In this scenario, the trend of increasing business especially leads to increase in lifestyle of every one. This will also lead to release software free and as a open source.  Especially Facebook and Yahoo release its own software as free and open source.

Facebook is socially networking site. Its is mostly used by majority of people all around world. Thus a major issue is created in handling the data of all user in Facebook which has millions of messages everyday. To solve this problem Facebook seeks helps from vendor or consultants. Thus it decided to create its own software and named it as Cassandra in 2008 by Avinash Lakshman.

Cassandra is engine which is underpinned for storing and searching through Facebook inbox. It not only solved problem of searching the data but also prove storage. It is mainly used internally by Facebook so far. Hence it released Cassandra as an open software through Apache Software Foundation. When once it is released as an open software it can be moderate according to there specific uses. Thus Apple and Wikimedia uses this software, but now days smaller companies are also uses this software.

Not only Cassandra is only open source, but there are lot of many open sources are available. Also not only facebook, plenty of other companies are also Google,Linkedin, Apple are also releases open sources regularly. Hence more open software projects is making easier for startups.

Cloud era is big data startups build its own open source Apache Hadoop. DataStax is a startups is built upon Cassandra took big funding amount of $106 late last year. Thus the startups raise the value of each open source software. There are lot of people originated open source projects to turn their idea into a sustainable business. It will also improve the wealth of a business. Mesosphere, a high-profile data center management startup helmed by the inventor of Apache Mesos, raised $36 million in last December.

Venture Capitalists made 37 investment in open source based startups in 2014. But the real fact is that these startups are based on open sources that their developer customer are very well familiar with the concept and technology.

Hence Open sources has its startup to increase the value. If u want want to increase the value of your open source then why you delay to start to use startups.! Let “Startups”

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Interpersonal Skills:

The skills used by a person to properly interact with others. In the business domain, the term generally refers to an employee’s ability to get along with others while getting the job done. Interpersonal skills include everything from communication and listening skills to attitude and deportment. Good interpersonal skills are a prerequisite for many positions in an organization.

The term “interpersonal skills” is somewhat of a misnomer, because it refers to character traits possessed by an individual rather than skills that can be taught in a classroom. Within an organization, employees with good interpersonal skills are likely be more productive than those with poor interpersonal skills, because of their propensity to project a positive attitude and look for solutions to problems.

Interpersonal skills are the life skills we use every day to communicate and interact with other people, both individually and in groups.  People who have worked on developing strong interpersonal skills are usually more successful in both their professional and personal lives. Employers often seek to hire staff with ‘strong interpersonal skills‘ – they want people who will work well in a team and are able to communicate effectively with colleagues, customers and clients.

Interpersonal Skills become so natural that we may take them for granted, never thinking about how we communicate with other people. With a little time and effort you can develop these skills. Good interpersonal skills can improve many aspects of your life – professionally and socially – they lead to better understanding and relationships.

Interpersonal skills are also sometimes referred to as: social skills, people skills, soft skills, communication skills or life skills. Although these terms can include interpersonal skills they tend to be broader and therefore may also refer other types of skills.

Intrapersonal Skills:

Though the terms intrapersonal and interpersonal are used interchangeably by people, there is a distinct difference between the two. Intrapersonal deals with the emotions, feelings, thoughts that are stirred upon within an individual which the person next to them might not even be aware of. This is quite different from interpersonal skills, which is immediately visible to an external audience. There does however, exist a very strong relationship between them; good intrapersonal skills will go a long way in producing good interpersonal relationships.

What constitutes intrapersonal relationship skills?

Intrapersonal skills as mentioned earlier are those values, personality traits that reside deep within an individual. It becomes so much a part of the individual that most of us are not even aware of their impact on our daily lives. The various intrapersonal facets that play a significant role in our personal and professional lives are such as:

• Self Esteem
• Self Confidence
• Assertiveness
• Dealing with
• Negative emotions

Interpersonal Skills:

I don’t care what your problems are, get this job done by the end of the day. ”

Wouldn’t this kind of a message make you feel that you were being treated as an object, rather than as a person with real feelings? By contrast, when you empathize with your listener, you show concern for his opinions and assure him that he is valued. Now look at the same message rephrased:

“1 hope it will not be too difficult for you to complete this job today.”

While the first message conveys indifference, the second message shows greater sensitivity to the feelings and thoughts of the listener.

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Psychometric Test:

Psychometric tests include personality profiles, reasoning tests, motivation questionnaires, and ability assessments. These tests try to provide objective data for otherwise subjective measurements.

What do psychometric test measure?

Psychometric test can measure interests, personality and aptitude.

• Interest tests measure how people differ in their motivation, values and opinions in relation to their interests.
• Personality tests measure how people differ in their style or manner of doing things, and in the way they interact with their environment and other people.
• Aptitude tests measure how people differ in their ability to perform or carry out different tasks.

Psychometric tests are commonly used as part of a recruitment process. Employers use them to gain insights into a candidate’s skills and personality which can be more objective, reliable and scientifically valid than an interview alone. Psychometric tests are becoming increasingly popular, particularly in large organizations, where senior management may be removed from he recruitment process but seeks to ensure certain benchmarks are met when recruiting new employees. There are two broad categories of psychometric tests: a) Personality & career tests and b) Aptitude & skills tests.

Personality & Career Tests

These will look at areas such as:

• Ways of thinking, feeling and acting in different situations;
• Interpersonal style, conflict style, leadership style;
• Patterns of coping with stress;
• Interests – how much do you like carrying out various types of activities at work;
• Motivations – the energy with which you approach your work and the different conditions which increase or decrease your motivation; and
• Work values- what factors make work worthwhile for you.

Aptitude & Skills Tests:

These are designed to test the specific skills of a candidate. They attempt to give an employer an objective indication of a candidate’s abilities in areas like:

• Verbal Reasoning – critical evaluation of written information and reading comprehension.
• Numerical Reasoning – logical interpretation of numerical and statistical information.
• Abstract, Mechanical or Spatial Reasoning – pattern recognition, logic and how quickly a candidate may be able to learn and master a new task.

Advantages of Psychometric Tests:

• Psychometric tests can help to make personnel and career related assessments more objective.

• These tests also save a great deal of time. They’re typically very easy to administer, and they can be given to a group of people easily.

• Psychometric tests are also easily scored, so results come back quickly and reliably.

• Many of these tests are completed using software programs, and some can even be completed online. This, again, provides a time advantage, and it can reduce costs significantly compared to other methods.

• People can take the tests from anywhere, and the results are accurately scored each time.

Using Psychometric Tests:

Selection of personal:

These tests can help recruiters and hiring managers determine candidates who best fit a position

Individual development and training:

Psychometric tests can help you determine how best to improve current skills and performance.

Team building and development:

The tests help people to understand themselves and others, and help them to build and maintain positive workplace relationships.

Career development and progression:

Psychometric tests can help you uncover values and interests that are fundamental to overall career satisfaction.

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Introduction:

Body language communicates much more than words.  Body language signals are called ‘leakages’ because you may try to tell something, but the truth will leak out visually. Body language is the Communication of personal feelings, emotions, attitudes, thoughts through body movements-gestures, postures,  facial expressions, walking styles, positions and distance – either consciously or involuntary, more often subconsciously, and accompanied or unaccompanied by the spoken language. For example, when two people meet for the first time, their initial reaction is to size up each other by observing appearance, attire, facial expression, hand shake and posture.

AVOID SUCH BODY LANGUAGE

The following body language should be avoided:

Relaxed Hands:

It sends non-verbal messages of a person’s confidence, acceptance, and well being.

Open Hands:

It is a sign of trust, and a show of interest in the opinion of the other person. It can also mean an invitation to the other to share his or her point of view.

Clenched Hands:

It sends a number of signals depending on the context and the mood. It might also signify extreme emphasis, vehement declaration and desperate resolve. It also indicates tension and frustration and even anger. People often try to cover up their feelings by displaying a happy, smiling face but are betrayed by their clenched fists.

Wringing Hands:

It denotes discomfort and tension.

Pointing Index Finger:

It accompanies a word of threatening or warning, when one tries to drive a point home. People often take offence.

Thumb Gestures:

Slipping hands into the pockets –the front or the back ones—and letting the thumbs stick out betrays a very dominant and aggressive attitude.

Thumbs Up:

It is a gesture of exuding power and superiority.

Cracking of Knuckles:

It is a signal of anxiety, nervousness, boredom, restlessness and an unresolved state of mind.

Crossed or Folded Arms:

It indicates a protective guard against anticipated attack. It is also a comfortable position and the gesture that stands for relaxation. It reflects a closed mind as well. It signifies defensiveness or negativity. It is observed that people use this gesture when they feel insecure or when they disagree with the speaker.

Partial Arm Cross:

To avoid the full crossed arm-gesture, people often end up using this gesture instead. It reflects lack of self-confidence.

Arms behind the Back:

This gesture is restored to by a person who is experiencing inner conflict. He must be trying to hold himself back from taking aggressive action. It is also a gesture of self-control.

Mouth Covering:

The person doing this might be

• Lying
• Unsure of what he is saying
• Trying to prevent himself from expressing his views which may be opposed to the speaker’s
• Whispering to keep something secret
• Trying to suppress a feeling
• Suffering from bad breath.

Putting Objects in Mouth:

It shows that the person is under great pressure. If one uses this while speaking it suggests that he is procrastinating. It indicates that he is not sure or delaying a decision.

Neck Scratching:

It shows that the person is suffering from some psychological discomfort at the given moment.

Rubbing Eyes:

This shows that a person is in doubt or trying to deceive. It is also used while lying.

Nose Rubbing:

It can be a sign of rejection, a gesture of doubt, when one is not sure about how to approach a subject or what the reaction of the audience might be.

Hand on Check:

It signifies that he is in the process of evaluation, or in deep reflection, attention and interest.

Chin Stroking:

This suggests a person is in deep reflection. It follows the flow of choices a person is deliberating upon regarding the proposition under consideration.

Hand on the Head:

It indicates despair, bereavement, prolonged thinking, and boredom. It can also indicate extreme interest when accompanied by proper eye gestures.

Slapping the Head:

It signifies forgetfulness, he is not intimidated ssby the other person having mentioned his forgetfulness. However, scratching the head with the hand is a gesture that expresses frustration or indicates that one is feeling flustered.

LOOKING AGGRESSIVE

The following kind of body language is aggressive:

• —Arms folded across the chest
• —Staring
• —Pointing
• —Making a fist
• —Leaning over someone

—BEHAVING RUDELY

Some of the rude behavior should avoid are follow:

• —Working when someone is talking to you
• —Puffing
• —Tolerating
• —Smirking
• —Whispering
• —Cracking knuckles
• —Grooming yourself’
• —Standing too close
• —Packing up folders and papers well before the meeting is over
• —Shaking hands too hard or limp handshakes
• Yawning when the meeting is in progress
• —Looking at your watch repeatedly
• —Blinking a lot
• —Fiddling with rings, watches, earrings and chains
• —Tapping or clicking pens
• —Playing with paper clips
• —Jingling money in pocket
• —Picking at fingernails
• —Twiddling bits of hair
• —Smoking

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Introduction:

Rate is a exchange value of a thing. It is a measure of a thing against other and it gives ratio between two related quantities.

Different Types of Rates:

• —Transaction Date or Trade Date is when the deal is struck.
• —When rate is quoted for the Settlement/ Delivery to be on the same day, it is called CASH
• —When rate is quoted for Settlement/Delivery to be the next day (T+1), it is called TOM
• —When settlement/delivery is on T+2 days, it is called SPOT

Forward Rates:

• —When delivery is to be beyond T+2, it is called a forward rate.
• —It is generally given for 1 month, 2 month, 3 month … upto 6 months.
• —The rate of exchange may not be the same after 1 month, 2 month, 3 month etc.
• —If the rate is higher, then the currency is at a premium, if it lower, currency is said to be at discount and if there is no variation, it is at par.
• —Forward rates are arrived at as follows:

—Spot + Premium = Fwd Rate

—                   Spot – Discount = Fwd Rate

• —In market quotes, premium or discount is also quoted two ways.

—USD 1 = Rs.61.65 – 61.80

1 m pre        0.60 – 0.65

2 m pre        0.80 – 0.85

3 m pre        1.10   – 1.15

• —If currency is at premium, the premium shown such as 0.60 – 0.65 will be in ascending order
• —If currency is at discount, the discount will be 0.35 – 0.30, that is, in descending order.
• —Add or deduct the two way forward quote to the Spot rate; you will get the forward rate.
• —The rule is Ascending Add, Descending Deduct.
• —Market quotations very often give the premium or discount as points.
• —USDINR  Bid Ask:     62.000  62.150

—1 month fwd  2782.000  9082.000

—3 month fwd  12636.000  19336.000

—6 month fwd    246.50    251.50

• —Here the fwd margins are given in points.
• —Divide them by 10000 and add to the spot rate.
• —1 month fwd will be 62.2782  63.0582

Conclusion:

Rate is an important term in everybody life. In current scenario each and every thing have some rate. Hence it has more value and also plays a very vital role.

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Credit:

• Credit means any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation.
• Complying presentation means a presentation that is in accordance with the terms and conditions of the credit, the applicable provisions of these rules and international standard banking practice.
• —Under an import letter of credit, importer’s bank guarantees to the supplier —that the bank will pay mentioned amount in the agreement, —once supplier or exporter meet the terms and conditions of the letter of credit.
• —LCs can be on DP or DA terms. DP LCs are also known as sight LCs.
• —The issuing Bank will part with the documents against payment or acceptance as per LC terms.

Types of credit:

• Revocable
• Irrevocable
• Revolving
• Clean
• Documentary
• Standby

Buyers Credit:

• —This is an alternative and popular means for import payment which combines features of finance also.
• —Buyer’s Credit refers to loans for payment of imports into India
• —arranged by the importer from a bank or financial institutions outside India.
• —Based on letter of undertaking of Importer’s bank, Overseas bank credits the nostro of the importer’s bank
• —which in turn uses the funds to make payment to the Suppliers bank against the import bill.

Credit involved in Imports:

• —Documents against Acceptance in Documentary Collection or under LC and also in Buyers Credit, the importer makes payment after availing certain credit period, say, 30, 60, 90 or 180 days.
• —The supplier or his Banker is out of funds during this period.
• —This involves payment of interest cost by the importer.
• —Interest is linked to LIBOR and the creditor will add his margin.
• —Typically it will be 3m/6m LIBOR + 350 bps.
• —If 3m LIBOR is 0.23560%, interest rate will be 3.73560%. Rates are annualised.
• —Importer has to reckon with this while computing his landed cost.

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Flexible manufacturing System:

FMS is a technology that provides some flexibility to allow the system to react in the case of changes. Its introduction has lead to increased productivity and improved quality. It is a form of flexible automation in which several machine tools are linked together by a material-handling system, and all aspects of the system are controlled by a central computer.This system can serve the purpose of process design in an effective and efficient manner.

Features of FMS:

• An FMS is distinguished from an automated production line by its ability to process more than one product style simultaneously.
• At any moment, each machine in the system may be processing a different part type.
• FMS can let us make changes in production schedule in order to meet the demands on different products.

Approaches to flexibility:

Flexibility means production of reasonably priced customized products of high quality with quick delivery. Different approaches to flexibility are follow:

• Manufacturing
• Operational
• Customer
• Strategic
• Capacity

Three levels of Manufacturing Flexibility:

Basic Flexibility:

There are three types of basic flexibility:

• Machine flexibility – the ease with which a machine can process various operations
• Material handling flexibility -a measure of the ease with which different part types can be transported and properly positioned at the various machine tools in a system
• Operation flexibility – a measure of the ease with which alternative operation sequences can be used for processing a part type

System flexibility:

• Volume flexibility-measure of system’s capability
• Expansion flexibility-ability to build system
• Routing flexibility-measure of alternative path
• Process flexibility-measure of volume of part type that system can produce
• Product flexibility-measure of part type which is manufactured with minor set-up

Aggregate flexibility:

• Program Flexibility-ability of system to run for long period
• Production Flexibility-volume of set of part types that system can produce without major investment in capital
• Market Flexibility-ability of system to adapt to change market condition.

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Exchange rate:

—The rate at which one currency is converted to another currency is called the Exchange Rate. When foreign currency is a constant and is expressed in terms of domestic currency as a variable, it is called a Direct Quote.

—E.g. USD 1 = Rs.61.75

—Indirect Quote is when it is given as Rs.100=USD 1.62

Two way Quotes:

—Banks give a two way quote as under:

—USD 1 = 61.65 – 61.80

—This means the Bank will buy USD from the customer at Rs.61.65 per dollar and sell to him at Rs.61.80 per dollar. This is called the Bid-Ask Rate. Bid means the market maker is prepared to pay so much money for buying the foreign currency. —Ask means he is prepared to sell foreign currency at the quoted rate

Cross Rates:

—If rates for one currency is not available against another currency, the rate between them is obtained by using an intermediary currency. The rate thus obtained is called a ‘CROSS RATE’. The principle applied for getting the cross rate is called the chain rule. —Let us assume that we do not have EUR/INR rate, but we have USD/INR rate and can obtain EUR/USD rate from New York market

—USD 1 = Rs.62.3300 – 62.3500 in Indian Market

—EUR 1 = USD 1.0904 – 1.0907 in New York Market

—EUR/INR rate would be:

—Buying Rate: EUR 1 = INR 1.0904*62.33 = 67.964632

—Selling Rate:  EUR 1 = INR 1.0907*62.35 = 68.005145

Merchant Rates:

—Purchase and Sale transactions are done with exporters, importers and other clean remittance customers on the basis of ‘MERCHANT RATES’. Every Bank gives out its own Merchant Rates for all freely convertible currencies. Rates follow the pattern as under

• —TT Buying
• TT Selling
• —Bill Buying
• Bill Selling
• —TC Buying
• —Currency Buying
• —Clean Cheque Purchase

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Introduction:

›Demand is dependent on many factors like market trend, competition, business environment. We cant predict exact demand. But using statistical tools, we can estimate demand, which can help us in production planning.

Objectives:

Long term objectives of demand forecasting are strategic planning, product planning, capacity and expansion planning, facility location and planning for research and development.

Medium term objectives are production and layout planning, aggregate planning, sales and marketing plans, annual, quarterly or half-yearly cash budgeting and working and operating plans.

Short term objectives are purchase planning, inventory plan, job scheduling, work force and employee planning.

Forecasting techniques:

• ›Delphi
• ›Nominal group technique
• ›opinion poll
• ›Moving average method
• ›Trend analysis
• ›Time series analysis

Delphi method:

The features are it is an attempt to develop forecasts through “group consensus”. The group size generally range from 7 to 10.

Nominal group technique:

›It is similar to Delphi, but here we ask experts to sit together and explain their perspective to others so that others can also give their opinion. ›People frame their estimates individually, but thereafter they give justification for their opinion.

Opinion poll:

›We collect information about the issue from people using opinion poll. ›We may take interview, we may collect data using questionnaire, or we may organize meeting / conference to find opinion of people. ›Variants of opinion poll are : focus group discussion which is used in marketing to know about consumer opinions.

Moving average method:

›Here we take moving average of either 3 days or 5 days or 7 days and try to forecast using this moving average. ›We may also use smoothing to remove exceptional fluctuations Moving average is a case where data can be used to forecast on the basis of past trend.

Trend Analysis:

›1. secular trend

› 2. cyclical fluctuation

seasonal fluctuation

random / irregular variations

Time series Analysis:

›In this method, we are using time as an independent variable and predict demand using this variable

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Predicting Behavior from Attitudes:

Important attitudes have a strong relationship to behaviour. The closer the match between attitude and behavior, the stronger the relationship:

• Specific attitudes predict specific behaviour
• General attitudes predict general behaviour

The more frequently expressed an attitude, the better predictor it is. High social pressures reduce the relationship and may cause dissonance. Attitudes based on personal experience are stronger predictors.

Major Job attitudes:

Job Satisfaction

A positive feeling about the job resulting from an evaluation of its characteristics.

Job Involvement

Degree of psychological identification with the job where perceived performance is important to self-worth.

Psychological Empowerment

Belief in the degree of influence over the job competence, job meaningfulness and autonomy.

Organizational Commitment

Identifying with a particular organization and its goals, while wishing to maintain membership in the organization. Three dimensions:

• Affective – emotional attachment to organization
• Continuance Commitment – economic value of staying
• Normative – moral or ethical obligations

Has some relation to performance, especially for new employees. Less important now than in the past – now perhaps more of an occupational commitment, loyalty to profession rather than a given employer.

Perceived Organizational Support (POS)

Degree to which employees believe the organization values their contribution and cares about their well-being. Higher when rewards are fair, employees are involved in decision making, and supervisors are seen as supportive. High POS is related to higher OCBs and performance.

Employee Engagement

The degree of involvement with, satisfaction with, and enthusiasm for the job. Engaged employees are passionate about their work and company.

Are These Job Attitudes Really Distinct?

• No, these job attitudes are not distinct and these attitudes are highly related.
• Variables may be redundant (measuring the same thing under a different name)
• While there is some distinction, there is also a lot of overlap.

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