FMS-Delhi Students Fulfill their Social Responsibility through Silent Auction

FMS-Delhi Students Fulfill their Social Responsibility through Silent Auction

Globally, businesses are waking up to the far reaching implications of corporate social responsibility not just on their profit margins but also on the nation as a whole. At FMS, Delhi students rightly believe that corporate social responsibility

is about tradition and culture and goes much beyond charity. As a step towards instilling this sense of responsibility towards the society in prospective managers, FMS's Social Service Cell - Vihaan embarked on this path by means of "Silent Auction".

The Silent Auction is a unique tradition at FMS wherein the students of the flagship MBA program offer items for sale; these items could be as innovative as possible! Each student puts up an item on offer at the Auction and other students bid for them. Silent Auction is one of the most endearing traditions at FMS as it lets the students contribute to the society and have fun at the same time!

The Silent Auction, started 2 years ago, has become one of the most awaited events in FMS. The team that managed the Silent Auction, Vihaan, expected a modest growth of 20% over last year's collections. But what happened surpassed all expectations. This year, the Silent Auction was a grand success superceding all previous records as a whooping Rs. 65,000 was collected within two and a half hours! Both the senior and the junior batches had displayed true spirit for the benefit of the society. The best part was that all of this was voluntary!

According to Jindal Haria, President - Vihaan, the money raised through the auction would be distributed to two or more NGOs. His team is currently evaluating offerings by a few NGOs and will be shortlisting some in a week or two. Last year, the money collected was used to sponsor the education of girl children through Deepalaya, and Vihaan plans to continue the tradition, though they intend on adding new dimensions to it.

For the new batch, i.e., Batch of 2010, it was their first experience with the Silent Auction and the juniors were floored by the entire concept. As an incentive to encourage and involve the students to participate, there were two cash prizes; one for the highest spender and one for the student who helps raise maximum revenue. Another new concept was that the students were allowed to bid collectively; and both these concepts had a large role in collection of the record-breaking amount.

The single item that raised the highest amount this year was Accounting Classes>, which was sold for Rs. 5000, an increase of over 60% from last year's figure. A Dinner Date by Nikhil Jain was sold for Rs. 4000, a feat never accomplished at this auction before; setting record as the costliest date at FMS!

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Contributed by -
Pranima Das,
Joint Secretary,
Media Relations,
Faculty of Management Studies (FMS), Delhi.

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