Final answer:
The species designation in the taxonomic classification system gives a formal taxonomic status to a group of related isolates. It is used to define and categorize organisms based on their shared characteristics and genetic similarities.
Step-by-step explanation:
The species designation in the taxonomic classification system gives a formal taxonomic status to a group of related isolates. It is used to define and categorize organisms based on their shared characteristics and genetic similarities. The species is the smallest and most exclusive taxon in the classification hierarchy, and it is determined by factors such as interbreeding and morphological similarities.