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Cost-Benefit Analysis of Participation in Standardization: Developing a Calculation Tool

Author

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  • Henk J. de Vries

    (Rotterdam School of Management, Erasmus University, Rotterdam, Netherlands)

  • Joey L. Veurink

    (Rotterdam School of Management, Erasmus University, Rotterdam, Netherlands)

Abstract

Participation in standardization costs time and thus money and additionally there are out of pocket costs. Is it worth this investment? This paper seeks to develop and test a method to calculate cost and benefits of participation. Companies can use such a calculation to prepare a decision whether or not to join, during the process whether or not to continue, and afterwards to evaluate if the overall benefits outweigh the cost. Academic researchers can use the same method to analyze impacts of standardization projects.

Suggested Citation

  • Henk J. de Vries & Joey L. Veurink, 2017. "Cost-Benefit Analysis of Participation in Standardization: Developing a Calculation Tool," International Journal of Standardization Research (IJSR), IGI Global, vol. 15(1), pages 1-15, January.
    • Handle: RePEc:igg:jsr000:v:15:y:2017:i:1:p:1-15
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    Cited by:

    1. de Vries, H.J., 2019. "Standardisation Management," ERIM Inaugural Address Series Research in Management EIA 2019-079-LIS, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam..
    2. Wu, Yuhao & de Vries, Henk J., 2022. "Effects of participation in standardization on firm performance from a network perspective: Evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 175(C).
    3. Tan, Jianhua & Yan, Lina & Chan, Kam C., 2020. "The impact of the logistics service standardization on firm value: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).

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