1) What was the biggest surprise for you in the reading? In other words, what did you read that stood out the most as different from your expectations?
The ability of certain companies in particular industries to generalize their parts in such a way that they can easily switch between suppliers. With this, they can minimize the profit that trickles down to the suppliers and be the only focus. I had never thought about this being a potential strategy before.
2) Identify at least one part of the reading that was confusing to you.
Most of what I read seemed to be pretty straight forward. A lot of the topics were things that I haven't really thought about before, such as certain strategies that companies must take to retain market share, but for the most part none of it was confusing.
3) If you were able to ask two questions to the author, what would you ask? Why?
What is the hardest barrier of entry to overcome? I know that all barriers are difficult to overcome as they are barriers for a reason, but which one do most firms struggle the most with.
With some firms developing their own market, what can they do to ensure that the barriers to entry stay high enough for them to retain most of the profits? Many small businesses often have good ideas, but then are taken over by larger companies with more capital that can produce the product or service for cheaper, thus pushing them out.
4) Was there anything you think the author was wrong about? Where do you disagree with what she or he said? How?
I didn't see anything in the reading that stood out to me as wrong. Most of what the author was talking about was very insightful and all of it made sense.
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