Week 6 Reading Reflection

I was surprised to think about how the rivalry among competitors can diminish profitability.  But when reading the article it makes complete sense because when there are new competitors in a particular industry the other companies have to worry about raising their prices. If they raise them while a new competitor has lower prices than that then they lose out on certain profits. I think the exit and entry barriers confused me the most of the entire article. What are the entry barriers and exit barriers and why do they exist? The text explained the barriers but I still did not quite grasp the point behind them so I would not mind more explanation. I do not disagree with anything the author said I think the five forces concept makes sense for describing competitors.