Well, its a well know acronym in B-Schools - Arbitrary Class Participation. For those who are not familiar, let me give a brief idea about it. Usually in IIMs, case method is followed for teaching. It is definitely the pedagogy for subjects in Strategy and Marketing. In these courses, you will be given a case for each class which you are supposed to read, analyze and put forth your suggestions while it is discussed in the class. This is class participation and it carries some weight age for grading. However, many a times it goes in the opposite direction, with participants discussing for the sake of discussing!
Its a fun thing to hear to peers discussing enthusiastlically about anything and everything that you teach in class :) All these guys seem to be 'a pro' in whatever is taught in the class.
For a back bench-er (I am forced because of my name) like me, the chances of even an arbit CP is bleak let alone the actual participation. But somehow I find chances here and there to make my point during case discussions.
Nowadays, I have even fallen victim of arbit CP :p, the latest one being disagreeing about a movie review discussed during a marketing class. Now you know how arbitrary the 'arbit CP' can go! You are left with no other option if the course caries quarter of its weight-age to class participation; of course it also depends on whether you really want grades or not! But you never know, that 20 marks may be the deciding factor that changes you from a 'C' to 'B' grade.
Below is are two links that talks about 'CP' - one a positive note and another a comical portrayal.
Art of CP, Rashmi Bansal