What is a standard?
"A standard is a document, established by a consensus of subject matter experts and approved by a recognized body that provides guidance on the design, use or performance of materials, products, processes, services, systems or persons ... Standards are voluntary agreements, developed within an open process that gives all stakeholders, including consumers, the opportunity to express their views and have those views considered. This contributes to their fairness and market relevance, and promotes confidence in their use."
Who develops standards?
"Standards can be developed by national, regional and international standards developing organizations and also by businesses or other organizations for their own internal use. They can also be developed by consortia of businesses to address a specific marketplace need, or by government departments to support regulations."
Source: International Standards Organization