In the 20th century railroads may have let other forms of transportation take business away from them because their definition included only the railroad business, rather than the broader definition of _________.

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By defining themselves solely as a railroad business, railroads limited themselves to their traditional role of transporting goods and passengers on rails. This narrow definition excluded opportunities to expand into other modes of transportation, such as trucking or air cargo, which ultimately led to decreased market share for railroads. A broader definition of the industry as "transportation" would have allowed railroads to compete more effectively with other modes of transportation and adapt to changing market demands.

In the 20th Century Railroads May Have Let Other Forms