The two types of standards generally used to inform public policy decisions include the following:
1. Performance Standards: These are set expectations of what an organization should achieve. They establish measurable parameters and target goals such as a certain standard of quality or level of customer satisfaction.
Performance standards help guide actions and measure success in areas such as environmental protection, public health and safety, economic development, or energy efficiency.
2. Regulatory Standards: These are legally binding rules and regulations set by national and international governments or organizations. Regulatory standards require companies to meet specific requirements and adhere to certain codes of conduct, such as following safety and environmental practices.
They serve to protect citizens and the environment from the potential harm caused by some business practices, and encourage the development and use of certain products.
How are standards classified?
Standards are generally broken down into two main categories: voluntary and mandatory. Voluntary standards are established by organizations and may be subject to approval or even conflicting standards from other organizations, governments, or even customers.
These standards may include industry-specific technical standards, quality standards, safety regulations, etc. Mandatory standards are those set out by governments and are legally binding. These types of standards may include environmental protection regulations, workplace regulations, consumer protection regulations, energy standards, and many others.
With both voluntary and mandatory standards, it is important for organizations to understand the information and guidance provided, as any breach can have serious implications.
How many standards are there?
As the number of standards can vary greatly depending on the particular field and industry. Generally, standards provide a set of guidelines that help to ensure quality work, safety, and consistency across an organization or industry.
Some of the most commonly used standards include international standards, such as those provided by organizations such as the ISO (International Organizational for Standardization) and national standards, such as ANSI (American National Standards Institute).
Additionally, there are industry-specific standards, such as those used by the automotive industry or medical device industry, as well as organizational-specific standards, such as those adopted by individual companies.
Given this wide variety of standards, it is impossible to provide a definitive answer to the question of how many standards there are.
What is the difference between ideal standard and normal standard?
The main difference between ideal standards and normal standards is the level of quality that is required to meet each standard. Ideal standards are the highest standards possible and are usually applied to products or services that are expected to perform perfectly or provide the utmost of quality.
Normal standards, on the other hand, are usually lower standards and are used for products or services that do not have to be perfect or provide the maximum quality possible. As such, ideal standards are usually more difficult to meet and often require more resources and effort to achieve than normal standards.
For example, an ideal standard for a vehicle would likely require higher quality materials and workmanship methods than a normal standard for the same vehicle. Similarly, a normal standard for a software application might be “adequate” or “acceptable” while an ideal standard would likely require further optimization and meticulous tuning.
Furthermore, ideal standards often require more rigorous and thorough testing than normal standards, in order to ensure that all requirements are met. In short, ideal standards are higher, more stringent expectations than normal standards, and require more resources and effort to achieve.
What is attainable standard in standard costing?
Attainable standard in standard costing is the standard which is achievable under normal operating conditions. It is a target or goal which can be expected within a certain period of time. It takes into account the breakdown and other unexpected variables of production.
Attainable standard is established by analyzing elements like labor, cost of materials, and overhead costs.
Achieving attainable standard is important, as it provides an accuracy of a company’s costs, helping to develop an understanding of the cost involved in producing a product or delivering a service. Attainable standard can provide a foundation for budgeting as well.
To calculate the attainable standard, management must set specific goals that can be measured and tracked. This then can be used to compare actual performance to the attainable standard, creating an attainability gap that can be addressed through corrective action.
Attainable standard serves as a goal for a period of time and is often used as part of an overall standard costing system. This system is used to identify variances that may occur in the production of a product or service and identifies areas where cost reduction or improvement is necessary.
Capable to using attainable standards, organizations can ensure they continue to remain competitive.
Are Ideal Standard and American Standard the same?
No, Ideal Standard and American Standard are not the same. Ideal Standard is a British-based international bathroom and kitchen products company, whereas American Standard is an American-based company that specializes in kitchen and bathroom fixtures, as well as many other products such as air conditioners and HVAC systems.
While both companies provide products for the same areas of the home, their offerings are very different in terms of pricing, quality, and style. Ideal Standard has a long tradition of providing high-quality, luxury products and their prices reflect this.
American Standard, on the other hand, is known for providing products that are more affordable while still being reliable and stylish. Additionally, Ideal Standard focuses mainly on the European market, while American Standard is mostly focused on the North American market.