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Visoka škola za poslovnu ekonomiju i preduzetništvo , Belgrade , Serbia
Visoka škola za poslovnu ekonomiju i preduzetništvo , Belgrade , Serbia
Innovation and standardization represent two different socio-economic phenomena. Innovation is the specific process of creating the idea of a need for some changes, then the changes are implemented to the level of their commercialization, and finally adopted by a particular social system. Standardization is an activity in determining provisions for common and repeated use, in relation to actual or potential problems in order to achieve an optimal level of order in a given context. In this paper, we assume that correlation exists between innovation and standardization, since their application within a business entity may result in improving its performance (increase of profit, business scope, number of employees and labor productivity, and reduce of operating costs). The paper explores the nature of relationship between innovation and standardization (in the broader context of standards) and the way they affect the achievement of the performance of the business entity. The survey was conducted on a methodological approach based on the analysis of literature sources and case studies, and empirical results of previous research on this topic based on statistical method. The survey results confirmed the validity of the assumptions imposed on the existence of the relationship, ie mutual impact between these phenomena (both the impact of innovation on standardization, and vice versa), especially when the business entity in question, but they did not explicitly confirm the statistical significance of the relationship between them. In conclusion, it is emphasized that between these phenomena (innovation and standardization) exists a positive correlation or mutual complementarity, but not necessarily causality.
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