Mahamandi-2015

The concept of business started in the ancient world with the bartering method. People with different needs and wants having certain products or services use to come together at a certain place to exchange. Like if one has a goat with him and his wants is of a cow he can trade his goat with the person having the same interest of interchanging his cow with a goat. This way the bartering form business flourished for for many years. After certain period of time people felt a need where the want to buy something from someone and instead of interchanging anything of mutual interest decided to pay in terms of  something else but not the actual product or goods. This problem arises cause of the inherited problems in bartering system. One can not avail the goods or services unless and until someone with the same intent comes to the terms. This some time resulted in unsuccessful dealing and inefficiency in the system.

Birth of coins/money

Sometime around 1,100 B.C., the Chinese decided to use miniature replicas of weapons and tools made of bronze instead of real weapons and arrows. Nobody wants to reach into their pocket and impale their hand on a sharp arrow so, over time, these tiny daggers, spades and hoes were abandoned for the less prickly shape of a circle, which became some of the first coins. Although China was the first country to use recognizable coins, the first minted coins were created not too far away in Lydia (now western Turkey). This is how it is believed that the coins came into existence and served as a better and fast alternative of bartering. the use of coin as a representation of original goods and service made the trading faster, quicker and reliable. gradually these coins started to have some monetary value associated them. To distinguish the value associated different shapes and coins were made of different metals. Now one can easily buy what he wants instead of finding someone of mutual interest. 

Indian perspective

Indian business flourished after the first world war. There may be many downside associated with british ruling India but they provided a good business structure to Indian economy.  Modern industrialization spread from the small confines of parts of western and eastern India to many other regions of India. A major turning point was the entry of the Marwaris into industry. The Marwaris were from Rajasthan who had built extensive trading, money lending and brokerage businesses, especially in Bengal, and by the end of the nineteenth century already dominated the domestic trade in raw jute. these places of business were called mandi in tradition language or say hindi langauge. It can be understood as a marketplace of these days. Mandi is the place of business where people of similar or different interest come together for trading. 

Maha mandi

It is the initiative of national institute of industrial engineering, Mumbai. The concept of creating maha mandi is to provide the future manager a hands on experience of the market, how the market works, how the selling buying and trading happens in modern market. With the slogan of socho (think), becho (sell), and sikho (learn) it aims to enrich the country budding managers with the close insight and understanding of the Indian business scenario. The experiment is based on learning business theories in classes and then applying the same in the market to sell some product. This provides an opportunity to the students to understand consumer purchase behavior and priorities while making a negotiation. The student himself becomes a seller and interact with the customer. Maha mandi makes students to confront the practical problems in business and also provides tools & means to overcome them. This is a unique learning methodology developed by  Mr. mandi.