

  1. ^ Xie, Zongjie; Hall, Jeremy; McCarthy, Ian P.; Skitmore, Martin; Shen, Liyin (2016-02-01). "Standardization efforts: The relationship between knowledge dimensions, search processes and innovation outcomes". Technovation. Innovation and Standardization. 48–49: 69–78. doi:10.1016/j.technovation.2015.12.002.
  2. ^ Blind, K. (2004). The economics of standards. Cheltenham: Edward Elgar. ISBN 978-1-84376-793-0.

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