Skill Development via 'Learning by Doing' as a Relationship-Specific Asset
Within a stable employment relationship, employees and managers enhance their job-specific skills through practical experience, a process known as 'learning by doing'. These acquired competencies are a primary example of a relationship-specific asset, as their value is often greatest within the particular firm where they were developed.
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Economics
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Introduction to Microeconomics Course
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CORE Econ
Ch.6 The firm and its employees - The Economy 2.0 Microeconomics @ CORE Econ
The Economy 2.0 Microeconomics @ CORE Econ
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Oliver Williamson
Skill Development via 'Learning by Doing' as a Relationship-Specific Asset
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An employee's mastery of a universally recognized and industry-standard software program is a prime example of a relationship-specific asset.
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Skill Development via 'Learning by Doing' as a Relationship-Specific Asset
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Development of Workplace Relationships as Relationship-Specific Assets
Learn After
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- Strategy 1: Pay for technicians to attend an external, industry-wide certification course on general electronic assembly and repair.
- Strategy 2: Develop an extensive in-house training program focused on the company's unique manufacturing processes and custom-built equipment.
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