skill

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Skill

The ability to accurately forecast returns. We measure skill using the information coefficient.

Skill

The ability to perform a task well. For example, a locksmith has the skill to make new keys for customers' homes and cars. Skills are required to perform many jobs and employers will only hire persons who fit the required skill set. As a result, skilled workers are often more highly paid than unskilled workers.

skill

any competence possessed by someone; in an employment context it often refers to a combination of knowledge and manual dexterity amongst manual workers. JOBS are often categorized as skilled, semiskilled or unskilled according to the level of skills apparently required to perform them. However, many argue that there is a mismatch between skills that are actually necessary to perform certain jobs and the nomenclature of the job. Jobs classed as skilled may in reality require little skill (perhaps because of the introduction of new technology) whilst unskilled jobs may require more knowledge than is often recognized (tacit skills). It is therefore argued by some that skills are socially constructed. By defining certain jobs as skilled, entry to them can be restricted to those who possess certain recognized competencies or characteristics. If acquisition of these can be controlled then entry to the job can be restricted. In this way the rewards stemming from the job can be maintained at a high level. This has traditionally been the strategy of craft TRADE UNIONS and of PROFESSIONALS. See SOCIOLOGY OF WORK, TRAINING.

skill

any competence possessed by a person, although in an employment context it often refers to a combination of knowledge and manual dexterity among manual workers. JOB or work tasks are often categorized as skilled, semi-skilled or unskilled according to the level of skills apparently required to perform them.

A key factor in upgrading skills is investment in TRAINING, both in terms of the provision of general education facilities by the government and, more specifically ‘on-the-job’ or vocational training facilities by firms and by the government.

The general level of skills of a firm's LABOUR FORCE is an important factor in increasing PRODUCTIVITY while, more generally, the skills of the labour force, as embodied in HUMAN CAPITAL, contribute to the achievement of higher rates of ECONOMIC GROWTH.

References in periodicals archive ?
The duty of one undertaking to procure insurance for another is to exercise good faith and reasonable skill and diligence.
In a statement, the units said, 'Ansbacher wrongly represented and advised that the project had negligible risk, when Ansbacher knew or ought to have known had it exercised reasonable skill, care, and diligence, and properly carried out due diligence, that the project was very risky.
With regard to proof of the applicable standard of care and proof that it went unmet, the court found that "[a] physician or surgeon is bound to possess and use reasonable skill, not perhaps the highest degree of skill that one learned in the profession may acquire, but reasonable skill such as physicians in good practice ordinarily use and would bring to a similar case.
The "sick doctor statute" defines the inability of a physician to practice medicine with reasonable skill and safety to his patient(s) because of one or more enumerated illnesses.
This can include, but not be limited to a plea of nolo contendere entered to the charge; or a displayed inability to practice nursing as a registered professional nurse or licensed undergraduate nurse with reasonable skill and safety due to illness, use of alcohol, drugs, narcotics, chemicals, or any other type of material, or as a result of any mental or physical condition.
I also firmly believe hitting a moving target and especially hitting a moving target while you yourself are moving is a complex acquired skill requiring regular practice to obtain a reasonable skill level.
the court held that Mortgage Source failed to act in good faith and with reasonable skill, care and diligence for the benefit of the borrower, and breached its fiduciary duty in a number of ways: It obtained an appraisal that was unreasonably inflated, obtained a loan on terms it knew the borrower could not repay, failed to keep the borrower informed about the terms of refinancing and made false representations that the borrower could refinance in six months.
In the VRP Agreement, Wittorf stipulated that he was unable to practice the profession of nursing with reasonable skill and safely to patients due to his chemical abuse or dependency since November 2000.
A director is not expected to exercise skill in matters with which he is unfamiliar, but he is expected to take care and exercise reasonable skill in matters in which he is familiar.

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