Building markets and industries

IEC work helps companies gain the trust of stakeholders and investors

By Gabriela Ehrlich

Many companies around the world participate actively in IEC standardization. IEC Global Visions has interviewed some of their CEOs and CTOs to find out why - despite economically challenging times - they see value in sending experts to work in the IEC.

Thomas Gross - 4
Thomas S. Gross, Chief Operating Officer, Eaton Corporation

CEOs and CTOs are notoriously busy people. They generally don’t like to waste time on details and unimportant stuff. The fact that so many of them have accepted to be interviewed for IEC Global Visions is testimony to the importance they allocate to our work.

Small and big companies depend on the trust of consumers, investors, regulators and even insurers to build new or expand existing markets. IEC work helps them gain that trust. IEC International Standards contain key elements that allow companies to take important short-cuts; the kind that allows them to build consistently and verifiably better products.

Industry leaders tell us that because of their participation in the standard setting process, they are able to reduce production cost while improving innovation and design processes. When their standardization experts sit at the table where the rules for global trade are written, they are able to ensure that their company’s technologies are taken into account and that competition doesn’t have the only say.

When we talk to CEOs of new industries or of start-ups they tell us that their participation in the IEC makes it easier for them to convince investors or gain regulatory approvals. They find it allows them to avoid mistakes others have made before and helps them in the certification process.

Thomas Gross - 4 Thomas S. Gross, Chief Operating Officer, Eaton Corporation
Zida Yu - 2 Dr Zida Yu, Senior Vice President and Corporate Technology Officer, Haier Group
George W. Arnold - 2 George W. Arnold, Chief Operating Officer, NIST (National Institute of Standards and Technology)