Management scholars have considered reasons for business model failures including a lack of innovative thinking and courage to take initiative. There are different ways to develop successful ideas, such as focusing on customer needs, competencies, and changes in the business environment. Companies can also create value for customers by using data analytics, such as improving products/services, digitizing assets, and combining data across industries. For managers in India, it is important to understand innovation patterns in the Indian market and combine different strategies to stay competitive.