The document discusses the competitive environment of the quick service restaurant (QSR) industry. There are high threats from potential new entrants due to low capital requirements and easy access to suppliers. However, buyer power is also high due to many QSR options and low brand loyalty and switching costs. Supplier power is high since suppliers are concentrated, though buyers could not easily integrate backward. Substitute threats are high given many similar QSR chains. Industry rivalry is intense as QSRs make up a large portion of food sales and there is diversity among competitors.