“Bizz200” on April 26, 2018

Department                            –           MBA (AFMR)

Name of Event                       –           “Bizz200”

Date of Event                       –           Thursday, April 26, 2018

Objective of Event                 –         To test entrepreneurial skills of students

Dignitaries Present                –           Dr. Manish Mittal and other MBA Faculties

Coordinator (s)/Convener    –           Prof. Snehal Phatak (Coordinator Entrepreneurship Club)

Details of Participants           –           Management Students

 

Write up giving highlights
“Bizz200”was organized for the students of Management Department in the MBA lobby. This is an exercise, which has originated at Stanford University and has been adapted to work for Post-Graduate students. The students, in a team of four had to come up with an idea for putting up a kiosk. The maximum investment allowed was Rs.200. The maximum price per unit of product or service was restricted to Rs.20. The students were given free-hand in the choice of the product/service idea. They were allowed to do promotion for their idea using mobile phones as well as on their kiosk. The students came with very innovative ideas like Nail Art, Tattooing, Games, Hair Braiding and so on. Among the food stalls were Dahipuri, Katori Chaat, Bhel, Aamras, Laddoo, Chana Chat, Fruit Custard, Chocolates and so on.

12 teams had participated for the event, comprising of students from both first year and second year. Each team was given a statement of profit, wherein they had to account for the expenses incurred in putting up the stall. The selling of product was done centralized by providing the tokens at a desk managed by the student volunteers. It was a great learning experience for participants where the learned how to manage the Finances, Advertising and Promotion, Pricing of the product and Back end Operations as well. The student volunteers also enjoyed and learnt a lot after managing different areas. The non-participating students as well as the faculty members appreciated and enjoyed at various stalls. Overall, the event gave the students a holistic view of managing a business venture by using their entrepreneurial skills. The team having the maximum ROI, most creative name and best promotional efforts were awarded.

 

Prepared by: Prof. Snehal Phatak