1) I was surprised from the reading that new entrants are big threats to businesses but now it makes total sense. I'm sure sometimes new businesses don't stand a chance because the businesses are so established but if we look at Uber for example we can see that new businesses can totally surpass established businesses, if the new business is revolutionary enough.
2) I'm a little confused that customers are considered competition. I think it means that because customers always want the cheapest price you must compete internally to give them the cheaper price.
3) I would ask the author, what are the best ways to deal with each form of competition and I would ask him what the biggest threat of competition is.
4) I don't think the author was wrong per se, but I'm sure lots of consumers don't want only the cheapest good, but they want a certain amount of quality for the cheapest price.
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