Best Practices - What is the concept of best practice?

Q: What is the concept of best practice?

Best practices are a set of guidelines, ethics or ideas that represent the most efficient or prudent course of action, in a given business situation. Best practices may be established by authorities, such as regulators or governing bodies, or they may be internally decreed by a company's management team.

Answer

To put it simply, best practices are a collection of rules, principles, or concepts that stand for the most sensible and effective way to do business in any particular circumstance. Regulatory agencies, regulatory organizations, or even a company's upper management might issue decrees outlining best practices.

Best Practices - What is the concept of best practice?

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