Business Times of Edmond, Oklahoma August 2018 - Page 26

BUSINESS MATTERS JIM DENTON L EDGER L INES T The Ultimate Competitive Advantage oday, companies compete fiercely for customers and employees. Many firms struggle to maintain market share and relevance in an everchanging landscape. Businesses are constantly faced with new regulations, technologies and customer demands that far exceed what we experienced a few years ago. What would our businesses be like if we were able to achieve any goal that we set? What would it be like to work for an enterprise that was so intentional that it knew exactly when to adapt to new methods and technologies at the best possible times? What if new, hungry customers and engaged team members were beating our doors down to do business with us? I believe the movement toward answering these questions lies in our ability to learn and change. Such agility in our culture leads to a highly competitive advantage. Learning about what is new in your industry is a necessary first phase of such a process. Here are some practices that I see successful executives and their leadership teams doing to enhance their knowledge of the industries in which they work: • Studying the key trade periodicals regarding trends in their industry. • Absorbing books and publications about trends in their industry. • Embracing books about leadership, culture and how to affect change in organizations. • Becoming skilled in human dynamics. 26 August 2018 | The Business Times • Upgrading skills with new technology at a local college or vocational technical center. • Inv