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Standards, Strategy, and PolicyCases and Stories$
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Peter Grindley

Print publication date: 1995

Print ISBN-13: 9780198288077

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198288077.001.0001

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Framework for Standards Strategy: Establishing Standards and Maximizing Profits

Framework for Standards Strategy: Establishing Standards and Maximizing Profits

Chapter:
(p.20) 2 Framework for Standards Strategy: Establishing Standards and Maximizing Profits
Source:
Standards, Strategy, and Policy
Author(s):

Peter Grindley

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198288077.003.0002

This chapter outlines the strategies for establishing compatibility standards, maximizing profits, and promoting competition once the standards are set. Strategies are interconnected, deciding on which standard to support, and the firm must estimate the chances of winning a contest and its expected profits depending on how it competes once the standard is set. The strategies aim to maximize the profits and to continue to compete effectively within a standard. Firms make basic positioning decisions for leadership access and the book describes the different types of standards. Many cases discussed in this book are what are called ‘open standards’.

Keywords:   firm, profits, open standards, economic forces, market, strategies

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