Experimental Learning

In the soaring heat, everybody needs a refreshing drink or two. On 30th September 2019,the students of MBA were given an opportunity of learning through experience by participating inan activity called “Selling Lemonade”. For this activity, all the students of MBA first year were divided into groups and each group had to sell lemonade by following some guidelines.

This activity was designed in two phases with the objective of making students understand the practical application of classroom lectures of Economics, Accounting and Research. The first phasewas performed on 30th September in college hours i.e. from 8:00am to 12:00 noon in the college campus. A big challenge was to arrange all the input/raw material in the budget of Rs.500 only. All the students worked in advance with their particular groups and developed their plans and strategiesto take this activity further. The project manger and the location for the activity were decided well in advance.

On the day of the event, all groups arranged and decorated their stalls innovatively at the pre-decided location. There was lots of enthusiasm among the students. Each group had something unique in their lemonades. They made variations in the prices of lemonades to identify the price elasticity of demand. Each group also adopted different market strategies and methods to attract customers. At 12:00noon the activity was declared over and all the teams reported with their sales and cost sheet to Dr Mahima Rai.The first part of the event ended with a lot of learning in terms of planning, organizing, coordinating and working in teams.

The second phase of this activity will be followed next week when a presentation will be made by each group on practical application of classroom learning.