According to Theodore Levitt, in terms of an organization's business, railroads lost market share in the 20th century because they
A) had less flexible routes than trucking.
B) defined their business too narrowly.
C) tried to create a business that appealed equally to all people.
D) priced their services too high.
E) were simply an outmoded form of transportation.

Question

Quizplus · Accepted Answer

Theodore Levitt argued that railroads lost market share because they defined their business too narrowly as being in the railroad business rather than the broader transportation business, which limited their ability to adapt to changing market needs.

According to Theodore Levitt, in Terms of an Organization's Business