Week 6 Reading Reflection

In this weeks reading, it was nice to jump out of the text and read some material from another source. I would say the biggest surprise for me is that I did not know how many forces went in to creating competition. As far as these forces go, I think the power that buyers have is the most interesting. Buyers can drive down prices, demand better service and quality and control the seller in many other ways. The most confusing part of the reading was when the article talked about defining the relevant industry. This is important because it lets the companies know where they stand and who the real competitors are in the market. I would ask the author, "Why does competition sometimes cause the best results for consumers, but sometimes the worst as well?" I would also ask, "What is the number one barrier of entry in most markets?" I would be interested to hear the answer to both of these questions from a very reliable source. I really do not believe the author was wrong about anything. I found all of the information very easy to read and filled with facts.