standards

(noun)

Any norm, convention, or requirement.

Related Terms

Examples of standards in the following topics:

  • Setting Objectives and Standards

    • A company's standards define its practices, while its objectives define what actions the company needs to take.
    • A company's standards define how it should act, while its objectives determine what actions it will take.
    • Combining standards and objectives allows management to create a business strategy.
    • These standards need to be enforceable and teachable and must be communicated with clarity and simplicity.
    • Without employee buy-in the standards will be devoid of meaning and applicability, so management should focus a great deal of time and effort instilling standards through communication and observation.

  • Analyzing Organizational Performance

    • When comparing standards, it is important to make sure that the people charged with implementation understand them and consider them achievable.
    • Measuring the long-term success or failure of objectives is in part the process of evaluating the set of standards governing the operation.
    • Using this benchmark, management can reconsider objectives in the context of standards set, ensuring that they are both parallel and effective.
    • If the results far exceeded expectations, the goals or standards may be set too low.
    • Employ benchmarks and extensive research initiatives to effectively derive standards and expected results in the control process

  • Elements of Managing Control

    • The key elements of a control process include a characteristic to be tested, sensors, comparative standards, and implementation.
    • Comparison with Standards - Information should be collected and interpreted in a timely and accurate way by management and then benchmarked against previously stated organizational or competitive standards.
    • If the system is too far outside of controlled standards to have a viable solution, the project may be shut down.
    • Implementor - Finally, after collecting data and comparing it with desired standards, an implementation strategy for alterations can be integrated into the existing process.

  • Labor Laws

    • Both types of labor law define employment standards.
    • Employment standards are social norms (and in some cases also technical standards) for the minimum socially acceptable conditions under which employees or contractors will work.
    • Government agencies enforce employment standards codified by labor law.
    • These standards include concepts like minimum wage, health and safety regulations, equality, and other protections against abuse.
    • The Fair Labor Standards Act of 1938 set the maximum standard work week to 44 hours.

  • Managers Role in Ethical Conduct

    • Of course, managers are responsible for upholding ethical standards in their own actions and decisions.
    • Outline the role managers must play in implementing internal ethical standards and aligning the organization with external standards

  • The Importance of Performance Targets

    • Performance standards motivate employees and management to use their time efficiently by setting achievable objectives.
    • It is used to set a performance standard for an organization, a business unit, or an employee.

  • Feedback, Concurrent Control, and Feedforward

    • Rewards provide incentives for achievement and recognize performance relative to goals or standards.
    • Since standards and best practices are usually highlighted during decision-making, bureaucratic control makes an entire organization more efficient.
    • One disadvantage of bureaucratic control is that it may discourage creativity and innovation by making an organization more standardized and less flexible.

  • Social Responsibility Audits

    • In consequence, most social, environmental, and sustainability reports are produced voluntarily by corporations themselves and are not held to the same legal standards as financial reporting, for example.
    • The lack of clearly defined standards makes social audits different from financial audits, for which there are generally accepted standards.

  • Maintaining Control

    • Control in management means setting standards, measuring actual performance, and taking corrective action.
    • He defined it as a systematic effort by business management to compare performance to predetermined standards, plans, or objectives to assess whether performance is in line with these standards and presumably to take any remedial action required.

  • Project Management Audits

    • This usually refers to audits in accounting, but similar concepts also exist in project management and quality management, as the auditing of steps and processes in a project systematically or randomly to insure that the project is meeting estimated completion and quality standards.
    • Like a project management audit, a quality audit is an external verification that a project is compliant with regulations and standard.
    • Audits in project management also include regulatory audits to provide external verification that a project is compliant with regulations and standards.