Learning Curve as Effective Approach to Study Efficiency and Productivity in Business Process

Dr. Suhasini Parashar

Associate Professor, Department of Business Administration, Maharaja Surajmal Institute, Delhi,110058

10-19 Vol: 14, Issue: 3, 2024

Receiving Date: 2024-05-16
Acceptance Date: 2024-08-02
Publication Date: 2024-08-03

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http://doi.org/10.37648/ijtbm.v14i03.002

Abstract

Learning is a process/technique increasing knowledge or skill through study or experience. Learning helps to become aware of situation/state through observing or hearing about whether it is process, functioning, operational procedure etc.. The learning curve refer as the experience curve, the cost curve, the efficiency curve, or the productivity curve. It is in various form increasing, diminishing learning curve how a process(Business/Operation) is improved during time due to learning and increased proficiency/efficiency. The learning curve theory explains, it is a process which helps to study the task performed is taking less time and resources used and productivity depends upon performance due to competency/efficiency as process will be learned. A learning curve is explained the rate of improvement in techniques and gives best result in production process. In business, the slope of the learning curve represents the rate at which learning new skills/knowledge add cost-savings technique in business. In this article, the focus is on to study types and application of learning curve in business as efficiency and experience effect cost and productivity respectively.

Keywords: Efficiency; Experience Curve; Knowledge; Learning Curve; Productivity; Skill

References

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International Journal of Transformations in Business Management

Abstract