Knowledge focuses on the understanding
of concepts. It is theoretical and not practical. An
individual may have an understanding of a topic or tool or
some textbook knowledge of it but have no experience applying
it. For example, someone might have read hundreds of articles
on health and nutrition, many of them in scientific journals,
but that doesn't make that person qualified to dispense
advice on nutrition.
Skills are the capabilities or
proficiencies developed through training or hands-on
experience. Skills are the practical application of
theoretical knowledge.Someone can take a course on investing
in financial futures, and therefore has knowledge of it. But
getting experience in trading these instruments adds
skills.
Abilities are often confused with
skills, yet there is a subtle but important difference.
Abilities are the innate traits or talents that a person
brings to a task or situation. Many people can learn to
negotiate competently by acquiring knowledge about it and
practicing the skills it requires. A few are brilliant
negotiators because they have the innate ability to
persuade.
