In order to face tough competition from the Market place the company should invest more

in technologies which will help the companies to deliver the service to customer more
efficiently and quickly. Technology will help the company to build a barrier to entry for
competitors and also help in saving the cost of the company which will enable them to
provide service at a lower cost than its competitors. Installing an online network to its key
customers faster the process as the customer’s orders are directly feed in the computer and
later the marketing team can deliver the customers need at much quicker speed . Technology
provides competitive advantage as its main is to reduce the human effort and provide flexibility
to customer and in turn results in attraction of more customers and increase in profit of the
company.

Following are some of the technology which company can implement to face the competition
effectively –

1) Block Chain

Block chain helps in managing data effectively and help to overcome supply chain
challenges by managing transaction over internet in faster way and its smoothen the process

2) Quantum Computing

Quantum computing helps in analyzing large data in lesser time. It is very essential for
company where there are lot of data to deal with.

3) Bio Metrics

Security can be improved with the use of Biometrics and also employees performance can
be monitored easily through this system which motivates the employees to work hard and it
result in customer satisfaction.

4) Robotics

Many companies are moving to automation to faster the process by eliminating the use of
manpower to a certain extent. Even though it is costly and not that affordable to all it
definitely provide a competitive advantage in the market.
By focusing on implementation of technology company can overcome this challenges put forward
by its competitors.