Over the past decade, companies across almost all industries in India have been changed by competition both within the country and outside. India is no longer isolated from the economic mainstream. The patterns that are emerging in business world wide are bound to be repeated here. The year 2006 has been a very good year for the Indian business. Our markets have recovered and the mood has been upbeat. The Indian Economy, hitherto seen as a slow moving elephant has suddenly got the spring of a swift tiger. But we cannot rest on our laurels.Our efforts will have to double up, particularly when there exists an increasing possibility of winnings. For Indian business, this involves a change of strategy, structure, culture, compensation and every thing from sparking innovation to streamlining internal processes.