experience curve

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experience curve

or

learning curve

the cumulative process whereby, as the managers and labour force of a firm gain greater experience of a new technology by repetitive contact, they become more efficient at operating it, which enables unit costs of production to be reduced. Additionally familiarity with a technology and the development of associated skills and expertise can provide a platform for further technological advances. Thus, a firm's unique embodied experience can enable it to establish COMPETITIVE ADVANTAGES over rival suppliers.

Experience curve theory states that every time the same task is carried out, then the time taken to complete the task falls by some fixed amount. Thus if a task takes an hour to complete the first time, it will take some proportion less to complete the second time and a similar reduction will take place the fourth time, eighth time and so on, until a stable task time is achieved. Tasks are evaluated on their complexity, the more complex, the lower will be the rate of time reduction. See SPECIALIZATION, PRODUCTIVITY.

experience curve

or

learning curve

the process whereby managers and operators learn from experience how to operate new technologies more effectively over time such that a growing familiarity with, and the repetitive operation of, a new technology enables unit costs of production to be progressively reduced. See PRODUCTIVITY.
References in periodicals archive ?
The Learning Curve boss also highlighted how funding must also be tapped into and that firms should also consider diversification.
The collaboration between Teesside University and Learning Curve Group will tackle all levels of apprenticeships and training with the aim that every student across the North-east gets exactly what they need to make the most of job opportunities.
The purchase of Profound is part of Learning Curve Groups continuing development strategy, which is being delivered both organically and through the targeted acquisitions of complementary businesses that can enhance the Groups provision to its national client base.
This is a crucial point, as regardless of radiographic measures or other often reported hospital metrics such as operative time, patients reported equivalent outcomes regardless of their treatment point in the learning curve.
(4) An extremely variable learning curve has been documented for PSM rates after RARP--with prior series estimating a plateau in PSM rates after 20 to 1600 cases.
A learning curve is a collection of data points ([x.sub.j], [y.sub.j]), which describe how the performance ([y.sub.j]) is related to training sample sizes ([x.sub.j]), where j = 1 to m, m being the total number of instances.
Most studies on the learning curve of robotic surgery have evaluated the entire operation time.
Learning Curve, which was itself sold by its original owners in a private equity-backed deal in March, has taken over Work-Wise Personnel Limited (WWP) to capitalise on opportunities created by the Government's new education and skills policy.
In the third article, "Acquisition Challenge: The Importance of Incompressibility in Comparing Learning Curve Models," authors Justin R.
"November has been a massive learning curve but a very good learning experience for me," he admits.
And Neilson said: "I've been doing the majority of the negotiating and it's a learning curve for me, which Craig Levein is helping me with.

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