Standardization within a business sector (and even within a business itself) is common practice. Standards are best practices established by experts who know the field’s needs. The standards can be about creating a product, managing a process, delivering a service, or other operations.
The development of industry standards has long been a standard practice, too; so that individual organizations can align themselves to external norms, while customers and suppliers can also understand the organization’s processes. While several recognized external bodies create standardized systems, the most well-known and widely adopted standards come from the ISO.
ISO stands for International Organization of Standardization. The ISO is an international body responsible for creating, setting, and promoting standards.
It has published more than 24,000 standards which apply to a wide variety of industries, including manufacturing, healthcare, and accounting. ISO standards are a collection of best practices that promote product compatibility, share solutions and know-how, and identify safety issues. The standards present an approach that international experts have agreed upon.
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