Sunday, 23 February 2014

How to get a job at Google


Last June, in an interview with Adam Bryant of The New York Times, Laszlo Bock, the senior vice president of people operations for Google - ie, the guy in charge of hiring for one of the world’s most successful companies - noted that Google had determined that academic results weren’t very important.

‘‘[Grade point averages] are worthless as a criteria for hiring, and test scores are worthless ...We found that they don’t predict anything.’’ He also noted that the ‘‘proportion of people without any college education at Google has increased over time’’ - now as high as 14 per cent on some teams. At a time when many people are asking, ‘‘How’s my kid gonna get a job?’’ I thought it would be useful to visit Google and hear how Bock would answer.Software engineers at the Google office in Kirkland, Washington.

Don’t get him wrong, Bock begins, ‘‘Good grades certainly don’t hurt.’’ Many jobs at Google require maths, computing and coding skills, so if your good grades truly reflect skills in those areas that you can apply, it would be an advantage. But Google has its eyes on much more.

‘‘There are five hiring attributes we have across the company,’’ explained Bock. ‘‘If it’s a technical role, we assess your coding ability, and half the roles in the company are technical roles. For every job, though, the No. 1 thing we look for is general cognitive ability, and it’s not IQ. It’s learning ability. It’s the ability to process on the fly. It’s the ability to pull together disparate bits of information. We assess that using structured behavioural interviews that we validate to make sure they’re predictive.’’
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The second, he added, ‘‘is leadership - in particular emergent leadership as opposed to traditional leadership. Traditional leadership is, were you president of the chess club? Were you vice president of sales? How quickly did you get there? We don’t care. What we care about is, when faced with a problem and you’re a member of a team, do you, at the appropriate time, step in and lead. And just as critically, do you step back and stop leading, do you let someone else?

Because what’s critical to be an effective leader in this environment is you have to be willing to relinquish power.’’
The climbing wall at the Google campus in Kirkland.
What else? Humility and ownership.

‘‘It’s feeling the sense of responsibility, the sense of ownership, to step in,’’ he said, to try to solve any problem - and the humility to step back and embrace the better ideas of others. ‘‘Your end goal,’’ explained Bock, ‘‘is what can we do together to problem solve. I’ve contributed my piece, and then I step back.’’

And it is not just humility in creating space for others to contribute, says Bock, it’s ‘‘intellectual humility. Without humility, you are unable to learn''. It is why research shows that many graduates from hotshot business schools plateau. ‘‘Successful bright people rarely experience failure, and so they don’t learn how to learn from that failure,’’ Bock said.

‘‘They, instead, commit the fundamental attribution error, which is if something good happens, it’s because I’m a genius. If something bad happens, it’s because someone’s an idiot or I didn’t get the resources or the market moved ... What we’ve seen is that the people who are the most successful here, who we want to hire, will have a fierce position. They’ll argue like hell. They’ll be zealots about their point of view. But then you say, ’here’s a new fact,’ and they’ll go, ’Oh, well, that changes things; you’re right.’’’ You need a big ego and small ego in the same person at the same time.

The least important attribute they look for is ‘‘expertise’’. Said Bock: ‘‘If you take somebody who has high cognitive ability, is innately curious, willing to learn and has emergent leadership skills, and you hire them as an HR person or finance person, and they have no content knowledge, and you compare them with someone who’s been doing just one thing and is a world expert, the expert will go: ’I’ve seen this 100 times before; here’s what you do.’’’ Most of the time the nonexpert will come up with the same answer, added Bock, ‘‘because most of the time it’s not that hard’’. Sure, once in a while they will mess it up, he said, but once in a while they’ll also come up with an answer that is totally new. And there is huge value in that.

To sum up Bock’s approach to hiring: Talent can come in so many different forms and be built in so many non-traditional ways today, hiring officers have to be alive to every one - besides brand-name universities. Because ‘‘when you look at people who don’t go to school and make their way in the world, those are exceptional human beings. And we should do everything we can to find those people.’’ Too many universities, he added, ‘‘don’t deliver on what they promise. You generate a tonne of debt, you don’t learn the most useful things for your life. It’s [just] an extended adolescence.’’

Google attracts so much talent it can afford to look beyond traditional metrics, like GPA. For most young people, though, going to university and doing well is still the best way to master the tools needed for many careers. But Bock is saying something important to them, too: Beware. Your degree is not a proxy for your ability to do any job. The world only cares about - and pays off on - what you can do with what you know (and it doesn’t care how you learned it). And in an age when innovation is increasingly a group endeavour, it also cares about a lot of soft skills - leadership, humility, collaboration, adaptability and loving to learn and re-learn. This will be true no matter where you go to work.



From theage News

Nexus 8 running on Google’s new Android 4.5 coming in July: Report

With the Google I/O officially slated to begin on 25 June, rumours about what Google could possibly announce – or in this case “not announce” – have already started emerging. A person familiar with the matter has informed Androidgeeks that the company will not announce the next iteration of its Android OS at the event.
Nexus 8 running on Google’s new Android 4.5 coming in July: Report

An employee from Google Dublin told the news site that the Search giant plans to launch Android 4.5 along with a new Nexus 8 tablet in July. So, what does it plan for the I/O event? reportedly some new services that it plans to disclose there.

As speculated earlier, the report also mentions that Google may discontinue the 7-inch Nexus tablet. This is reportedly owing to the fierce competition in the 7-incher segment. Therefore the company has decided that it would rather move into the 8-inch segment which doesn’t have too many players. It may also launch its latest mobile OS iteration first on the tablet to attract more users.

This isn’t the first time we are hearing about the tablet, as rumours about an 8-inch tablet have been making rounds since late last year. In November, an 8-inch or thereabouts tablet was spotted on the revamped website, which has since been replaced with an image of the 2013 Nexus 7. The tablet seen in the original image had much thinner bezels than the current Nexus 7. As a result, the screen size looked noticeably larger.

Other rumours include the fact that it could be manufactured by HTC and that Google may ditch the Qualcomm Snapdragon SoC for an Intel chipset.

A report on the Android origin website lends further credence to the rumours, with speculation that a host of online ‘deals’ for the Nexus 7 indicating that the company wants to get rid of its inventory ahead of the debut of the new 8 inch tablet.

In the 8-inch tablet segment, Google’s Nexus would potentially compete with the Galaxy Note 8.0, LG G Pad 8.3 and also the reigning iOS 7 based iPad mini.


From T2 News

Thursday, 20 February 2014

The path shown by guru is more important then the worship of god

सद्‌गुरु का आचरण अनुकरणीय है। सद्‌गुरु के बताए मार्ग पर चलकर मनुष्य संसार की बुराइयों और अहंकार से मुक्ति पा सकता है। गुरु पद संसार का सर्वोच्च पद है।

गुरु की सेवा का फल भगवान की सेवा से बड़ा होता है। भगवान रूठ जाए तो गुरु मार्ग दिखाते हैं, लेकिन अगर गुरु रूठ जाए तो उस मनुष्य के लिए भव सागर से तरना मुश्किल है।

यह बात कथावाचक पं. रमाकांत व्यास ने सोमवार को कही। वे रावतपुरा सरकार के सान्निध्य में पुष्प विहार कॉलोनी, महालक्ष्मी नगर में सैकड़ों की संख्या में मौजूद भक्तों को संबोधित कर रहे थे।

उन्होंने सच्चे संत की महत्ता बताते हुए कहा कि जिसका जीवन गतिशील, मन स्थिर, सेवा का भाव और जो धर्म का मार्ग दिखाए वह सच्चा संत है।

जिस परमात्मा ने हमें मनुष्य जीवन दिया, उसके लिए कुछ समय जरूर निकालना चाहिए। ईश्वर की साधना से जीवन में शांति और मोक्ष की प्राप्ति होती है।

SRS tumbles after Wilmar deal

Shree Renuka Sugars fell 5.11% to Rs 21.35 at 9:45 IST on BSE after the company said that Singapore-based agri-business firm Wilmar International will invest approximately $200 million in the company.

The announcement was made after market hours on Thursday, 20 February 2014.

Meanwhile, the BSE Sensex was up 151.84 points, or 0.74%, to 20,688.48.

On BSE, so far 51.60 lakh shares were traded in the counter, compared with an average volume of 10.56 lakh shares in the past one quarter.

The stock hit a high of Rs 21.50 and a low of Rs 20.25 so far during the day. The stock hit a 52-week high of Rs 28.60 on 21 February 2013. The stock hit a 52-week low of Rs 14.50 on 28 August 2013.

The stock had outperformed the market over the past one month till 20 February 2014, rising 7.66% compared with the Sensex's 3.15% fall. The scrip had outperformed the market in past one quarter, rising 5.14% as against Sensex's 0.48% decline.

The small-cap company has an equity capital of Rs 67.13 crore. Face value per share is Re 1.

Shree Renuka Sugars (SRS) said that it has entered into an agreement with Wilmar International (Wilmar), through its 100% subsidiary Wilmar Sugar Holdings (WSH), to facilitate the investment of approximately $200 million in primary capital into SRS.

SRS said that this investment into the company would be done in two steps. The first step would involve an investment of upto Rs 517 crore by WSH in SRS through a preferential allotment of upto 25.75 crore shares of fresh equity to WSH at a price of Rs 20.08 per share. After this preferential issue, the existing promoters and WSH would hold 27.5% of SRS' expanded equity share capital.

As per Sebi guidelines, there will also be an open offer by WSH and the existing promoters for up to 26% of the expanded equity share capital of the SRS at a price of Rs 21.89 per share. The second step would involve Wilmar and the existing promoters of SRS jointly participating in a rights issue to raise upto a further Rs 725.40 crore of primary equity capital for SRS, the company said in a statement. As on 31 December 2013, promoters held 38.35% in SRS.

Under a joint venture (JV) agreement signed between the existing promoters, WSH and the company, SRS would be jointly controlled by the existing promoters and Wilmar, with both parties holding equal shareholding and board representation in SRS. The existing promoters will continue with the management of the company with Wilmar being actively involved in strategic decisions. The investment is subject to approval of shareholders of SRS, anti-trust clearances in India and Brazil and such other statutory clearances as may be deemed necessary, SRS said in a statement.

SRS said that the proceeds of this investment/fund-raising would be used to pay down existing debt of SRS in India. As a strategic shareholder, WSH's shareholding in SRS and the capital infusion will strengthen the company's financial and business position and also provide a further platform for growth, it added. Wilmar's global reach and strong presence in key sugar producing countries is complementary to Shree Renuka's business, the company said in a statement.

Narendra Murkumbi, Vice-Chairman and Managing Director of SRS said, "This is a path-breaking move in the sugar business which would create a very strong partnership in some of the key global markets for sugar. Wilmar's leadership position in the edible oil business globally and its strong reach in several countries across the world would be synergistic with our large footprint in India and Brazil, the two largest sugar producers in the world. Wilmar's trading expertise, strong financial strength and history of entrepreneurial growth makes it an ideal partner."

Kuok Khoon Hong, Chairman and CEO of Wilmar said, "We are very pleased to be partnering with Mrs. Vidya Murkumbi and Mr. Narendra Murkumbi. India is a very important market for Wilmar. Besides the benefit for our sugar business, this venture will complement the development of our edible oils and other businesses in India."

Jean-Luc Bohbot, Managing Director of Wilmar Sugar and Group Sugar Head at Wilmar said, "Shree Renuka Sugar, with their two well-located refineries, large storage capacity and competitive milling operations in India, good mills and logistics assets in Brazil, fits perfectly with Wilmar Sugar's existing global footprint and provides us with a unique opportunity to participate in the Indian sugar industry. Their unique expertise will be of great value to our partnership."

Wilmar International, founded in 1991 and headquartered in Singapore, is today Asia's leading agri-business group. Wilmar is ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange and has a market capitalization of about $17 billion and revenues of $44.1 billion, with profit of $1.3 billion in FY 2013. Wilmar's business activities include oil palm cultivation, oilseeds crushing, edible oils refining, sugar milling and refining, specialty fats, oleochemicals, biodiesel and fertilisers manufacturing and grains processing.

Shree Renuka Sugars reported net loss of Rs 193.90 crore in Q3 December 2013 as against net profit of Rs 17.50 crore in Q3 December 2012. Net sales declined 35.50% to Rs 1191.10 crore in Q3 December 2013 over Q3 December 2012.

SRS is a global sugar producer/refiner with a strategic portfolio of sugar assets across India, including port-based refining assets, sugar mills in productive cane growing regions and diversified revenue streams from ethanol and electricity co-generation. Additionally in Brazil, SRS has well located and best-in-class sugar, ethanol, cogeneration, port and logistics assets. The company operates eleven mills globally with a total crushing capacity of 20.7 million tonnes per annum and two port-based sugar refineries with sugar production capacity of 1.7 million tons per year. Shree Renuka Sugars has high level of integration in its mills with total cogeneration capacity of 584 MW and ethanol production capacity of 4,160 kilolitres per day.

Source: News in Hindi

From BS News

Capital allocation for lenders in budget is credit negative - Moody's

India's allocation of 112 billion rupees for capital injection into state-run banks is credit negative as it is much smaller than estimated requirements, Moody's Investors Service said.

The rating agency, in a report dated Thursday, said it estimates lenders would need 250-360 billion rupees to meet a minimum Tier 1 ratio of 8 percent in the fiscal year ending March 2015.

"Indian public-sector banks' need for significant external capital is a result of an increase in non-performing loans (NPLs) owing to the country's slowing economy and infrastructure bottlenecks, and profitability that is insufficient for internal capital generation to fund loan growth," it said.

Last Monday, the government unveiled its interim budget for the fiscal year starting in April, allocating 112 billion rupees for capital injection into public-sector banks.


From reuters News

BSE Sensex gains, banks rebound; Shree Renuka falls

The BSE Sensex and Nifty rise nearly 1 percent, heading for their fifth gain in the last six sessions.

Banks lead the gains, recovering from falls on Thursday sparked by weaker global shares. State Bank of India gains 1.5 percent on value buying after the stock fell more than 2 percent in the previous session. ICICI Bank (ICBK.NS) gains 2 percent.

A survey showing brisk U.S. manufacturing activity gave Asian stock markets a lift on Friday and bolstered the dollar.

But Shree Renuka Sugars (SRES.NS) slumped 6 percent on fears of equity dilution after Singapore's Wilmar International (WLIL.SI) said on Thursday it agreed to invest up to $145 million for a major stake in the company.

Overseas investors bought Indian shares worth 2.06 billion rupees on Wednesday, extending their buying streak to a seventh consecutive session, provisional exchange data shows.


From reuters News

Boost for Raghuram Rajan: RBI should hike rates more to tame inflation, says IMF

The International Monetary Fund on Thursday has recommended India to go for interest rate hikes. It has also revised its previous forecast upwards to a 4.6 per cent GDP growth in FY14, which would improve to 5.4 per cent in FY15.

The annual Article IV consultation report that is issued by the IMF for each of its member country says, “High and persistent inflation is a key macroeconomic challenge facing India. Further increases in the policy rate will be necessary to tackle high inflation and its expectations.”

The report comes just ahead of the spring meeting of IMF. It says that India has been able to shore up its growth and revive investor sentiments since July last year. No further policy changes are assumed in the baseline, but slightly stronger global growth, improving export competitiveness, a favorable monsoon, and a confidence boost from recent policy actions should deliver a modest growth rebound in the near term, the report adds.

While the new growth estimate is higher than the IMF’s previous forecast of 3.75 per cent in the current fiscal and 5.1 per cent in the next fiscal, India is more optimistic about economic recovery. The Interim Budget 2014-15 has estimated the economy to grow at 4.9 per cent this fiscal and at least 6 per cent in FY15.

The IMF’s report, which is based on discussions with finance ministry and the Reserve Bank of India officials in November last year, however, warned that fiscal restrained and high interest rates could slow down growth.

“India’s trend growth is currently estimated at around 5.5 percent but is expected to rise to its medium-term growth potential of around 6.75 per cent (under current policies) as unblocked investments are implemented and global growth improves,” it said.

The IMF has also warned of double digit retail inflation while wholesale price index based inflation will remain above the RBI’s comfort zone.

The agency has called for structural reforms to reduce supply bottlenecks, bolster employment growth, improve medium-term growth and reduce poverty.

Source: Hindi News

From financialexpress News