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The Skill-Task Matching Model: Mechanism, Model Structure, and Algorithm

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  • Da Xie
  • WeiGuo Yang

Abstract

We distinguished between the expected and actual profit of a firm. We proposed that, beyond maximizing profit, a firm's goal also encompasses minimizing the gap between expected and actual profit. Firms strive to enhance their capability to transform projects into reality through a process of trial and error, evident as a cyclical iterative optimization process. To characterize this iterative mechanism, we developed the Skill-Task Matching Model, extending the task approach in both multidimensional and iterative manners. We vectorized jobs and employees into task and skill vector spaces, respectively, while treating production techniques as a skill-task matching matrix and business strategy as a task value vector. In our model, the process of stabilizing production techniques and optimizing business strategies corresponds to the recalibration of parameters within the skill-task matching matrix and the task value vector. We constructed a feed-forward neural network algorithm to run this model and demonstrated how it can augment operational efficiency.

Suggested Citation

  • Da Xie & WeiGuo Yang, 2023. "The Skill-Task Matching Model: Mechanism, Model Structure, and Algorithm," Papers 2306.12176, arXiv.org, revised Oct 2023.
    • Handle: RePEc:arx:papers:2306.12176
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    References listed on IDEAS

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