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111) 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. Answer: B Explanation: In the first half of the 20th century, the American railroads proclaimed, "We are in the railroad business!" This narrow business definition lost sight of who their customers were and what they needed. Difficulty: 2 Medium Topic: The Mission Statement Learning Objective: 02-02 Describe core values, mission, organizational culture, business, and goals. Bloom's: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation 112) In the 20th century, managers of railroads let airlines, barges, pipelines, and trucks take business away from them because their strategies were developed only for the railroad business, rather than a broader definition of the ________ business. A) transportation B) transcontinental shipping C) passenger travel D) product delivery E) bulk cargo Answer: A Explanation: Professor Theodore Levitt saw that 20th century American railroads defined their business too narrowly, proclaiming, "We are in the railroad business!" This myopic focus caused them to lose sight of who their customers were and what they needed. So railroads failed to develop strategies to compete with airlines, barges, pipelines, and trucks. As a result, many railroads merged or went bankrupt. Railroads should have realized they were in "the transportation business. Difficulty: 2 Medium Topic: The Mission Statement Learning Objective: 02-02 Describe core values, mission, organizational culture, business, and goals. Bloom's: Understand AACSB: Analytical Thinking Accessibility: Keyboard Navigation

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Test Bank for Marketing 14th Kerin  

Test Bank Marketing 14th Edition Kerin 2019 (Test Bank Download) (9781259924040) (1259924041). Instant access. All chapter are included. All...

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Test Bank Marketing 14th Edition Kerin 2019 (Test Bank Download) (9781259924040) (1259924041). Instant access. All chapter are included. All...