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The global economy, global competition, and the global customer are all factors driving change into the way companies manage their businesses. As the vision of a global economy becomes a reality, the utilization of standardization philosophies and techniques emerge as strategic priorities for companies desiring to gain and/or sustain global competitiveness. This paper begins with an exploration of the literature that identifies the lack of standardization and standards as a strategic competitive weakness of American industry. The exploration culminates in a series of conclusions that lead to the development of a new strategic approach to standardization and the challenges facing American industry. This new approach is called Strategic Standardization Management™. The paper then outlines the benefits of standardization and describes a generic transformation process that a company can use to implement Strategic Standardization Management™.