Why are standards important in many industries? As standards get adapted and bec

Question

Why are standards important in many industries? As standards get adapted and become dominant,

how does this process influence the competitive nature of the industry?

When Walmart decided to incorporate grocery stores into some locations and created "supercenters,

" was this a business-level strategy of differentiation or a corporate-level strategy of diversification?

Why? Explain your answer.

Why are standards important in many industries? As standards get adapted and become dominant, how does this process influence the competitive nature of the industry? When Walmart decided to incorporate grocery stores into some locations and created "supercenters, " was this a business-level strategy of differentiation or a corporate-level strategy of diversification? Why? Explain your answer.

Explanation / Answer

Standards have become such an integral part of our existence that the average individual gives little or no thought to everyday products and services and how they work. But imagine our frustration if lightbulbs didn't fit into lamps, or if there were no common sizes for clothing, or common-sized spark plugs for automobiles, or if trains couldn't move from one state to another because the tracks were a different gauge.

This course is designed as a basic introduction to standards for management and technical personnel in business, industry association management, government, and public policy; university faculty and students; engineers, quality control and purchasing staff; consumers; and those new to organizations that develop standards.

As Wal-Mart grew larger, the sheer size and purchasing power of the company enabled it to drive down the

prices that it paid suppliers and to pass on those savings

to customers in the form of lower prices, which enabled

Wal-Mart to gain more market share and hence demand

even lower prices. To take the sting out of the persistent

demands for lower prices, Wal-Mart shared its sales information with suppliers on a daily basis, enabling them to

gain efficiencies by configuring their own production

schedules to sales at Wal-Mart.

Already by the 1990s, Wal-Mart was the largest general seller of general merchandise in America. To sustain

its growth, Wal-Mart started to diversify into the grocery

business, opening 200,000-square-foot supercenter stores

that sold groceries and general merchandise under the

same roof. Wal-Mart also diversified into the warehouse

club business with the establishment of Sam

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