Best practice is a way of doing things in business that is either standard (ie an accepted norm) or more effective at delivering results than any other practice. It can be based on self-assessment or benchmarking against other business and industries. You can apply best practice in all business areas.
Following best practices typically involves looking at how successful businesses operate and introducing their ways of working into your business. The idea is that with tried and tested processes, you can reach a desired outcome in the most efficient and effective way, often with fewer problems and complications.
A best practice strategy can help you increase sales, enter new markets, improve quality, grow skills and respond quickly to challenges and changes in your business environment.
This guide explains what is best practice in business. It also describes the various best practices in business management, operations management, sales and marketing, human resources, IT and innovation.