Impacts of Standards on Nation Building

Discussion in 'Compliance, Regulations and Standards' started by Ibn_AbdurRahman, Feb 22, 2017.

  1. It is no puzzle that certain countries in Asia are top of the fastest growing economies in the world. It is more than a mere coincidence that there are more countries in the Asian continent on the list than any other continent. Hopefully, Africa would catch up too. But this is not a numbers game. What comes to mind when documentaries on people, culture and industries in Asia comes on the screen - the people are fixated. They are so obsessed with standards. There is like a standard for everything even when/if one for the International Organization for Standardization (ISO) does not exist. :D

    I recently completed an evaluation of research related to the Business Continuity and Disaster Recovery approaches adopted by Banks and other Financial Institutions. The review focused on ten academic papers from 2010 to 2016 specifically related to the topic (about 63 or more publications were gathered and pruned it to the best ten). For the ten publications, seven were related to the banks and financial institution in Asia. Thereafter, a map of the key themes discussed in the literature was mapped to the continent based on the location of the banks or financial institution. See Figure 1 below:

    upload_2017-2-22_21-1-56.png

    Though not the focus of of my evaluation, it was quite clear why countries in Asia are thriving. The regulatory drive for compliance and standards are impressive - no wonder we have not yet heard of financial institutions melt-down in these countries. Ascribing due importance to issues like business continuity and disaster recovery in my view could be generalized to taking cognizance of other and more important cooperate ethics and standards most likely predominant in Asia. Where not driven by Regulators, organizations are self driven to adopt best practice standards and framework in the quest for excellence. This is unlike their peers in other continents.

    Though, there is a limitation to the claims above which was explained in my research, it is best to conclude with a quote from the ISO 2012 survey which states there seems to be "strong demand for standards in lower-cost labour markets to reinforce their quality and efficiency in the market-placeā€. The key words here are Quality and Efficiency.

    NB: Access to the said publication available upon request.
     

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