Industries in Which Proportionally More Value Is Added in Upstream

question 80

True/False

Industries in which proportionally more value is added in upstream activities are more likely to benefit from a global strategy than those in which more value is added downstream (closer to the customer).

Identify and describe the categories of adopters in the diffusion of innovation process.

Explain the role of product characteristics (e.g., relative advantage, compatibility, trialability, observability, and complexity) in the adoption process.

Analyze how pioneer products change consumer behavior and create new markets.

Understand the challenges faced by first movers and how they establish markets.

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Definitions:

Labor Supply

The total hours that workers are willing and able to work at a given wage rate.

Wages

Payments made to workers for their labor, typically calculated on an hourly, daily, or piecework basis.

Landscaping Workers

Individuals engaged in the modification of visible features of an area of land, including living elements like flora and the shaping of landscapes.

Efficiency Wages

A theory suggesting that employers pay higher than the market-clearing wage to increase worker productivity, loyalty, and satisfaction, thus reducing turnover and shirking.