Strategy for technology standardization based on the theory of entropy

Technology standardization has received a lot of attention in industries. Effective standardization strategies can bring many business benefits and help firms to achieve and sustain competitive advantages. In this paper, a systems perspective is proposed that may help in understanding the strategies for technology standardization. Based on an in‐depth analysis of the characteristics of technology standards and industrial innovation, this paper applies the theories of entropy to technology standardization and analyzes the interrelationship between technology standards and industrial innovations. We found that applying the theory of entropy to the analysis of technology standardization can help firms to better understand the interrelationship between technology standards and industrial innovations.