standard

(noun)

A level of quality or attainment.

Related Terms

Examples of standard in the following topics:

  • Quality Inspections and Standards

    • The International Organization for Standardization (ISO) created the Quality Management System (QMS) standards in 1987.
    • The ISO 9002 and 9003 standards were integrated into one single certifiable standard: ISO 9001:2008.
    • After December 2003, organizations holding ISO 9002 or 9003 standards had to complete a transition to the new standard.
    • In 2005 the International Organization for Standardization released a standard, ISO 22000, meant for the food industry.
    • This standard covers the values and principles of ISO 9000 and the HACCP standards.

  • Technological Barriers

    • Standards-related trade measures, known in WTO parlance as technical barriers to trade play a critical role in shaping global trade.
    • As tariff barriers to industrial and agricultural trade have fallen, standards-related measures of this kind have emerged as a key concern.
    • Significant foreign trade barriers in the form of product standards, technical regulations and testing, certification, and other procedures are involved in determining whether or not products conform to standards and technical regulations.
    • Standards-related measures serve an important function in facilitating global trade, including by enabling greater access to international markets by SMEs.
    • But standards-related measures that are non-transparent, discriminatory, or otherwise unwarranted can act as significant barriers to U.S. trade.

  • Standardization and customization

    • While the global product itself is standardized or sold with only minor modifications, the branding, positioning, and promotion may have to reflect local conditions.
    • (Philip Kotler, "Global Standardization-Courting Danger," Journal of Consumer Marketing, Vol. 3, No.2, Spring, 1986, pp. 13-20. ) Kotler suggests that all eleven factors should be evaluated before standardization is considered.
    • While critics of Levitt can offer thousands of anecdotes contradicting the validity of standardization, a more careful read of Levitt's ideas indicate that he offers standardization as a strategic option, not a fact.
    • Standardized products can lower operating costs.
    • Too often, executives view global marketing as an either/or proposition-either full standardization or local control.

  • Fair Labor Standards Act

    • The category they fall in depends on rules established by the Fair Labor Standards Act.
    • It declared the goal of assuring "a minimum standard of living necessary for the health, efficiency, and general well-being of workers."
    • The standards apply to employees in the private sector and in Federal, State, and local governments.
    • This graph of the minimum wage in the United States shows the fluctuation in government guarantees for minimum standards of labor.
    • Explain the specifications of the Fair Labor Standards Act of 1938 (FLSA)

  • Putting the infrastructure in place: a call for new standards

    • Meanwhile, Germany's standards agency, established in 1887, was busy setting rules for everything from the contents of dyes to the process for making porcelain – with other European countries following suit.
    • These technological standards not only promoted innovation, they also helped protect national industries from falling behind those of another.
    • Similarly, today, China, India and other rapidly growing nations – including those in the European Union –are adopting new standards that speed the deployment of new technologies and products.
    • A good strategy, therefore, is for a nation to not only continue developing higher standards and better infrastructure, but also to devise a strategy to apply its new and tougher standards consistently and quickly.
    • As technologies improve, higher standards are therefore established that enable a virtuous cycle of improvement.

  • Standard Benefits

    • Standard benefits span a wide variety of employee needs, and represent a key reason for employees to find full-time employers who provide a full selection of standard benefits.
    • Legal assistance plans - Not quite as standard as the rest of the benefits above, legal assistance plans can be put in place for jobs where personal liability is high.
    • While there are other, less common benefits that can be provided, this list is a comprehensive overview of what employees can normally expect from employers in regards to standard benefits of employment.
    • List the various standard benefits human resource professionals must take into account when compensating employees

  • Global finance: initial considerations

    • The International Accounting Standards Committee (IASC) Foundation, formed in March 2001, is the parent body of the International Accounting Standards Board (IASB).
    • The IASB, formed on April 1, 2001, has assumed accounting standard-setting responsibilities from its predecessor body, the IASC (International Accounting Standard Boards: About Us, n.d.).
    • To bring about convergence of national accounting standards and international accounting standards to high quality solutions (Hussey, 2005).
    • Even though the IASB standards are not enforced internationally at this time, the standards are quickly being processed.
    • Therefore, a company looking to go international should abide by IASB standards.

  • Quality Control

    • Quality control is a process that evaluates output against a standard and takes corrective action when output doesn't meet that standard.
    • Quality control is a process that evaluates output against a standard and takes corrective action when output doesn't meet these predetermined standards.
    • The purpose of quality control is to make sure that certain processes are performing up to a company's set standards.

  • Fair Labor Standards Act

    • The Fair Labor Standards Act (FLSA) established a national minimum wage, "time-and-a-half" for overtime in certain jobs, and etc.
    • The October 26, 1949 Fair Labor Standards Amendment included changes to overtime compensation, defined a "regular rate," redefined the term "produced," raised the minimum wage from 40 cents to 75 cents per hour, and extended child labor coverage.

  • Why an accounting system is important

    • "Financial accountancy is governed by both local and international accounting standards".
    • pragmatically computed using extensive management information systems and internal controls, instead of complying with accounting standards
    • Also, note that financial accounting reports must be prepared in accordance with national and international accounting standards.
    • In the United States the Financial Accounting Standards Board (FASB) has been the designated independent entity for established accounting reporting standards since 1973.
    • The reason for this is that there may be national standards for generally accepted standards that are, in some ways, unique to your country.