What Is a Technical Standard?

A technical standard is omnipresent to be really dealing with every day. So standards, we calld it inter operability. They really create the fact that we can use different technologies of different products in concert. Can you talk a bit about how does a standard emerge for a new technology? What is the process like by which we come to that point where there is interruptability and who makes the final stamp of approval to say that this is now a standard?