Globalization of business, liberalization of economies and integration of markets the world over have opened up horizons of prosperity and growth. The evolution of Internet has brought about opportunities thriving on technology, ingenuity and initiative. The fast pace of changes has brought out the need to give a fresh look to traditional methods of establishing and managing business. Understanding these changes has been both crucial and critical to the success of the practicing manager. The technological changing and business practices are rapidly. Keeping pace with time and staying ahead has been the most demanding challenge of all the managerial skills required today.