Business Ideas, Business Management And Sharetrading Galore- Version 2.0 Of 'Concepto.Exe' In IMT Ghaziabad Is Bigger And Better!

Online, August 23, 2012 (Newswire.com) - IMT Ghaziabad means business - not just figuratively, but in practice as well.

Close on the heels of the all-new Foundation Programme, the 2012-14 batch of IMT Ghaziabad was introduced to the 'fun while you learn' side of IMT Ghaziabad. The new and improved version 2.0 of 'Concepto.exe', organised by the Entrepreneurship Cell of IMT-Ghaziabad between the 6th and 9th of August, celebrated the spirit of innovation and business among the new lot. In keeping with tradition, a team each from the seven 1st year sections, and one each from the executive batch and Vishit Ventures - a campus organisation - were given the opportunity to run a business on the IMT Ghaziabad campus for four days.

And what a display it was! If Concepto 2012 is taken for a standard, then the newcomers of the 2012-14 batch are brimful of the entrepreneurial spirit! Business ideas ranged from the technology driven - like the online shopping service catering to IMT hostels, or the internet radio station for IMT Ghaziabad; to manpower intensive - like the room cleaning service, or the car-cum-mobike cleaning service; to creative - like the professional photography stall, or the gaming and T-shirt designing stall. In fact, a bunch of youngsters even endeavoured to improve the style quotient of IMT Ghaziabad through 'Style-Q' - a service offering hair and beauty treatments on-campus!

To their credit, the young guns of IMT Ghaziabad displayed sharp managerial acumen and know-how over the four days. Since the services and products were so diverse, it may be hard to envisage a competitive scenario. But when spending power is limited and the consumer is stingy - like your typical IMT Ghaziabad student - the portals of even an otherwise peaceful educational institution like IMT Ghaziabad turn into a real world 'business battlefield'!

Yet again, the goal of fostering entrepreneurship at various levels was effortlessly achieved by the'E-Cell' of IMT Ghaziabad through this annual event. Being the first major event of the academic year - after the Foundation programme, of course, this serves as an ice-breaker and also helps in encouraging unity within sections. The rules of this event are simple. Each team can have up to ten promoters, who contribute Rs. 100 each, while others in the section can contribute Rs. 50 to become stakeholders. The money raised thus is used to fund the business that a section runs for four days. The revenues generated are for the section to keep, and teams are judged on the viability of their business plan, marketing, profits, sustainability, etc.

Businesses run under 'Concepto.exe' cover the entire spectrum of business management. Efforts have to be put in by the youngsters towards fund-raising, promotion, advertising and handling the finance. Many students had their first taste of handling customers , seeking feedback from them, and constantly improving their strategy and service or product over the course of the four days.

What turned the usual 'Concepto.exe' into 'Concepto.exe 2.0' was that this year the E-Cell of IMT Ghaziabad introduced share trading within the event. In order to give the option of business expansion through capital infusion as well as to create more interest, the teams were allowed to float a hundred shares each day. These shares could be bought by anyone on campus, and sold later during Concepto. The E-Cell went into great detail to ensure that this new concept worked smoothly. It even acted as an 'Exchange' for this trade, allowing all trading to be done through their 'trading desk'. The share prices changed depending on various parameters like demand, revenue generated, etc. All transactions had to be properly verified and bills and accounts were to be maintained. This too was verified by the E-Cell at the end of each day.

The winners for this year were decided by Professor Mrinalini Shah, Professor Jayanthi Ranjan and Ms. Kalpana Sinha from the National Entrepreneurship Network (NEN), who judged the final presentation round for 'Concepto.exe 2.0'. The first place was bagged by 'Shopeaze' - the online shopping website from section C, while the second place went to 'Live Life King Size' - the room cleaning business from section A. The Best Internal Marketing award was given to 'Stoneage', the poster-printing and nail art business, developed by section G. 'IMT Beats', the popular radio service run by section D, narrowly missed out on the runner-up prize.

Interestingly, the first upgrade of Concepto - to 'Concepto.exe 2.0' - brought about a lot of enthusiasm and participation from the faculty and second-year students as well. This was completely attributable to the share trading concept. In fact, the entire IMT Ghaziabad campus was found trading in shares of these four companies. So much so, that the E-Cell is positive that the buzz created by 'Concepto.exe 2.0' will continue the year round, and next year it will see some 'serious business'!