Software development has always been a supply side affair, in which domain experts were the main requirement providers. Software engineers have been creating new technologies, frameworks and methodologies but this has made the software engineering job more complex. Recently all this has been looked at from demand-side prospective. So a new concept of Service Based Software Engineering is shaping up which look at the software as a service rather then a product. This paper is going to analysis the fundamental requirements of such a paradigm shift, by first gathering the concept and then translating this to a workable solution. Different allied concept associated with the implementations will be analyzed. Software engineering from ground-up, totally from a different angle will be looked into. We will try to contrast the existing approaches vis-à-vis Service Based Software Engineering.
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