What is the point of British Standards?

Could you elaborate on the significance and purpose of British Standards? What role do they play in ensuring quality, safety, and consistency across various industries and sectors in the UK? How are they formulated and updated to keep pace with evolving technologies and market demands? Are they mandatory or voluntary, and what are the benefits for businesses and consumers who adhere to these standards? Additionally, how do British Standards compare to international standards, and how do they contribute to global best practices?