Industry Standards and Standardization: Analysis of Annual Reports of Technology Organizations

Abstract

Technology Organizations are participating in the formulation, adoption, and diffusion of Industry Standards to create value for self, customers, industry, and society at large. In this paper, the Authors have analyzed the Annual Reports of the Product/Platform/Services focused Technology Organizations to get their current perspective on Industry Standards, especially in the Information Technology area. In the context of Annual reports, the Paper further discusses Standards related Compliance challenges especially in Data Protection/Cyber Security, Increased competition, and associated risks due to evolving nature of Standards, Management System Standards and Certifications, the role of Standard Essential Patents. The Paper also provides insights on Standard Developing Organization (SDO)/ Consortium Membership of Technology Organizations. The main contribution of this paper is to ensure awareness among Technology Organizations that are hesitant to take the next steps in Standardization. The findings from this paper can act as an input to strengthen the business case to engage actively in the Standardization. Managers can take the clue to build Standards Competency for employees, plan Standards related Certifications and SDO Memberships, Evaluate the Standard Compliance/ do risk analysis, relook at their Patent Strategy. Standardization is a journey that needs support from Top Leadership to play a significant role in Standards Universe.