Answer:
The learning effect in business refers to the phenomenon where individuals or organizations improve their performance and efficiency over time as a result of gaining experience and acquiring knowledge. This improvement is typically seen in areas such as product quality, decision-making, problem-solving, and overall productivity. The learning effect can result in cost savings, increased competitiveness, and enhanced profitability for businesses. Organizations that actively encourage a culture of learning and development among their employees are likely to experience greater benefits from the learning effect.
