Industry Standard

An industry standard refers to a set of guidelines, practices, or specifications widely accepted within a specific sector. These standards ensure consistency, quality, and safety across products and services. They are created by professional organizations or regulatory bodies and help businesses and consumers have a common understanding of what to expect. By adhering to these standards, companies can compete fairly, and consumers can make informed choices, knowing that certain criteria are met. For example, safety standards in construction ensure that buildings are safe to occupy.