International standards are set forth by the International Organization for Standardization (ISO). This organization helps companies such as American Casting standardize their products in order to conform to international specifications. This is done to promote international trade in a way that lets consumers in all countries know the products they are buying are safe, good for the environment, and efficient. ISO standards help by ensuring social and economic benefits to all who participate.
When it comes to business, ISO helps companies to remain competitive in the international market by increasing productivity, reaching a broader market, increasing customer satisfaction, increasing market share, and helping to promote greener practices in an effort to protect the environment.
For consumers, ISO standards affect a wide range of products on the market, road safety, packaging of products, and air, water, and soil safety. The ISO even has a committee in place to encourage consumers to get involved. Currently, there are over 19,500 standards in place.
When it comes to governments, they are able to implement ISO standards which affect public policy. Without having to hire numerous experts to get information or have research studies done, governments can turn to ISO standards which have already been developed by professionals in their respective fields. Governments are also helped by using these standards because it lets other countries know they are importing goods that meet their own standards, which further helps to open up the world trade market. When consumers know they can trust a product from another country, they are more likely to purchase that product.
ISO continues to help protect consumers worldwide and as more and more companies get involved, more standards can be developed. This will have a positive impact not only globally, but for individuals and companies in countries around the world.