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I talk about the learning curve - the idea that performance increases at a decreasing rate with experience. Learning curves are sometimes called progress curves, however, this is not popular terminology.
Where does learning come from? Generally comes from increased efficiency with routines and procedures, but also with the acquisition of knowledge to forecast and adapt before errors are made.
What is an example of a learning curve? The classic examples in business include have Air-Frames are built with less unit costs and Liberty Ships during the second world war were built at lower costs with experience.
What does a steep learning curve mean? Generally, a steep learning curve meaning is opposite of what you think it is. Most people think that a steep learning curve means it is very difficult to learn something, however it is the opposite. A steep learning curve means that you quickly progress in performance with experience. Shallow learning curves are the ones in which you do not improve very quickly with performance.
Where has learning curves have been studied? Learning curves have been used to study many different phenomenon, such as physician care, railway accidents, airplane accidents, mail delivery, and have been used to explain many kinds of performance, including error rates, accident rates, and unit cost.
What are the limitations of the learning curve?
1. It is not predictive.
2. I can vary a lot depending on technology and capital expenditure.
3. It does not explain where learning occurs.
4. Other variables can explain the relationship, such as quality control.
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David Maslach is a research professor of entrepreneurship, innovation, and business strategy, I discuss topics, such as behavioral science, strategy, innovation, and entrepreneurship, and apply these to my new peer proofreading and editing platform. Topics include the sharing economy, altruism, investing in technology, starting a business, and bounded rationality. My favorite videos pertain to incentives, goal setting, and learning from failure to drive behaviors such as weight loss, stopping telemarketers, creating novel technologies, and creating new movements.
[ Ссылка ]: Peer proofreading and editing platform
A new platform where you can earn credits by editing other people's documents. Use these credits to have your own work edited. If you do a good enough job, you can convert these credits to money.
The goal of the platform is to get people to 'pay it forward' and help other people out by creating incentives for people to give back.
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