Business competition is inevitable in every industry. For this reason, firms cannot afford to be spectators in the arena. They need to recognize and understand that their existing successful strategies may not be applicable over time as competition of the future may be different from the present. The current skills and structures of organizations may have to be transformed as they adapt to the changing business realities. Enterprises are therefore expected to anticipate changes in the business environment and prepare for the consequences rather than being reactive to market demands. Engaging in innovation and making it the core strength of a company is one sure way of staying ahead in the midst of business competition.