And how could you forget cell phones. How the business world functioned before cell phones became so prevalent is anybody's guess. But the cat's now out of the bag, and it isn't going back inside any time soon. A cell phone is a must for today's executive who must be reachable by colleagues, employees, customers and partners.

You also shouldn't forget the small stuff. Getting a mug, for instance, would be ideal for the executive who likes to have some coffee or tea over the course of the day. Business gifts also include clothing, such as T-shirts, sweaters or sweatshirts. There is really no limit to what you can give as a business gift. Just be sure to keep in mind the executive you're buying for so that you can choose something most likely to be of interest to him or her.

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