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A position in which one learns a trade or occupation by working directly under a skilled person. The student (called an apprentice) may be paid a small amount or may simply receive room and board.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
apprenticeshipa form of TRAINING which involves workers committing themselves to one employer for a period of time during which they are to acquire the skills of the trade, mainly through informal instruction by those already skilled (supplemented by some college-provided tuition). Once trained in this way such workers have a set of recognized skills which can, in theory, lead to employment in any organization in the industry. The apprenticeship system has been much censured because it can transmit outdated skills, because competence is defined in terms of time served rather than skills acquired, and because it serves to limit the supply of skilled labour. The employer may not recoup the costs of an apprenticeship in the long run because the apprentice, once trained, may leave for alternative employment. The long-term decline in the apprenticeship system in the UK accelerated towards the end of the 1980s as government removed many of its statutory supports, e.g. by abolishing the Industry Training Boards (established in 1964) and removing the right of those remaining to levy ‘taxes’ on employers to support training. However, mounting alarm about skill shortages led to the apprenticeship system being revitalized in the mid-1990s as the modern apprenticeship. This new form of apprenticeship leads to a NATIONAL VOCATIONAL QUALIFICATION, whilst progress during the apprenticeship is monitored more systematically (with reference to clear industry standards) than under the traditional system.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson