Every year NITIEans take to the streets of Mumbai in a unique annual event called Mandi. The event is a brainchild of Dr. T. Prasad and was conceptualized to help every student understand and discover management wisdom for himself. Mandi stands as a hallmark in NITIE’s curriculum as it integrates the theoretical principles of statistics, managerial economics, marketing and basic market research with their practical application.
The central purpose of MANDI is threefold. Firstly to make a difference in the lives of thousands of children who lose out on basic education. Secondly students practice the classroom concepts of Marketing, Principles of Management, Business Economics, and Accounting in the real field.
Thirdly this unique event intends to impart an additional dimension to the learning of the students who buy these toys.The entire amount collected is donated to the NGO Navnirmiti which provides the event with toys (for sale) in the first place. Last year’s effort went towards the education of many children –slum dwellers, tribal children and the children in special schools.
The buyers are also requested to fill up a specially designed feedback form and the collected data is used by Dr. Prasad for preparing a market report for the gift industry. He feels that the power of Mandi could be further leveraged towards creating a positive impact on the management areas of Entrepreneurship, Self development etc. With a vision that is implemented annually, it comes as no surprise that the US based Association for Business Simulation and Experiential Learning (ABSEL) has accepted the research paper written on this theme.
NITIE is the only B-School in India which has adopted this unique method of teaching to enhance practical knowledge-gaining experience of the students. "Institute - Industry - Market" is an often quoted mantra of learning, here at NITIE.
With "Mandi", NITIE made a statement about its pedagogy - the first business school in India to adopt the experiential method of teaching. It integrates the theoretical principles of managerial economics, marketing and basic market research with practical application, for a socially responsible cause.