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Vending machines were a foreign concept few years back. We could only see them in Hollywood flicks or foreign channels or hear stories about these wonder machines from people visiting abroad. But with the globalization catching up at a fast pace and India turning into a developing nation from a below poverty line nation. The whole technological development scenario of the country is changing. The added contributory factor in technical development of our nation is the easy export and import policy. Moreover the literacy rate has also gone up. All these factors have contributed towards acknowledgment and acceptance of new products.

Vending machines are installed at very few places in India. We generally locate them on airports or a posh super market and at times at few corporate offices. However the trend is changing now and more and more business people and corporate houses find the necessity of installing a vending machine. The purchase of item will be easier. Less monitoring will be required. Things would be available conveniently and one does not have to queue for a bottle of water or coffee or munchies.

Vending business can prove to be a boon to Indian economy. But the product selection should be such that it suits the Indian scenario. They placement of the machines should also be taken care of. The more frequented places like railway stations, supermarkets like big bazaar, more etc, airports, bus stands and shopping malls should be targeted. The most important consideration would be the currency and the mode of buying. The products of the machine should vary according to the location. Like for example at places more visited by the common man, the products like water, snacks, tea, coffee, and news paper should be available and the cost should be low. Whereas in malls and other elite places the product range should be variable. There should be choice of items from food to jewellery to electronics item.

Vending machine is a very handy technological development and it is a must for our economy. We are trying to be at par with the international market and vending business is one more step towards progression of India.

Tags: Business, Hollywood Flicks, Vending, Vending Business, Vending Machine, Vending Machines, Wonder Machines

If you’re new here, and interested in the latest news and insights on news from India and world, you may want to subscribe to our RSS feed. Thanks for visiting I News India.

Vending machines are machines used for buying snacks, beverages, newspapers, water, candy’s etc by inserting money or a token. These machines do not need a cashier to monitor the transaction.

Vending machines cam into use after industrial revolution. These machines were initially used for selling cigarettes but this trend has faded away because of heath awareness. The functionality gradually developed and they started being used for selling other products. But the surprising fact is that the first vending machine was actually invented in the 1st century.

Vending business is a very profitable business and the person owning the machine is bound to get an estimated 100% to 200% profit within a year. There are certain features of vending machine, like the machine accepts certain amount of cash, the product is counted etc. which make the transaction easier. The owners of the vending machine do not need to worry about the change. Each vending machine has its own fixed amount which is dependent on the product to be sold. The vendor needs to spend 20 to 30 hrs in a week and the remunerations for it are good.  This leaves enough time for him to work somewhere else as a part timer. However for the business to do well it is very essential to sell the products which are much in consumer demand. Secondly the location of vending machine is very important. The most profitable and sought after locations are airports, railway stations, super markets, shopping malls; café’s and other such locations which are frequently visited by people. They are very common in offices and schools too.

Vending business has expanded tremendously and there are user friendly technologies too getting introduced to popularize these machines. Nowadays coins and specified bills are not mandatory. Credit and debit cards too can be used to buy an item. With the popularity of the machines the product range has also expanded and it is essential to do so as these may draw the customer more and more and help expand one’s business.

Tags: Airports, Business, buying beverages, buying candy, buying newspapers, buying snacks, buying water, friendly technologies, heath awareness, Industrial Revolution, Machine, Machines, railway stations, remunerations, selling cigarettes, shopping malls; café’s, Shops without shopkeepers, super markets, Vending Business, Vending Machine, Vending Machines

Employees are the backbone of any company/organization. Keeping them contended is the key to success for the organization. If the employees are happy and satisfied with their position in the office, they will do their best for the profit of the concerned organization. Here are a few tips which can help you understand their satisfaction level and requirements to make them happy and get the best out of them for your business:

Try to be logical: You demand work from your employees but take care not to ask them for truly impossible. Don’t insist them to work in late hours daily and all weekend for something which is not urgently required. Don’t shout and force them to work in such a tiring and uncomfortable situation.

Keep your words: If you say something then let it happen whether it’s regarding bonus of employees, giving feedback on a project, liaising with another department. Do what you say you’re going to do, in whatever timeline you committed to. If you are responsible, then your employees will take your words seriously otherwise they will also be lazy.

Respect your employees: Your employees should be respected and their work should be valued. Do not underestimate and discourage them. You should act in such a way that your employee feels respected.

Care your staff: Companies must care about their people. If they don’t feel that the company cares about them, then why should they care about the company?

Ask a feedback: Seek a feedback from the employees about how the staffer thinks last week’s event went to what you could be doing to make her/his job easier. This will reflect their need and requirement. Value their feedback. Do not ignore them. Share their views with them.

Focus on results: Make sure that all the employees including you are focused on the central target of success of the company. Rules and regulation made should be logical and should be concerned to the success and goals of the organization. Do not try to make rules or policies to entertain your personal goals.

Talk to your employees: Have a talk to the employees to know their requirements in the job. Sort out their problems. Figure out their needs which can range from training and better equipment to the elimination of a counterproductive policy.

Face difficult situation and take solid decisions: In case the company get stuck in any conflict, do not avoid that situation. Have tough conversations, make decisions that may be unpopular, and enforce standards and consequences. Good employees will get frustrated and dislikes a manager’s passivity and avoidance of conflict. Just face it!

Speak honestly: Tell the employees about their performance honestly. Tell them the areas where they need more hard work and appreciate where they are doing pretty well. This will encourage them for further improvement and will energize them in a right direction.

Keep Probing: Be vigilant about the happenings in your surroundings and ask questions like:
Are your employees satisfied?
What are their needs at workplace?
How’s their workload?
What part of their job are they struggling with?
What improvement is needed at work?
What are the obstacles that are making their jobs more difficult?
What are their goals for their job and their longer-term future?
How should you help them?

You need to speak with them openly on certain issues. So don’t avoid these things and keep your employees happy and go ahead!

Tags: Business, Employee, organization, staff, success

The Finance Minister P.Chidambaram said that an 8-9 % economic growth will be fine for this fiscal year and that further export bans could be considered as a way to drive down inflationary expectations.

He said that to get a specific forecast for the year ending on March 31, 2009 is hard but we must aim at 9 per cent.

He said, “we must be happy if it’s between 8 per cent and 9 per cent.”

Chidambaram said that inflation is the biggest problem in Asia today. Increasing price of foodstuffs and other commodities is a matter of concern of developing countries.

He said, “Inflationary expectation is driving prices.”

The wholesale price index, which reached a 41-month highest of 7.81 in the week ended on March 29 get lowered to 7.14 per cent in the week ended on April 5. The central bank had aimed for close to 5 per cent at the end of the 2007/08 fiscal year and its medium-term goal is around 3 per cent.

Inflation was also being stoked by a mismatch between supply and demand, and by cartel-like behaviour in some sectors of the economy, said Chidambaram.

India has banned the export of some rice and Chidambaram said he would consider banning exports of other goods, even if that went against the principles of free trade.

“As a short term measure … we will consider such bans, too,” he said, mentioning the possibility of export bans in the steel sector.

Tags: Ban, Business, Chidambaram, Export, Finance, PC

“India would give preferential market access to 34 African countries, which were among the least developed nations in the world” announced Prime Minister Manmohan Singh while addressing the First India-Africa Forum Summit in the Capital.

Leaders of 14 African countries including 10 heads of state and government were present in the two-day summit which seeks to forge a more contemporary partnership in key areas of trade and energy. The summit was expected to help the two sides establish a ‘dynamic partnership’.

Singh described Africa as the “land of awakening” and called for turning the 21st century into a “century of Asia and Africa.” He said that the bond between the countries should not be limited to government sectors only but should spread to all possible fields in India and Africa leading to a fruitful partnership of two billion people of the countries.

Singh said, “India’s commitment for overall development and progress was steadfast as it was keen to see Africa find its rightful place in the world.”

The foreign ministers of India and Africa, who met on Monday have finalised a draft declaration that will be announced by the leaders at the end of the Summit on Wednesday.

The declaration has tried to identify areas of potential growth where the two sides could work closely for their mutual benefit.(IANS)

The two nations are also interested to work on other important global issues like the proposed reform to the United Nations, fight against terrorism and global warming.

Tags: Africa, Business, India, Market

India is ready to change the shape of Business world in coming 10 years along with China, Brazil and Russia. A study revealed that India will play an effective role in worldwide business by 2018.

A study by Chartered Management Institute of London includes business situations and prospects till 2018. It gives the view of work situation then and picture of management and how the organizations are ready to face that. According to study, countries like China, Brazil, Russia and India will put a heavy effect on the business. These countries will change the business sketch of the world. New business models are presented in response to these changes but there is a need of new talent likes to create an understanding of foreign culture and variety.

It is said that developing countries are growing economically hence migrants are willing to come back to their countries from west. This will lead to lack of man power in western countries. Study also said that Business structure and model will be changed n coming 10 years. Business based on group will replace global corporate. There will be a need of Technology blending with resources to hold success. Organizations will need to have more knowledge about global market. Many incidents which seem different of others can create some links to effect business.

Study also revealed that social protest among minority groups in China and India declines economy and violence in Iran, Pakistan etc. leads to move the business downward critically.

All the developing countries including India are successful in concealing loss in global economy and same is expected in future. A global firm Alliance Dresdner Economic Research linked with Germany’s Financial Services Information revealed this fact. According to the report, economical activities are sharp in India but there is no view of loss in America also. Russian economy has shown an increase by 8 per cent during 2007.

Export is decreased from America by these countries but there was export fro Europe and Euro become stronger than dollar. Overall there is no significant effect on export. There is an increase in prices of various commodities but developing countries have exporters of these commodities and they got profit also. Import is increasing compared to export and these countries have no problem because oh having sufficient foreign money and enough funds.

Tags: Brazil, Business, China, India, London, Russia, UK, US, World

India’s Bureau of Indian Standard (BIS) has announced on March 21, Friday to adopt OOXML as the standard data format for storing office document in India.

BIS finally made 13-1-5 (13-No, 1 Absent, 5-Yes) decision on adopting OOXML.

Different responses and views are obtained by various business and IT leaders.Microsoft and Indian software giants like Infosys, TCS and Wipro are the one that say ‘yes’ to OOXML.

Microsoft stated, “While we are disappointed with the decision of the BIS Ltd 15 committee, we are very encouraged by the support of the IT industry players like NASSCOM, TCS, Wipro and Infosys, who voted in favour of Open XML becoming an ISO standard.”

Compromising business is probably the most dangerous entity to choose when it comes to setting up the next best direction and the ‘right’ future for its people

Sitting in the forum, they would think they are making decision for their ‘survival’, while instead; they are being entrusted to make decision for the future of their people — and for world society as a whole

But when it comes to make key decision that affect people and world society as a whole, Wipro and Infosys may become a very sorry example of a business chicken out though the companies are big in terms of operation and turnover.

But opposite to these are unusual companies which take care of being what is right and good for people and society. These companies are real innovators. Some of them are Akio Morita’s Sony, Steve Job’s Apple, Anita Roddick’s Body Shop, Richard Branson’s Virgin Group, Shultz Starbuck and Google.

These companies and business groups can be trusted which can contribute to society. They have the prospect to change the world for better.

Their decisive act become ‘brave heart act’ that are proudly ‘whispered’ from time to time, across generations. It inspires successive generations (of future ‘business leaders’, ‘business builders’ and ‘business doers’) to come, listen, and get inspired by the purpose and ‘brave’ act of the past, and eventually decide: “I will also do (and build) business to contribute to the betterment of the people, and the society as a whole.”

Tags: Business, India, Infosys, NASSCOM, OOXML, TCS, Wipro, XML

The world’s smallest diamond ring of 300 nm thickness and 5 microns diameter has been created by the Australian experts of Melbourne University.

The scientists claimed that the tiny ring is been carved out from an artificially made diamond.

The development of the tiny diamond ring was announced at the March meeting of the American Physical Society in New Orleans.

The smallest diamond ring can be helpful in quantum information processing for the scientists. The ring can be used as a component of a device used to produce and detect single photons (particles of light) which can carry information.

Digital computer stores information in binary form, either “1” or “0”. Similarly light can have two possible states- “on” or “off”. The possible orders of the pattern suggest certain information.

The researchers say that the fact that photons can hold a value of 1 and 0 at the same time suggests that they may expand the possibility of information storage, reports Live Science.

Tags: Business, Diamond, Smallest Diamond

Crossing all the earlier records, gold is shining at around Rs. 13000 per 10 grams. Indians are known for their love to gold and the rise in price will definitely make the metal out of reach of the common men. It was only in the last six months the metal has shown a steep increase of 68 percent in the price. In September 2007 it was Rs 8920 per 10 g. So far this year the metal has shown a 17 per cent increase in price.

Gold prices soared to a record high $1,007.40 per ounce on Friday as the dollar slumped to record lows versus the euro.

South Africa is the world’s largest producer while India is the biggest importer of this metal. 72 per cent of gold is mined from South Africa while India is producing even less than three per cent. More than 900 tones of gold is consumed last year but still the per capita consumption of gold is 0.7 grams only which is half of USA and one-third of Middle East countries.

Gold has been on an upward trend since the start of January when the yellow metal jumped above $850 per ounce, smashing a 28-year-old record. Global demand for gold is also surging owing to increased jewellery purchases in China and India On the London Bullion Market, gold stood at $1,003.50 per ounce at Friday’s late fixing, up from $972.50 a week earlier. Silver jumped to $21.07 per ounce from $20.22.

Uncertainties over in the financial market are leading historic heights in gold prices. It is said that the hike in price will continue till the uncertainties are prevailing in the financial market.

Gold is said to be a safe investment. Investment can be made in physical form or Gold Exchange Traded Fund (ETF). In India itself, gold has return of more than 34 per cent last year. But if counted an average for the last 20 years, gold has return 7 per cent return whereas average return on equity is touching near to 20 per cent. Sudden increase in prices gives hopes to investors that it will outperform the return on equity.

Gold has reached a record level of $1009 per ounce in the international market. India is the biggest consumer of gold, and here also, gold has reached at pick level of more than Rs 13,000 per ten grams. Being the marriage season round the corner, hike in the price giving stress marks on the forehead of the people. It will be limited to wealthy couples to possess heavy ornaments.

Tags: Business, Gold, High Price

Several North Indians left Pune back to their homes after ongoing campaign against them. Approximately 25000 north Indian workers have gone back to their homes. This situation is caused by the campaign started by Maharashtra Navnirmaan Seva (MNS) against so-called outsiders in Mumbai, Maharashtra.

Production business is greatly affected due to departure of workers in such a huge number. North Indians are still frightened and many people are catching buses and trains going to north India. These workers are mostly from Uttar Pradesh and Bihar. Government is also concerned due to continued return of workers.

A meeting was held by District Rescue Minister Ajeet Panwar and Collector Prabhakar Deshmukh with the leaders of the inhabitants and they tried to assure them. In the meantime, local Congress MP Suresh Kalmari tried to calm down the scared north Indians.

Tags: Bihar, Business, India, Maharashtra, Politics, Uttar Pradesh