Abstract

This study focused on analyzing the prospective diffusion of ISO standards in the context of Bangladesh. The popular ISO standards in Bangladesh are ISO 9001, ISO 14001, ISO 45001 and ISO 22000. Grey Forecasting model was employed to analyze the future diffusion. Relative growth rates and major industrial sectors for these standards were also identified as of the year 2021. The ISO survey published on its official website was used as the main source of data. The findings illuminate the possibility of increased diffusion, albeit at a gradual pace. Notably, ISO 9001 and ISO 14001 exhibit significant growth compared to other standards. Organizations might be beneficial from this study in case of policy development and business decisions. This study will offer valuable insights to open new avenues for further study in the context of Bangladesh. Furthermore, methodological insights gained through employing Grey Forecasting Model may be applicable to other developing economies.