International Business Management
ISSN: OnlineISSN: Print 1993-5250
Abstract
In a competitive market socially-economic processes are characterized by probabilistic and scholastic character and arising from this uncertainty requires to take into account the significant business risk in acceptance of management decisions. That is why, developed countries have begun to recognize the need for state intervention in the market mechanism through the administrative-legal mechanisms for regulating standardization. Such state support is reflected in normative acts of administrative-legal regulation by which compensated for the inherent uncertainty of market forces and a high degree of business risk which confirms the impossibility of functioning of the market mechanism separate from the social processes and separate from government influence. One of the main conditions of an environment for innovation, expanding the boundaries for Foreign and domestic trade, attracting investment and improve the competitiveness of business is standardization. State regulation of this important area allows to solve a significant range of tasks of industry and the socially-economic sector. World experience shows that the state’s efforts in the field of standardization give higher GDP growth than other methods of state regulation.
How to cite this article:
Andrei A. Mamedov, Vladimir V. Ytkin and Vera N. Batova. National Standartization System as the Basis for Economic Competitiveness of Domestic Business.
DOI: https://doi.org/10.36478/ibm.2015.1202.1209
URL: https://www.makhillpublications.co/view-article/1993-5250/ibm.2015.1202.1209