Business innovation is no longer an option for organizations to move up the ladder. It is now in fact a necessity simply to survive. It is the best way to ward of ruthless competition of the times. Also due to increased globalization, it has become quite easy for established firms to spread their wings, and thus the only way to survive is to develop something unique. Consumers are now increasingly more demanding than ever before. Technology has meant that on the one hand there are greater tools to exploit, but on the other, easier for competitors to take a leap. It has become imperative to use Big Data applications to get best understanding of market needs and conditions. Recruitment and people management challenges are much greater today due to evolving demographics and greater diversity in terms of ethnicity. That is where innovative companies which will figure out a way to best utilize this work pool, will be in a position to excel. Existing technologies also enable us to change the way work is conducted, as younger employees as well as consumers are using mobile phones to work, take decisions and execute final purchases.