The Greenhorn Experimental Learning 25th August, 2014

 Date: 25^th August, 2014

No. of Participants: 50

Objective of the workshop: To understand the practical application of classroom lectures of Managerial Economics.

Description : Department of Management: HRM & IB organized an experiential learning worshop – “The Greenhorn” for the students of MBA- HRM, MBA-IB & MBA-RM Semester I.  

The activity was conducted in two phases:

Phase 1:“Sell Lemonade”

Time for the activity : 8:00 am to 1.00 am

Team: 5 – 7 Members in a team

Target Market: The IIS University Campus

Budget per team: ` 500 per team

Date: 25 August, 2014

Issues to be addressed during the activity:

1.      What is the price elasticity of demand for the soft drink industry? How do you think this relates to the price elasticity of demand for your product? Discuss how?

2.      How can use this information when determining the price for your product.

3.      Do you think engaging in price discrimination is a good pricing strategy given the market conditions you face? Why or why not?

4.      What factors are important while determining the location of your business?

5.      Describe the factors affecting demand of your product?

Phase 1:“Team Presentations”

Date: 1 October, 2014

The activity concluded with the team presentations.

Following Teams were declared the winners:

                      MBA-HRM Section A

1.      KhushbooKumari- Team Leader

2.      RupalGodha

3.      HarshitaGoyal

4.      AnupamParmar

5.      ShefaliBaweja

6.      Neetu Agrawal

7.      ChandniGarg

                      MBA-IB/RM  Section B

1.      Khushboo Agrawal – Team Leader

2.      Pooja Gupta

3.      Anchal Agrawal

4.      Anupama Sharma

5.      ChitraShekhawat

6.      KhushbooChoudhary

Outcome of the workshop: The students were able to learn the concepts of managerial economics and also gained a firsthand experience of working in a team.