Best practices are used to maintain quality as an alternative to mandatory legislated standards and can be based on self-assessment or benchmarking. Best practice is a feature of accredited management standards such as ISO 9000 and ISO 14001.
Definition of monetary for English Language Learners. : 1  of or relating to money. : 2  of or relating to the money in a country's economy.
uk â /ÉªnËsentÉªv/ us â. âº something, especially money, that encourages a person or organization to do something: financial/fiscal/monetary incentive Cash grants were part of the financial incentives given to developers of new solar power technology.