Issue 43 – October 2012
Implementing Standards consistently provides benefits for companies, regardless of their size, business sector, or which country they are based in, according to a new collection of case studies by ISO, the world's largest developer of international Standards for business, government, and society.
The 10 case studies cover nine countries: Mauritius, Italy, Senegal, Cameroon, China, Sri Lanka, Lebanon, Jordan, and Egypt. The size of the companies varies from small enterprises with 25 employees and annual sales revenues of around USD 4.5 million, to those with several thousand employees and annual revenues of over USD 2 billion.
Among quantified benefits identified in the studies on using Standards are the following:
- Streamlining internal company processes
- Decreasing waste and internal costs
- Increasing the efficiency of research and development
- Innovating business processes
- Reducing risk
- Enabling international expansion
- Supporting development of new products and markets
The 10 new case studies, plus 11 ISO case studies from 2011, demonstrate that the benefits of using Standards are valued, in terms of contribution to company gross profit, at between 0.15% and 5% of annual sales revenues.
The case studies were carried out by ISO's Central Secretariat in Geneva, Switzerland, in cooperation with ISO national members and academic institutions. They are based on 'the ISO Methodology' for the assessment and quantification of the economic benefits of Standards.
Download the case studies below:
The 11 ISO case studies from 2011 on the economic benefits of Standards are available in our November 2011 Touchstone article, 'International case studies prove economic benefits of Standards'. These case studies cover 10 countries – Indonesia, Singapore, Thailand, Vietnam, Brazil, Colombia, Peru, Botswana, South Africa, and Germany (two case studies).
A BERL report commissioned by the Standards Council on The Economic benefits of Standards to New Zealand is available at http://www.standards.co.nz/news/Associated+news.htm (scroll down to The Economic Benefits of Standards to New Zealand.)
Summarised from an ISO media release, 18 September 2012.
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