Definition of a Best Practice

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Definition of a Best Practice

The term “Best Practice” is an industry-wide description for approaches, processes, or procedures which have been proven to deliver exemplary results in areas critical to an organization’s mission, or purpose. “Best” is not meant to imply the ultimate, singular, and only preferred way to achieve a stellar result; rather, it is intended to mean one of potentially many approaches used by industry leaders to win in their markets. Often, the terms “effective,” “exemplary,” or “superior” are used instead of “best” to avoid this confusion.

The concept of “best practices” has been around since humans first walked on the planet and copied (or stole) a utensil used by another. In today’s business environment, adopting and utilizing best practices can lead to a strategic advantage for the following reasons:

a. Cycle time in the development of refined methodologies is reduced.

b. Analytical, research, and development costs are reduced because one is not "recreating the wheel."

c. The likelihood of success is increased because one is adopting a proven approach.

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