From the www.scorm.com website:
SCORM, which stands for Shareable Content Object Reference Model, is a set of technical standards for eLearning software products. SCORM tells programmers how to write their code so that it can “play well” with other eLearning software. It is the de-facto industry standard for eLearning interoperability. Specifically, SCORM governs how online learning content and Learning Management Systems (LMSs) communicate with each other. SCORM does not speak to instructional design or any other pedagogical concern — it is purely a technical standard.