Collaborative Standards, Voluntary Codes and Industry Self-regulation

Lawrence J. Lad, Butler University
Craig B. Caldwell, Butler University

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Reprinted with permission of Greenleaf Publishing.

Abstract

In a complex, global economy, firms seek a range of mechanisms for addressing regulatory and social movement pressures. This requires an evolution beyond our current models of response to regulation and control. This paper offers ideas on collaborative control and industry self-regulation as alternative mechanisms for addressing regulatory complexity. It explores a range of self-regulatory practices worldwide, proposes a framework for examining its use, potential and limits, and discusses the critical role of third-party organisations in the process.