Glossary skill development

NSN Glossary

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There are currently 4 names in this directory beginning with the letter O.

OECD - The Organisation for Economic Co-operation and Development is an intergovernmental economic organisation with 36 member countries, established in 1961 to encourage economic progress and world trade. It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seeking answers to common problems, identify good practices and coordinate domestic and international policies of its members. Most members of OECD are high-income economies with a very high Human Development Index (HDI) and are regarded as highly developed countries.The OECD is financed by contributions from member states .The mission of the Organisation for Economic Co-operation and Development (OECD) is to promote policies that will enhance the economic and social well-being of people around the world. Learn more:

OJT -On-the-Job Training can be described as the process of passing along the skills, knowledge, and competencies needed for employees to perform a specific job in the environment of their workplace. On-the-job training is highly effective because it uses the existing workplace tools, machines, documents and equipment which simplifies the process of adapting to the new work environment. This type of training is normally used for practical tasks. On-the job training is not the most effective or efficient method however, it is easy to arrange and manage. No transfer of learning is required, and because the training is performed on the job it is highly realistic. On-the-job training is inexpensive and it doesn’t require special equipment but what is normally used for the specific job and does not require a training guide. OTJ is a subject for many researches, highlighting its importance and benefits. A large majority of employee learning is accomplished through on-the-job training. When well designed, OTJ training program provides the needed resources and knowledge from competent staff managers, while setting a performance standards. Learn more:

OPEX -An operating expense, operating expenditure, operational expense, operational expenditure or opex is an ongoing cost for running a product, business, or system.Its counterpart, a capital expenditure (capex), is the cost of developing or providing non-consumable parts for the product or system. For example, the purchase of a photocopier involves capex, and the annual paper, toner, power and maintenance costs represents opex. For larger systems like businesses, opex may also include the cost of workers and facility expenses such as rent and utilities.In business, an operating expense is a day-to-day expense such as sales and administration, or research & development, as opposed to production, costs, and pricing. In short, this is the money the business spends in order to turn inventory into throughput. Learn more:

OSHA -The Occupational Safety and Health Administration is an agency of the United States Department of Labor. Congress established the agency under the Occupational Safety and Health Act (OSH Act). OSHA's mission is to assure safe and healthy working conditions for working men and women by setting and enforcing standards and by providing training, outreach, education and assistance. The OSHA Training Institute, which trains government and private sector health and safety personnel. The agency is also charged with enforcing a variety of whistleblower statutes and regulations. OSHA's workplace safety inspections have been shown to reduce injury rates and injury costs without adverse effects to employment, sales, credit ratings, or firm survival.The OSH Act covers most private sector employers and their workers, in addition to some public sector employers and workers in the 50 states and certain territories and jurisdictions under federal authority. Learn more:

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