According to Theodore Levitt, in terms of an organization's business, railroads lost market share in the 20th century because they had less flexible routes than trucking. defined their business too I narrowly. tried to create a business that appealed equally to all people.
According to Theodore Levitt, in terms of an organization's business, railroads lost market share in the 20th century because they had less flexible routes than trucking. defined their business too I narrowly. tried to create a business that appealed equally to all people.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition
Section: Chapter Questions
Problem 10E
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Question
![According to Theodore Levitt, in terms of an
organization's business, railroads lost market
share in the 20th century because they
had less flexible
routes than
trucking.
defined their
business too
narrowly.
tried to create a
business that
appealed equally
to all people.
priced their
services too high.
were simply an
outmoded form of
transnortatin](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9743b255-7a42-4c70-a9c8-715c01da65f4%2F5e345d88-79f1-4353-ad6e-738662443613%2Fkya9pq8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:According to Theodore Levitt, in terms of an
organization's business, railroads lost market
share in the 20th century because they
had less flexible
routes than
trucking.
defined their
business too
narrowly.
tried to create a
business that
appealed equally
to all people.
priced their
services too high.
were simply an
outmoded form of
transnortatin
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