Exploring Standard Dynamics in Electronics Industry: Focusing on Influencing Factors and Revision of IEC Standards

Standards have frequently been discussed from the perspective of their influences on trade and the market; however, the nature of standards in the market has yet to attract significant attention from the technology management academy. In this article, we describe the concept of standard dynamics based on previous studies related to standards and show the interplay of standards and various factors underlying the business ecosystem. We define standard dynamics as a series of changes in the business ecosystem triggered by standard setting and revisions. Based on this, we highlight the role of standards in the business ecosystem. We conducted survival analysis on International Electrotechnical Commission standard revisions in order to take a closer look at standard revisions with a focus on potentially influential factors. Survival analysis helps us to understand the unique features of standard revision and gives managerial insights on how to respond to standardization. We also address the importance of standards for technology management in manufacturing firms, including looks at strategic participation in standardization, managing intellectual property right in connection with R&D, and tracking trends in certification. We are contributing to the research field of standards by synthesizing discussions on standards’ influence on the market as well as by highlighting the relationship among influential elements in standard dynamics.