Model to determine the economic and other effects of standardisation - a case study in Serbia

Abstract

Standardisation is a key part of the microeconomic infrastructure with the benefits arising from the reduction of costs and the growth of quality. Although standardisation cannot raise profitability in all companies, still, it is in the interests of the economy as a whole, because it encourages competition. This research aims to raise awareness on the importance of standardisation activities, its economic and other effects, as well as the importance of taking part in the process of developing standards within the national standardisation bodies. The data used in this paper are the result of the research conducted at the Institute for Standardization of Serbia, Belgrade, 2015, where we have been examining the potential effects of standardisation. For the analysis of the obtained results, we used the methodology of structural equation modelling, which includes evaluating the measurement model, and based on an adequate index fitting, a structural model was tested, by using the appropriate statistical methods. The results of research in this paper confirm the positive relationship between perceived effects of standardisation as innovative, economic, technical-technological and social effects.