Category: Virtual Reality

Introduction

Background

Global crises often tend to have devastating effects on economies and livelihoods, and sometimes the health and general well-being of people. The COVID-19 pandemic became an event that disrupted the normal way of life and forced all countries on the planet to adjust to new circumstances (Stefana, 2020, p. 785). Economically, businesses were hit hard by the pandemic, majorly as a result of people being unable to work and governments imposing bans and restrictions. (Nicola et al., 2020, p. 185). The pandemic hindered the operations of global supply chains, decreased overall trade among nations, and exposed firms to massive financial losses (Guan et al., 2020, p. 577). As a result, businesses had to find new innovative ways to continue functioning to avoid bankruptcy and deliver value to their customers (Didier, 2021, p. 2). An increasingly common practice across the world is attempting to facilitate remote working arrangements. In this study, the role of the researcher is simply an external observer and a scholar interested in the applications of new technologies.

Technological solutions such as virtual reality and telecommuting ultimately allow people to work remotely and perform some of their tasks to ensure that their company continues to operate. The growing interest in these two solutions has forced many companies to reconsider their internal operations and consider a new approach to work even after the COVID-19 pandemic (Manokha, 2020, p. 274). Thus, it becomes interesting to evaluate the potential entrepreneurial opportunities concerning virtual reality and remote working in the period after the end of the pandemic.

Theoretical Context

The theoretical context of the current project involves utilizing the most relevant research frameworks necessary to ensure a thorough exploration of all aspects of the main subject. The research will rely on entrepreneurship theories such as opportunity-based entrepreneurship and need for achievement theories. Additionally, the project will utilize qualitative research and will imply conducting an assessment of the existing opportunities from the perspective of transformational entrepreneurship.

Practical Context

In terms of the practical context, the research will focus on the organizations and sectors which are the primary beneficiaries of virtual reality and remote work during the pandemic. Essentially, the project will explore the entrepreneurial opportunities of companies and industries which used the event of the pandemic as a catalyst for exploring new ways of operating. Subsequently, the concrete businesses and sectors which will be subjects of the study will be identified during the actual research. As mentioned earlier, the COVID-19 pandemic became a major factor that disrupted the operations of thousands of companies on the planet (Nicola et al., 2020, p. 185). As a result, many businesses have resorted to deploying virtual reality and remote work as means to ensure stability (Vargo et al., 2021, p. 13). The currency of the research concerns the necessity to determine the entrepreneurial opportunities which will be available to companies and individuals after the COVID-19 pandemic.

It is clear that numerous businesses had considerable financial losses due to the circumstances associated with the pandemic. Yet, some companies managed to embrace a new approach with the help of virtual reality and remote work, elements that helped them achieve a competitive advantage (Vargo et al., 2021, p. 20). The current research will analyze the available data on the existing cases of implementation of virtual reality and remote work based on evidence that will identify potential entrepreneurial opportunities for other businesses.

Currency of the Research

The research focuses on the most recent events and trends across the world, specifically the economic aspects associated with the ongoing Covid-19 pandemic. As a secondary research, currency is achieved through the search and analysis of the most recent literature materials on the subject under investigation. Therefore, the scholar imposes a time limit on the secondary sources where a range of five years is deemed to be the most appropriate.

Value of the Research

The value of the current research will be most apparent for companies which did not implement virtual reality and remote working and would like to know about entrepreneurial opportunities associated with them. The possible outcomes of the project will involve determining the business circumstances conducive to a successful implementation of virtual reality and remote work. Additionally, the research will focus on identifying possible ways to improve the existing solutions and creating a database of companies which introduced virtual reality and remote work.

Problem Statement

The occurrence of crises often necessitates responses in all aspects of life that are affected. In this case, Covid-19 affected almost all human life, especially health and sustenance. According to Brodeur et al. (2021, p. 1), pandemics are not something new and that they tend to have severe and adverse economic impacts. Therefore, Covid-19 could not be expected to be different, which means that governments and businesses needed to develop effective responses to the crises. The economic impacts of the pandemic have been studied extensively by multiple authors (Varona and Gonzales, 2021, p. 1; Gonzales-Castillo et al., 2020, p. 3; Pak et al., 2020, p. 1). However, very few explore what opportunities are brought about by the pandemic, which is the main problem addressed in this study. The major aspect of the economic detriments is the inability of people to work. Therefore, there is a need to explore mechanisms with which to enforce a return-to-work protocol that prevents further economic decline and protects the health of workers.

Another problem that necessitates this study is that virtual reality and remote working are often overlooked by practitioners despite the potential they have to revolutionize the modern workplace. Even though the pandemic brings great disruption to people’s lives, it also presents an opportunity for businesses, people, and governments to change many aspects of their daily operations. Remote working has been around for some time with key constructs including telecommuting, teleworking, and working from home (Narayanan et al., 2017, p. 48; Miglioretti et al., 2021, p. 11). However, the research on the use of virtual reality for remote working has not received adequate attention. Teleworking may work where constant engagements among the workers are not necessary. In virtual reality, computer-generated workplaces may be constructed to mirror real workplaces to allow for seamless engagement and interaction. These are only some of the possibilities that not fully explored. Therefore, the emergence of Covid-19 means that time has come to revisit this subject and explore what opportunities are there for businesses.

Research Questions

The primary research question for this study is: what entrepreneurial opportunities are presented by virtual reality? This question acts as a guide to the researcher in setting the aims and objectives and conducting the actual study. In the context of the current Covid-19 pandemic, this question is answered by assessing whether remote working as a product of virtual reality offer a solution to employers. With the focus being on virtual reality and remote working, the specific research questions are as follows:

• Which virtual reality and remote work solutions did businesses during the COVID-19-pandemic period use?
• What will be the demand for virtual reality and remote work solutions among businesses during the post-COVID-19-pandemic period?”

Aims, and Objectives

The research aims and objectives are derived from the research questions. Therefore, the main aim and objective of the study is to examine what entrepreneurial opportunities are offered by virtual reality and how these opportunities can be utilized during the Covid-19 pandemic. The aims are relatively broad because they focus on the general idea of remote working and how virtual reality can be embraced as a solution. The specific aims of the study can be stated as follows:

• Identifying entrepreneurial opportunities concerning virtual reality and remote working in the post-COVID-19 era.
• Creating a list of industries which will benefit from embracing virtual reality and remote working solutions in the post-COVID-19 period.

With these aims, the research objectives can be formulated to highlight the scope of the study to include the following:

• Establishing a list of applications of virtual reality and remote working used as solutions during the COVID-19 period.
• Assessing the potential future use of virtual reality and remote working based on the current state of these fields.
• Exploring the demand for virtual reality and remote work solutions in the post-COVID-19 period.
• Evaluating the efficiency of the existing approaches to virtual reality and remote work and assessing their applicability in the post-COVID-19 period.

Since this research focuses on exploring secondary data, these aims and objectives, as well as study questions, will be the basis of the literature review. In other words, the literature will try to discuss how the broader subject and the underlying subtopics are handled by previous scholars. The aims and objectives will help develop the search keywords in findings secondary materials both for the literature review and the data collection and analysis chapters.

Literature Review

Introduction

The literature review chapter seeks to explore the scholarly work done on the research subject, often paying attention to what has been established and how researchers have undertaken their studies. In this case, the focus is on presenting an understanding of the key constructs or themes that form the backbone of this secondary research. To establish the entrepreneurial opportunities availed by virtual reality, the study seeks to explain why workplaces are bound to change, with the driving force being the ongoing Covid-19 pandemic. Therefore, the three themes in this study are the Covid-19 pandemic and its implications, virtual reality, and remote working as the alternative workplace arrangements for businesses. This chapter examines the current literature on these themes, paying attention mostly to the theoretical underpinnings and the main observations from previous studies. A systematic approach is adopted in the literature review where the broad subject is broken down into smatter topics and addressed independently. It is important to acknowledge that the general concept of workplace is used, which means that all industries and sectors are included. As indicated in the relevance tree below, the virtual reality applications that are entrepreneurial opportunities include such contexts as business, medicine, and education.

Impacts of Covid-19

Since the Covid-19 pandemic was first identified, many countries across the world have implemented drastic measures to deal with it. Among the most common responses included partial and total lockdowns, which were deemed as the best interventions to halt a further spread of the virus. The rationale was that the virus was transmitted through physical contacts, absent of which should help contain the virus. While there have several debates surrounding the efficacy of these approaches, the real implications have been economic. Several studies have sought to illustrate the economic impacts of the pandemic with most observing that the disruption of the economic activities had a devastating effect (Gupta et al., 2020, p. 466; Stannard, Steven, and McDonald, 2020, p. 2). The current studies have covered diverse subjects, including healthcare, education, employment, and workplace changes, and other economic aspects. Other scholars may have targeted specific populations, including rural dwellers, children, urban settings, and the minorities (Mueller et al., 2020, p. 1; Gupta and Jawanda, 2020, p. 2181; Millett et al., 2020, p. 38). Regardless of the focus of the researchers, the consensus is that Covid-19 has been extremely destructive to the global economies.

The devastating effects of the pandemic can be attributed to the failure of the healthcare systems to contain it, which means other aspects of human life suffer the consequences of a health crisis. According to Anoushiravani et al. (2020, p. 937), Covid-19 has challenged healthcare organizations on many fronts, including securing ventilators, training new medical staff, and building additional intensive care units (ICUs) to accommodate a growing number of hospital admissions. Several researchers have established that global healthcare sectors have been overwhelmed by Covid-19, which has become a major concern (Moss et al., 2020, p. 2844; Baxter and Casady, 2020, p. 1; Tangcharoensathien et al., 2021, p. 1). An overwhelmed healthcare means that the public cannot access healthcare services and their lives are drastically changed. Examples include partial and total lockdowns, which meant that normal daily activities are halted. Businesses closed as a result, which is when the economic impacts start to manifest themselves. Therefore, the link between healthcare and economic activity is apparent.

From the healthcare sector, the effects of the pandemic have quickly become apparent in other sectors. School closures were witnessed, which is a major disruption for the education sector (Azevedo et al., 2021, p. 2). Different countries may have had different experiences depending on the degree to which the pandemic affected them. However, school closures were among the immediate government responses considering that the institutions were unprepared for socially distancing students. However, medical education resolved to adapt and find means to carry on teaching, mostly because medical students could be used to plug the gaps in the healthcare sector. Medical education in Taiwan has been explored by (Liu and Lin, 2021, pp. 1-2), who find that the institutions were able to implement social distancing, tracking the health of students and staff, and implementing video-based classes. The education sector has been in the lead to try such solutions as online classes. Similar transitions have been observed in pharmacy education in Saudi Arabia, which means that the education sector may have found a solution and hence reduced the detriments associated with the pandemic.

From a macro and microeconomic perspective, the costs of the healthcare crisis were transmitted to the functioning of the businesses and even the governments. Households could no longer support themselves because of Covid-19 on household poverty and consumption as explained by Martin et al. (2020, p. 453). Additionally, the flow of physical and financial assets has been disrupted due to travel bans and business closures. The potential problems associated with this include fluctuations because monetary rules often determine long-run rates of inflation (McKibbin and Fernando, 2020). In the short term, declining production and reduced spending may not show the true implication for the product prices, a situation that may change with time. The argument is that the movements in demand and supply for certain commodities will change with time where the spending power of consumers will play a critical role.

With the government responding to the pandemic by partial and total lockdowns, as well as other such measures as physical and social distancing, adaptations across the world have started to emerge. From an economic perspective, these adjustments present vast entrepreneurial opportunities, some of which involve virtual reality and remote working. Most importantly, businesses are implementing new measures to help cope with the pandemic and to remain open. It is important to explore how the workplace is changing and why businesses should take advantage of the new developments. Several scholars have explored how workplaces have had to cope with the pandemic and examined such issues as job roles, psychological factors, and mental issues (Giorgi et al., 2020, p. 5). Social distancing measures at the workplace for those businesses that have remained operational have caused massive changes in how people behave. The entire workplace environment changes as new corporate cultures have to be adopted.

Many businesses may have initially closed but efforts were soon geared towards the return-to-work agenda. The changes that were needed presented a major challenge as explained by Shaw et al. (2020, p. 299). Additionally, it has been established that people tend to prefer routine, which means massive workplace changes are usually unwelcome (Kaushik and Guleria, 2020, p. 10). The fact that the changes are necessary means that the employees have been left with no choice but to adapt. The fear of the pandemic adds to the frustrations, anxiety, and stress levels of the workers. According to Shaw et al. (2020), the Covid-19 crisis has similar implications to employees as other injuries and illnesses, especially on such aspects as organizational perceptions, health vulnerability, income levels, and job tenure. New problems set in when workers found to have the virus symptoms are required to self-isolate and quarantine, which further raises fears among staff members. Initially, many countries require that those businesses offering essential products and services remain operational, in which case their workers could perceive themselves as being exposed to health risks.

The theme of workplace change has been extensively explored as the researchers sought to offer potential solutions to facilitate the return-to-work agenda. However, it is important to emphasize that most of the literature focuses on how to implement government guidelines and using innovation to offer alternatives. A problem-based learning approach has been described by Buheji and Buheji (2020, p. 33), who express that organizational learning will be critical in achieving the new normal. The term new normal is used to imply the new working conditions that emphasize workplace safety. While the concept of the workplace is used to mean the settings or place where people are organized to do their jobs, it is important to acknowledge that it goes beyond these basic meanings. In other words, the construct of the workplace has to encompass such aspects as social relationships, motivation, engagements, creativity, training, and self-realization (Ancillo et al., 2021, p. 2298). These dimensions create the environment and support the culture, which means the new normal has to find a means to achieve the same characteristics of a workplace.

Workplace measures for Covid-19 have been studied to offer insights into how businesses are attempting to resume operations amid the pandemic. Limiting movements, social distancing, and health checks are examples of how firms made sure that health and safety are maintained. According to Sasaki et al. (2020, p. 2), most of the responses were preventive measures taken either by the individuals or the organizations. Additionally, the implemented measures also accounted for the vulnerable populations, which highlights the new management committee. However, it is important to acknowledge that it is also a legal duty of the management and the employees to protect staff from infection from the virus (Agius et al., 2020, p. 1). Regardless of the reason or source of the commitment, it can be argued that all workplaces are becoming revolutionized to allow operations to resume. As will be discussed in the sections below, remote working has also been considered as an alternative to physical workplaces, which has been made visible by virtual reality, the internet, and other related technologies. Similar to online learning in the education sector, those tasks that do not require physical presence are completed online.

The bottom line is that Covid-19 is generally seen as a crisis and as a problem for businesses and entire economies. It can be argued that is uncertain when or whether life will get back to normal or the new normal will persist post-Covid. At this stage, Covid-19 is a problem whose solutions are desperately needed. From an entrepreneurial perspective, businesses can explore the potential opportunities brought by the pandemic, including the development of new technologies for the workplace. Some companies have already started to capitalize on virtual reality as a component of remote working while others are venturing into the pharmaceutical industry with the development so ventilators, masks, sanitizers, and any other service or commodity deemed necessary to survive the pandemic (Javaid et al., 2020, p. 421). This observation means that there is a need to explore entrepreneurial prospects associated with the pandemic.

Virtual Reality

The concept of virtual reality (VR) is critical in this literature review because of forms the framework on which entrepreneurial opportunities are explored. In other words, virtual reality remains a novel technology that is sparsely adopted by businesses. However, this situation is rapidly changing because of the Covid-19 pandemic as many businesses are starting to consider how it can solve their problems. As mentioned in the section above, the pandemic is a problem for which solutions are needed. Entrepreneurship is a construct that involves finding solutions to problems and deriving financial gains from the act. Therefore, virtual reality can be a solution to organizations, which means that the main question is how it addresses needs and how profitability is achieved. This section offers an understanding of virtual reality from a theoretical and technical point of view.

Though deemed to be relatively novel, it is important to acknowledge that virtual reality developed at an unprecedented pace. According to Anthes et al. (2016, p. 1), the first appearance of virtual reality was more than fifty years ago when Sutherland presented Ultimate Display, which mimicked the real world in all senses. The novelty of the technology is thus not the result of recency in terms of development but the fact that its applications are only starting to emerge. The fact that virtual reality mimics reality means that it is one of the best technologies for conducting simulations (Makransky, Wismer, and Mayer, 2018, p. 349). Therefore, many studies have touched on the use of virtual reality in simulations across such contexts as education (Makransky, Wismer, and Mayer, 2018, p. 349; Makransky et al., 2019, p. 1). In this case, entrepreneurs can offer an alternative to physical classrooms, which serves as an example of how virtual reality can be applied.

Even in medicine, virtual reality is a critical technology deployed in various applications. As explained by Li et al. (2017, p. 3867), virtual reality in clinical medicine is used in surgical training, therapeutic treatment of mental diseases, and pain management. These applications are made possible by the ability to conduct simulations in the relevant operations. A systematic review by Pfandler (et al., 2017, p. 1352) also offers detailed insights into how spine surgery training is achieved using virtual reality-based simulators, which further illustrates the efficacy of this technology. Therefore, it is apparent that many applications in focus almost exclusively on teaching and training, which can be perceived as part of the broader education context. Professionals and students have often used virtual reality to test their levels of competence (Samadbeik, et al., 2018, p. 123). Besides education, it can be argued that the healthcare sector is one of the early adopters of virtual reality technologies.

Besides education and medicine, other areas are increasingly adopting virtual reality technologies. Examples include the science technology, engineering, and mathematics (STEM) fields, where the users hope to create virtual environments created by the computers (Alqahtani, Daghestani, and Ibrahim, 2017, p. 77). In this case, virtual reality is a term used to describe a technology used in the creation of environments where people can interact with any object in real-time. Therefore, virtual reality involves a high degree of emersion to make the user believe that one is within the computer-generated environment. In engineering and manufacturing, the design process has also been revolutionized by virtual reality, which offers new and low-cost capabilities. Virtual reality hardware and software are used in engineering design processes. However, Coburn, Freeman, and Salmon (2017, p. 1) believe that the interest in virtual reality may have waned by the early 2000s, mostly due to the high cost of virtual reality hardware. However, these scholars acknowledge that new developments are taking place and reversing this trend where new applications are picking pace.

The applications of virtual reality have become more visible during the pandemic as businesses attempt to find solutions to overcome the crisis. Much of the focus among scholars is on how virtual reality can be used to help the healthcare system to fight the pandemic. For example, Singh et al. (2020, p. 661) explored several applications of the technology for Covid-19, including telemedicine, treatment, and control of the virus. The rationale is that with the recommended practice of physical and social distancing, virtual reality can be used to create a platform on which patients and doctors can interact to improve situation surveillance. Besides doctor-patient interactions, some scholars have explored the possibility of using virtual reality in pre-graduation medical training. For example, Ponti et al., (2020, p. 1) examined student perceptions of this approach and found that about 90% of the students gave a positive evaluation while approximately 93% applauded the format of virtual reality application and the structuring of online training. From an entrepreneurial perspective, it is apparent that the education context provides most of the opportunities that can be profitably exploited.

Telemedicine remains a top priority for scholars exploring how the pandemic can be overcome. According to Mantovani et al. (2020, p. 1), public health faces unprecedented challenges due to Covid-19, mostly because of disrupts the provision of healthcare services. Virtual reality remains the best hope for the healthcare system because it offers an alternative platform to physical interactions. The rehabilitation of Covid-19 patients can also be done using virtual reality as explained by Smits, Staal, and Goor (2020, p. 1). It is important to acknowledge that the current literature focuses majorly on the pandemic and its solutions because it is an emerging issue. The studies on the healthcare and medicine contexts have not adopted an entrepreneurial perspective. However, not many studies on virtual reality explain entrepreneurial opportunities because they all seek to outline possibilities and applications of the technology. Therefore, these studies can only be used to make inferences whereby potential applications become business opportunities. As explained earlier, the medicine and education contexts seem to attract a majority of the scholarly attention where all the applications can be construed as potential entrepreneurial opportunities for hardware and software providers.

A paradigm shift from the focus on medicine and education towards business is manifested by the attention paid to the changing nature of the workplace. In this case, many scholars believe that virtual reality is the best coping strategy for organizations. In the tourism industry, virtual reality replaces real travel where the computer-generated environments can be used to mirror the destinations thus creating almost similar tourist experiences (Sarkady, Neuburger, and Egger (2021, p. 452). From an entrepreneurial perspective, tourism organizations can adopt a new format in their workplaces where real environments are replaced by virtual ones. It is hard to establish whether the experiences will be the same but the new platforms can be the best alternative where the other choice left is to close down the business.

Virtual reality in the workplace can be described from the perspective of remote working, which will be covered in the following section. However, it is important to acknowledge that virtual reality is s the core of telecommuting or building virtual workplaces for organizations. Some of the current studies have explored the design of the new work environments (Büttner et al., 2017, p. 433; Caputo et al., 2018, p. 297; Favi et al., 2019, p. 345). This would mean that workers do not need to be physically present in their offices, especially where their physical presence is not a necessity. Such an arrangement has been labeled ‘liquid workplace’ by (Hofma, Avital, and Jensen (2017, p. 31) to imply the immersive virtual environments. Other studies have focused on the acceptance of virtual reality and how this technology could help create the future workplace (Sagnier et al., 2020, p. 993; Kuťák et al., 2019, p. 1). With these developments, it is apparent that businesses will soon start considering the costs and benefits of virtual workplaces as compared to physical ones.

Remote Working

Remote working is a concept that has been explored in multiple contexts, including agile practices, dispersed teams, and co-location. According to Sharp et al. (2016, p. 1), the idea of co-location has been described as the ‘gold standard’ of agile development and a necessity for the activity development of modern organizations. In other words, the staff is split between locations such that individuals or teams are on their own. This arrangement leads to a scenario where a central physical workplace is unnecessary and where members become remote workers. Over the past two decades, internet and wireless communications have revolutionized how people interact with each other, especially over long distances (Meulen, 2017, p. 20). In many countries across the world, these technologies have made it possible for employees to telework either partially or full-time. With the advances in technology, including augmented and virtual reality, remote working may become more common and even a mainstay of modern companies.

There is a wide body of literature on remote working, most of which explore experiences, effects, acceptance, and the benefits and challenges of this work arrangement. The competence of employees has been explored by Zdonek, Podgórska, and Hysa (2017, p. 217), who find that commitment, knowledge, personality traits, and experience are critical in determining the success rate of remote working. According to Derry and Hafermalz (2016, p. 110), the question of whether distributed working models are effective has attracted different views on the subject where benefits and detriments have been considered. However, it is important to acknowledge that success may be determined by the perceptions of both the organizations and the employees. If this was to be the case, then the millennials would be eager to use these models as they are more tech-savvy and willing to try new technologies (Oksa, et al., 2021, p. 2). This observation was made by multiple scholars who feel that younger generations desire flexibility (Xiong et al., 2021, p. 4; Wilkie, 2017, para. 3; Raišiene, Rapuano, and Varkulevičiūtė., 2021, p. 5). Therefore, remote working is associated with emerging changes in the workplace.

Previous studies may have focused on what affects the decisions to work from home. For example, Brydges and Hracs (2019, p. 510) asks the question of what motivates millennials and finds that independence, digital transition, and other individual characters determine the readiness and willingness to work from home. However, more recent efforts have been geared towards exploring how remote working can be used as a return-to-work approach. As in all other aspects of life, the Covid-19 pandemic social distancing has to be implemented even at work. Therefore, working through the pandemic has quickly become associated with working from home across all sectors (Phillips, 2020, p. 129; Ali, 2020, p. 16; Anthony, 2020, p. 1; Wright and Caudill, 2020, p. 2). Even without the mention of such technologies as virtual reality, remote working is a concept that can be achieved using basic technologies, including the internet and social media.

Remote working is being sought across all industries and sectors, including education, medicine, or healthcare, and even in manufacturing and service industries. In medicine, remote monitoring programs for Covid-19 have been found to be effective in minimizing the exposure of the patients (Annis et al., 2020, p. 1326). This allows doctors to handle patients remotely, meaning they do not have to be at the hospitals if they have the resources needed for this arrangement. In education, remote working is associated with online classes where educators can administer lessons through the internet using such technologies as Zoom (Dias, Lopes, and Teles, 2020, p. 208; Kohnke and Moorhouse, 2020, p. 1). These two sectors have been deemed essential because healthcare services have to be offered and the education system needs to maintain its structure during and after the pandemic. Zoom reflects the entrepreneurial approaches that solve the problem of school closure.

In other contexts, the studies have explored how remote working can be effectively achieved and the challenges faced. For example, a study by Wang et al. (2021, p. 16) finds that despite offering viable alternatives, remote working can face such challenges as loneliness, work-home interference, and increased procrastination. The potential disruptions of work-life balance can also be expected as explained by Felstead and Henseke (2017, p. 195) because remote workers may be unable to switch off and face more intensification of work. However, the uncertainties brought about by the pandemic mean that businesses have to take a chance and explore how they can enforce distributed working. This is because there is adequate literature to suggest that the work arrangement can be effective. Most importantly, some scholars have established that remote working is part of the flexible working arrangements that allow employees to achieve greater levels of work-life (Anderson and Kelliher, 2020, p. 678). The rationale is that flexible working means staff has more control of their life and such key decisions as to where and when to work. In this context, changes are necessary for the survival of organizations during and post-Covid-19.

From an entrepreneurial perspective, the concept of remote working can present multiple opportunities to be exploited. However, the entrepreneurs will need to understand that full acceptance of remote working requires a cultural change to accompany the technical advances (Hunter, 2019, p. 1). Currently, it is acknowledged that remote working is made possible by such technologies as the internet and communications, especially information and communication technology (ICT). The availability of these technologies is not a problem, which means that the opportunities available have already been exploited. However, new and better experiences are necessary, which means new technical advances, for instance, augmented and virtual reality, are needed. Augmented reality (AR) can be defined as technique used to combine a live view in real-time with virtual images generated by computers (Mohanty, Hassan, and Ekis, 2020, p. 755). Therefore, AR and VR are both tools used to build real-time virtual environments for facilitating remote interactions.

Additionally, entrepreneurs may need to be able to address the security risks associated with remote working. According to Malecki (2020, p. 10), cybercrime may have increased as a result of the pandemic, especially when more people are forced to use new technologies. Even though some solutions are available, remote working seems to be a long way from becoming the ideal work environment for most workers and their employers.

Methodology

Approach: Inductive

The current research project will espouse several key methods necessary for exploring the main subject and meeting all the research objectives. The Saunders Research Onion Diagram was chosen as model for designing the research methodology. It provides a detailed assessment of all project stages and it fits the current case-study research. The project will involve conducting qualitative research, which will be based on the collection of data on the implementation of virtual reality and remote work during the pandemic. The data will include scientific journals, business reports, online publications, recent statistics on the performance of different sectors of the economy, as well as organizations’ websites. The project will utilize stratified sampling since it involves dividing a population into several mutually-exhaustive groups based on their features (Arnab, 2017). There are many companies which will be included in the study and the sampling design will help divide them into groups based on their industries and will ensure equal representation. Since all data chosen for the current research will be secondary, the search will be conducted using the Internet. The data analysis type will be descriptive and will focus on accurately listing and assessing all of the aspects of the topic and; therefore, the approach will be inductive (Saunders, 2019). Overall, the study will be interpretivist since it reflects the main aim of explaining the entrepreneurial opportunities of businesses in the realm of virtual reality and remote work. Case-study will be the primary strategy of the research since it will deal only with secondary sources and will involve describing them. The study will espouse mono-method since it will be based only on one method, and it will be cross-sectional, drawing information from multiple sources. The figure below represents a research onion, which should help clarify the approach to theory development:

The research will be based on the use of the strategic orientation approach to identify entrepreneurial opportunities in the spheres of virtual reality and remote work. The project will rely on the research conducted by (Tuomisalo, 2019) (Kakapour, 2016) (Kocak, 2017), who previously implemented the aforementioned approach in their studies. As a result, strategic orientation must help determine the level of success of introducing virtual reality and remote work and to consider entrepreneurial opportunities linked to them. However, the assumption made is that the subject of research cannot be defined within a single event but can be expressed as a progression spanning several years.

Philosophy: Positivism

Philosophy in research is a critical aspect because it determines methods and designs to be used in research. According to Chetty (2016), research philosophy entails the development of knowledge and the set of beliefs about a phenomenon and how the collection, analysis, and use of data should be done. Researchers can select from three major philosophies: positivism, interpretivism, realism, and pragmaticism. In this case, positivism is selected because it is deemed more appropriate since phenomena are observed more objectively. This philosophy has had a long history in the development of science considering that it can be traced back to the renaissance period (Mathotaarachchi & Thilakarathna, 2021, p. 946). Since its emergence, positivism is a philosophy that holds that scientists have to work with observable social reality to generate low-like generalizations. In other words, the data collected and analyzed on a social science phenomenon has to lead to conclusions that operate like laws. In this case, the developments and deployments of virtual reality in remote working arrangement will be viewed objectively and realistically.

Methodological Choice: Mixed Methods

However, is it important to acknowledge that some methods associated with quantitative research can be incorporated in qualitative approaches due to the inclination towards positivism. Cassell and Bishop (2018, p. 195) explains that both positivist and post-positist scholars have attempted quantify qualitative data through such methodologies as content analysis to allow the data to be subjected to statistical analyses. Thematic and content analyses are two of the most commonly used tools for qualitative research (King & Brookes, 2018, p. 223). With these techniques, simple descriptive statistics of the sources and materials used can be generated to offer a vivid overview of the scholars, their methodological approaches, and key conclusions and theoretical generalizations. This illustrates that a researcher needs to be sure of the the philosophy adopted and the methodological alternatives available to accomplish the research. An important point to note is that the use of quantitative techniques in qualitative research may mean that a third approach, mixed methods,is more appropriate. In this study, the focus will be on the information describing the research problem, which means there is no need for any quantitative tools in the data analysis.

Research Design

Another critical aspect of the research methods is the design selected by the scholars. The term research design has been used to imply the conceptual blueprint within which a study is undertaken (Akhtar, 2016, p. 68). Therefore, design encompasses the action plans that constitutes the outline of how the data is collected, measured, and analyzed. In this case, the action plan involved finding literature materials and use the information to answer the research questions. Therefore, the most suitable research design is systematic review. According to (Belur, et al., 2021, p. 838), the initial steps in a systematic review involve searching and selecting the relevant studies to be included in the review. This is a critical decision, often because many systematic reviews are conducted by more than one researcher. However, the most important aspect that need to be observed is the fact that a systematic review can only be methodologically sound if it is both transparent and replicable. In this case, simple steps are taken in developing the inclusion criteria, including the use of specified keywords and the presence of certain information in a source.

The decision to use a systematic review is based solely on its applicability to the research. Other considerations may have been overlooked but the researcher is content that systematic review is the best option available among the qualitative research designs. For example, some scholars believe that systematic reviews tend to be resource-intensive, which means that they usually require a team of researchers working on an extended period (Borah et al., 2017, p. 4). However, where relatively few studies are used, the intensity of the resources needed reduces, which should make it possible for a single researcher to accomplish it. This research does not seek to highlight a historical view of the subject requiring numerous studies spanning several years. However, only recent studies are accepted on the relevant topics, where more than five studies should be enough for a specific theme. Approximately four themes will be needed to fully answer the research question. However, the researcher does not limit the number of materials available for each theme and the intention is to use as many studies as possible as evidence to support key findings.

Strategy: Action Research

The study used is action research, which can be described as a systematic inquiry made within a specific and practical context. This study seeks to explore practical applications of virtual reality. Additionally, a systematic collection of secondary data is undertaken in sequences that are dictated by the various themes explored. In other words, similar processes are used in the collection and analysis of data for each theme.

Time horizon: Cross-sectional

Cross-sectional research entails an observational study that seeks to analyze data of variables gathered at a given point across a large sample population. In this case, the focus is on the emergence, effects, and responses to the current Covid-19 pandemic that emerged in late 2019. However, the literature on virtual reality extends beyond 2019, which means that an extended time horizon of 5 years is used to help gather adequate data on both aspects.

Data Collection and Analysis

Data Collection

As indicated in the research design, the scholar uses a systematic review, which involves gathering and analyzing secondary data from past studies. A broad definition of systematic review offered by Munn et al. (2018, p. 2) is that it is a type of research synthesis that identifies and retrieves evidence relevant to a particular research question. Therefore, systematic reviews tend to follow a given protocol or procedure. According to Tawfik et al. (2019, p. 8), the process includes development of research questions, validation of the research questions, formulating a search strategy, searching databases, and compiling the data. The framework for systematic reviews may change as researchers may opt for different models and approaches. In this case, the research questions have already been developed and validates, which means that the next steps involve searching and compiling data.

With the advances in technology, published scholarly works have become readily and easily available in online repositories and databases. The search strategy involves selecting the right search engine to use. In this case, Google Scholar is one of the richest sources that can massively benefit a researcher. Searches in google scholar can be designed to yield specific results within a specified period, which allows one to retrieve recent materials from credible peer reviewed journals. Additionally, online databases, including ScienceDirect, ResearchGate, ProQuest, and JSTOR will all be explored. The period for the search is restricted at 5 years, which means that only materials from 2016 to 2021 will be used.

The search strategy is not complete without the development of the relevant keywords. The research questions and objectives will act as a guide because the keywords will be derived from the statements and questions. In this case, major themes will be derived and each used to coin different keywords to yield specific results and information. Such keywords as virtual reality, applications of virtual reality, virtual reality in remote working, virtual reality during Covid-19, and virtual reality post-Covid-19 will be among those used in the search. Lastly, the data collected will be compiled using the relevant tools and methodological approaches.

Analysis

Thematic Analysis

The method of data analysis adopted for this study is thematic analysis. This method involves identifying, analyzing, and reporting patterns within the data. Therefore, several themes are developed and the key data associated with each outlined. In terms of coding, the thematic analysis begins with a tabular representation of the themes, authors, and their key findings associated with each theme. A discussion that follows the summary table will expound on each theme and offers an explanation of how the findings relate with both the research objectives and the literature review chapter presented above.

Table 1: Summary of key findings from the selected themes (Table created by the author, 2021)

The table presented above has summarized the key finding from the research conducted. Each author has focused on a different subject relating to the applications of virtual reality. In this case, the themes have been selected based on the research questions developed. In this theme analysis, a discussion of each of the four themes is offered to present a more detailed view of the research findings.

Entrepreneurial Opportunities for VR

The first theme addresses the main research objective, which seeks to explore the potential entrepreneurship opportunities. As with most technologies, virtual reality has found massive uses in modern organizations. For example, business simulation is a useful tool in planning and forecasting. Therefore, the fact that virtual reality can create better simulation results means that firms can exploit this technology and the possibilities it presents. Many businesses today use technologies in organizational learning and communication practices. According to Kusdiyanti et al. (2021), virtual reality allows for the creation of virtual learning platforms for employees. Even in education, virtual reality can also be applied in creaing learning models in entrepreneurship education. The findings summarized in the table illustrate that different authors explore different opportunities for businesses. However, it can be observed that simulation is the most common application that uses virtual reality technologies (Caputo et al., 2018). As will be show in the following sections, simulatio is mentioned in most other theme. Therefore, the ability to create virtual platforms for simulation means this technology can offer critcal benefits for organizations.

Opportunities for virtual reality are vast and goes beyond simulation. According to Raich et al. (2020), virtual reality can be used in the creation of cyber-enterprise, hybrid reality, and in the development of self-driving cars. Cyber-enterprise can be used to describe an organization that fully integrates modern technologies in its operations. Besides robotics and automation, other operations may include research and development, operational design and prototyping in the design processes. Virtual reality can be exploited to enhance these practices, for example, video compression, design tools, 3D visualization, and software innovation (Wolfartsberger, 2019; Lai et al. 2018). It is important to acknowledge that some of these opportunities have already been implemented. However, the fact that most of them remain novel ideas means that many businesses are yet to exploit the opportunities.

One of the key recurring concepts in the deployment of virtual reality is the design of the workplace and employee management. Most importantly, some companies acknowledge that virtual reality can be used for performance analysis (Caputo et al., 2018). In human resource literature, performance appraisal remains a key concern where the managers need to make sure the output of their employees is desirable. Performance analysis through virtual reality is an opportunity that employers can exploit. In marketing, product development requires extensive market research, which is often starts with understanding consumer needs and testing new products. Product feasibility is critical because it helps marketers understand customer’s perceptions and reactions towards products. Products that can be tested through a virtual platform may save companies significant amounts of money. For example, real estate companies can test new property designs through immersing customers in a virtual environment. This means that an undeveloped design can be tested before an actual product can be built. Simulation in virtual reality also works in a similar manner where the best projections can be presented in a virtual platform.

Work Design and Value Improvements

The theme of work design and value improvement is built around the notion that entrepreneurship opportunities are only successful when the customers are offered adequate value. Therefore, it is argued that that any modifications to the workplace done using virtual reality has to provide real value to the organizations. In the search for secondary data on work design and value improvements, the results obtained focused on how companies deploy virtual reality to improve their operations. There is a consistency of key findings because some are similar to the theme discussed above. For example, immersive reality and simulation have been highlighted by some authors as some of the ways that virtual reality changes work design (Pulijala et al. 2017; Farrell, 2018; Havard et al. 2019). Real value is obtained when the workplace experiences significant improvements as a result virtual reality.

In addition to immersive reality and simulation, several authors have explored the workplace enhancements resulting from this technology. Ahmed et al. (2019) established that digital human modelling, workplace design, prototyping, and product design have benefited from virtual reality. In terms of workplace and product design, virtual reality offers businesses a mechanism to decide the best office outlook and job roles for the different people. Additionally, it is also helping to experience products before they are produced through the immersive reality and simulation exercises. These can be perceived to have great value because product designers can only have an abstract idea of how a product will look and feel like. However, without the actual products, these ideas will remain abstract, which can change is the developers use tools provided by virtual reality. The real value for the companies is not limited to the transformation of abstract idea since it extends to cost savings associated with producing and testing real products.

Workplace improvements can also be made through the training exercises for the workers. On-the-job training has been discussed by Farrell (2018) who finds that virtual reality offers ideal platforms for training workers regarding their job roles and tasks. Pulijala et al. (2017) pays attetio to the application in healthcare workplaces where the training mostly involves such exercises as surgery. Handling patients in a simulated environment is less risky and costly as compared to working on real patient during he trainig practices for medical trainees. Kalantari and Neo (2020) offers additional insights into the workplace improvements and value from virtual reality. These scholars touch on the aspect of research where interor workplace designs research and evidence-based research can all be accomlished though virtual reality. Researching behavioral aspects in the workplace can also be accomplished using proper virual reality tools, which mostly involvesimersing employees into a built environment and observing them. From these observations, it can be argued that virtual reality can transform a work environment to make it beter and more appealing. Additionally, the most recurrent observation is that virtual reality is used in building immersive virtual spaces, including simulation exercises.

Current Application and Evidence

The theme of current application should be one of the easiest to study. The argument is that this is a more straight-forward and shows the areas in which the technology is deployed. However, some of the research results have been obtained after modifying the keywords to allow an exploration of some of the uses necessitated by the ongoing Covid-19 pandemic. For example, Sarkady, Neuburger, and Egger (2021) expresses that due to the health crisis, travel subsitituin in tourism has become a necessity for many desinations. It is important to highlight that travel substitution means that a virtial platform is used to offer tourisms a near-real experience ina built environment. The hardware and software tools are designed to create images and virtual experiences that mirror those of the real world. With these technologies, travelling becomes unnecessary, which should help overcome the travel bans implemented by governments in response to the health crisis (Sarkady, Neuburger, and Egger, 2021). Simulated rides are also part of these new opportunities in the tourism sector.

Other scholars have focused on some of the basic and immediate applications of virtual reality. In a non-pandemic context, safety in the construction sector has been explored by Moore and Gheisari (2019), who finds that virtual reality can help support the health and safety efforts in construction companies. Computer graphic simulation in the same context is a critical application, which is often embedded into computer aided design (CAD) tools. In the manufacturing sector, Javaid et al. (2020) finds that advanced digital and manufacturing technologies have been dveloped using virtual reality. Currently, robotics and automation have dominated literature on the technologies used in manufacturing (Javaid et al., 2020). However, increased use of virtual reality reality in certain applications, especially product design, means that certain aspects of manufacturing are changing. It is important to acknowledge that simulation exercises remain critical for the manufacturers who need to design both products and processes (Zhang et al., 2020).

Design collaboration and display design for devices are examples provided by Zhang et al. (2020). In essence, virtual reality can be perceived as a disruptive technology for many businesses.

Back to the aplications necessitated by Covid-19, virtual reality is becoming a norm in healthcare. According to Singh et al. (2020), patient treatment, diseas awareness, and simulation-based training have proven critical in the responses to the pandemic. The concept of telemedicine has emerged through the efforts of healthcare organizations to reduce the unecessary movements and trips to the hospitals. Therefor, patients can be treated after engaging with a physician in a built environment. Diagnoses and prescriptions can be made after these sessions without making physical contact. As a result, only critical cases can be referred to the hospitals, which helps free space in wards and intensive care units. Many of the responses to the pandemic have involved planning for the pandemic. As a novel healthcare problem, governments and the healthcare sytems have been forced to make certain preparations that require crtical planning. According to Javaid et al. (2020), virual reality has proven essential in mapping the spread and the efficacy of proposed responses. Additionally, training of responders and healthcare personnel on how to handle the pandemic and the patients is essential, which is facilitated by virual reality.

Case for Post-Covid-19

The case for post-Covid-19 is a theme that majorly explores which of the current applications are likely to persist even when the pandemic is gone. Some of the new applications can be expected to become a norm, especially if they offer greater efficiencies than the previous practices. For example, it can be argued that telemedicine will continue for the patients whose problem do not require physical contact with the physicians (Smits, Staal, and Van Goor,(2020). In this case, the practice may become permanent not only because it works well but also because people will prefer it to the traditional ones. According to Kim et al. (2021) the stay-at-home work, commonly referred to as remote working, will likely persist after the pandemic. The rationale given is that millennials are already showing a clear preference for this work arrangement as compared to the physical workplaces. Millennials are tech savvy, which mean that they are eager to embrace new technologies that offer them the advantage and efficiencies they seek (Kim et al., 2021). Work-life balance is important to this generation of workers. Therefore, remote working will continue after the pandemic to offer employees a favorable working experience.

Virtual tourism will also likely persist, especially if the businesses can attract new clientele. Tourism could be costly for some customers, especially due to travel and accommodation. International travel may resume but not all customers will be able to afford to visit international destinations. A new generation of tourists will likely emerge, especially those who acknowledge that the virtual environment offers a similar experience to the real tourism products (Atsiz, 2021; Kim et al., 2021). The continuous existence of virtual tourism destinations will depend on the ability of businesses to offer innovative virtual products.

Modern businesses are keen to achieve effective information management systems. Barnes (2020) expresses that virtual reality has crucial applications in information technology and management systems. Today, businesses perceive information as critical assets that can affect the success of businesses. Therefore, even if there lacks elaborate mechanisms and infrastructure for virtual reality in information management, it is argued that future developments will take place beyond the pandemic where virtual reality will offer better tools for the collection, processing, and utilization of information. Lastly, Onoda (2020) presents an example of how virtual reality can aid in waste management. The concept of smart waste management may be novel, but the future will be characterized by smart applications across all walks of human life. Currently, remote education, which is achieved through online classes is becoming a new norm, which is also expected to persist for a long time.

• What entrepreneurial opportunities are presented by virtual reality?
• Which virtual reality and remote work solutions did businesses during the COVID-19-pandemic period use?
• What will be the demand for virtual reality and remote work solutions among businesses during the post-COVID-19-pandemic period?”

Summary of Findings

The thematic analysis has resulted in four major themes: opportunities for virtual reality, work design and value improvement, current applications, and case for post-Covid-19. These themes have been derived from the research aims and they have helped answer the research questions. For example, the first theme addresses the first aim which seeks to identify the opportunities of virtual reality. In this case, it can be surmised that simulation and the building of immersive realities present the broad opportunities for virtual reality during and post-Covid-19. In other words, it is observable that many of the applications have involved the design and use of built environments, but in different contexts and areas. Therefore, the primary finding is that simulation through virtual platforms is the main entrepreneurship opportunity for businesses.

The second main finding revolves around how these opportunities are explored, which has been illustrated in workplace designs and applications for Covid-19 and post-Covid-19. Entrepreneurs seek to provide value in exchange for the rewards associated with entrepreneurship. Another perspective is that entrepreneurs seek to solve problems and receive a profit or revenue in the process. Therefore, the value offered to many organizations is that operations become smoother and more efficient such that firms make more money off they save on costs. Virtual reality offers both advantages where tourism businesses make money through virtual rides and other businesses. Additionally, the businesses also reduce development costs, especially those involved in checking design validity and product feasibility. In these areas, real prototypes are built in a process that can be costly. However, virtual designs and prototypes can be in the form of codes and programs that can be assessed, tested, and validated before the actual products built. Even after the pandemic, these applications are not expected to disappear and the opportunities will remain.

Another major finding concerns how post-pandemic business environment functions with virtual reality. In this case, it can be argued that there are applications that have been designed for the pandemic. For example, telemedicine and virtual patient treatment was developed for this purpose. Therefore, the end of the pandemic may mean an end to many practices as everything goes back to normal. However, entrepreneurs are interested in sustaining certain opportunities because the benefits can persist. Using the same telemedicine example, healthcare organizations will only continue to use it as long as the cost savings and operational efficiencies are sustained. However, one of the key aspects is remote working where the pandemic has seen a greater utilization of these working arrangements. With millennials increasingly dominating many workplaces, it can only be argued that remote working will continue into the future. Remote working and its possibilities and opportunities were explored even before the pandemic. The pandemic has only increased the pace of the relevant developments. The pace is not likely to slow down or halt, which means that virtual workspaces will become a new norm after the pandemic.

Conclusion

Conclusion

The current research has been designed and conducted to establish what companies can do to exploit the capabilities offered by virtual reality. In other words, the research has explored the entrepreneurial opportunities for virtual reality with a particular interest in remote working arrangements. The findings obtained have largely mirrored the current literature on the subject, majorly because the literature materials were primarily used as sources of secondary data. Therefore, it can be seen that the research has summed up the key observations into four themes, from which major conclusions are drawn. Firstly, virtual reality may have a wide array of applications in modern businesses. However, the basic idea has remained the creation of an immersive virtual environment that represents the real-life objects.

Secondly, most of the applications and opportunities lie with simulation, including in such applications as product design, process design, and product feasibility assessments. In other contexts, virtual environments are useful for meaningful interactions, including telemedicine that eliminates the need for physical visits. Third, some of the current applications hint at future opportunities because novel practices may persist after the pandemic. Lastly, the case for post-Covid-19 id dictated by the current developments in the application of virtual reality. Information management is growing rapidly, which means new uses of virtual reality will emerge. However, some of the applications intended to address the Covid-19 pandemic have proven useful, including online classes and remote working. After the crisis, these areas of application present businesses with critical and potentially lucrative business opportunities.

Practical Implications and Recommendations

Entrepreneurs seek to find solutions to problems and offer products that have value for their customers. Alternatively, they can create new products and services and get people to consume them because of the value they offer. In this case, virtual reality is a technological development that remains novels because many companies lack either the necessary technical knowledge or the ability to create value form it. During the pandemic, the value of virtual reality has incredibly manifested itself alongside other technologies mostly used, for example, Zoom for online classes. The fact that virtual reality can create immersive environments with greater use experience means that entrepreneurs can build on the experiences of consumers with the available technologies. It can be argued that critical gaps have appeared because some of the technologies offered only basic solutions without great user experiences. Virtual reality can be disruptive because it can change all aspects of remote interactions between people. Currently, consumers may still be looking for the best offers in the market, which means that urgent actions are needed in the development of virtual reality applications.

Limitations

The major limitation of this research is that it uses secondary data sources, which means that it could only summarize the current findings from primary and secondary studies. It can be argued that there are massive developments in the application of virtual reality currently progressing as businesses find solutions to challenged posed by the pandemic. These efforts could have been better outlined through the collection of primary data. Therefore, it means that the current study is limited in terms of scope that could have affected the quality and generalizability of the findings. There is limited knowledge on the most recent developments, which means that further exploration should focus more on primary data to address the most recent developments.

Self-Reflection

Entrepreneurship studies are critical in informing learners what to expect in the real world, especially regarding the identification of entrepreneurial opportunities. This research has been a great opportunity to utilize the skilled learned throughout the course. The main aim of the research was to think like an entrepreneur and to critically appraise emerging gaps in the market. In this case, the pandemic has been a crisis and an avenue for vast innovations in businesses. for example, learning was halted, and the education sector developed online classes, for example Zoom. With this development, the potential of similar applications has risen to cover such industries as tourism and healthcare. This research finds that the are many more areas of application of virtual reality, a technology that can offer far better products and experiences for the users. If I think like an entrepreneur, this can give me answers on what to do even after the pandemic. One of the main observations was that there is a growing tendency towards smart technologies, which means entrepreneurs should look to find gaps within these applications and offer the necessary products to plug them.

The entire research went well, mainly because sources on the various themes were readily available. The availability of recent materials and studies meant that the most current trends are observable and future projections are possible, which can be labelled as the major strength of the undertaking. One of the things that may not have gone well is the fact that there was no primary data to serve as evidence of the current trends, especially those that may be yet to appear in published materials. Therefore, this can be perceived as a weakness of the research whose focus was an exploration of the most recent applications of virtual reality technologies. Much of the findings from the research are transferable to the workplace. For example, virtual reality in remote working can be achieved through applications similar to Zoom for corporate meetings and demonstrations for product development. Therefore, I have answered all the research questions that I developed for the research.

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Introduction

The team identified a unique idea of developing a stand-up comedy virtual reality (VR) platform for Qatar tourism. The detailed market research that was conducted revealed that many people were bored and stressed, forced to spend most of their time in the house. The need to maintain social distance meant that physical interaction was limited. The product was designed to address these specific challenges that people in Qatar have been facing during this time of the pandemic. When developing this idea, some major challenges were encountered that threatened the ability to develop it into a commercial product. Choosing the right number of avatars, customization of the product, and pricing the product were the three major challenges that were faced in this project. The team had to develop effective ways of addressing these challenges to make this project a success. In this report, the researcher discusses these specific challenges and how they were effectively managed.

Description: The Nature of the Challenge

When developing this idea, the team went through a learning experience that can effectively be described using Gibbs’ reflective cycle. In this model, shown in figure 1 below, the first step is to describe what happened (Eriksson, Bigi and Bonera, 2020). The description will help in understanding the nature of the challenge. The team had to come up with a concept that solved a specific problem, met the needs of a specific population, and could easily be pitched to a client as a commercially viable idea. Based on these factors, several challenges emerged in the development stage.

The first challenge was defining the number of avatars in the VR. The number of avatars had to be large enough to create the feeling of a real-life effect while at the same time fitting in the room created comfortably. Some team members felt that as many as 200 avatars would be appropriate, while others argued that a realistic number would be 50. It took a considerably long time to reach a consensus on this issue. Members had to factor in the size of the creation, the ease of movement of avatars, and the reasonable distance from one avatar to another. Finally, team members agreed that 100 avatars were realistic enough for the platform created.

The second challenge that emerged in the development stage was the customization of the platform. The targeted clients have unique needs that cannot be easily met using a single item. Some viewers prefer local stand-up comedians, while others prefer those from the region or in foreign countries. The content of the message passed through these comedies also varies and meet the need of people in different ways. As such, customization was considered necessary when developing the product (Morgan et al., 2019). The team had to find unique ways of meeting the diversified needs of the targeted customers in terms of the content available on the platform.

The third challenge that was experienced was how to price the product in a way that would attract a large number of customers while at the same time creating sustainable profits for the business. Jeffery, Jarvis, and Word-Allen (2018) note that some of the most common strategies include penetration, discounted, premium, competitive, and economy pricing. Some team members felt that it was appropriate to use premium pricing as a way of demonstrating the high value of the product. Others suggested the use of competitive pricing, while some members felt that the appropriate strategy would be discounted pricing to encourage sales. The team finally agreed to settle on economy pricing after taking into consideration various factors. It was considered the most appropriate as it would be affordable for both the locals and visitors in the country with low purchasing power.

Feelings and Thoughts

When using this reflective cycle, the next step that one should consider is their feelings and thoughts. When developing this new product, the team felt that there was an urgent need for entertainment services in Qatar. Like many other countries around the world, it was significantly affected by the effects of COVID-19 (Harkness, 2020). Many people were forced to spend most of their time in the house, with very limited interactions with other members of society. The team felt that it was necessary to develop products that would effectively meet the diversified needs of customers. It was at this stage that the challenge of meeting the specific needs of customers emerged during the customization face. The team felt that while taking into consideration factors such as religious beliefs and practices, it was equally important not to ignore the diversity in the country. According to a study by Harkness (2020), expatriates account for 88% of the population in Qatar, with Indians numbering over 1.2 million. It was important to ensure that the developed products met everyone’s expectations.

There was a thought that this product could be used beyond the tourism sector. Although the primary target of the product at the development stage was the tourism sector, the team felt that it could be used for general entertainment among people living in this country. It was at this stage of trying to define the specific industry and audiences to target that the challenge of the number of avatars emerged. In large stadiums and theaters, the population of the audience can be as large as 60,000 people. On the other hand, small theaters can hold a limited audience of 50 people. The team agreed that the size of the rooms and the number of avatars had to be the same. It was felt that such a form of standardization was necessary to make the product unique, even though the content was customized to meet a wide range of needs. The team was keen to accommodate the ideas of its members. Debate helped in the screening of the different ideas and views of members.

Evaluation

The team’s experience, especially when faced with the challenges identified above, had a positive and negative impact. One of the good things about the experience is that it enhanced our problem-solving skills. The three issues threatened to split the team and delay the project as members believed that their proposed solutions were the best. However, the reason was able to prevail and members agreed to discuss each of the proposals. Those that emerged as being the most viable ones were selected.

The experience enhanced the bond among the team members who undertook the project. As problems emerged when developing the idea, team members realized the significance of working as a unit. At first, there was a competition, with each member trying to ensure that their ideas prevailed. Along the way, members developed a unique approach of proposing random solutions and then discussing each in detail. The approach strengthened the bond among team members. It led to the realization that ideas can be improved with the input of different members taken into consideration.

Team members learned how to use their strengths to help colleagues overcome their weaknesses. When addressing the challenge of pricing, a section of the members based their proposed solutions on beliefs as opposed to economic facts. Financial experts in the team needed to conduct calculations and prove to members how specific pricing would ensure that the organization earned a profit. The other members of the team, who are marketing experts, were able to conduct a market forecast and determine what needed to be done to attract and retain the targeted clients. This approach made it possible to develop wholesome ideas that took into consideration marketing, financial, legal, logistical, and procurement issues.

The experience also revealed negative factors that should be addressed in the future when undertaking similar projects. One major challenge was racial insensitivity among a section of the team members. Qatar is a predominantly Islamic nation, just like most of the nations within the Middle East and North Africa (MENA) region. However, it is prudent to take into consideration that the country is one of the most diversified nations in the world because of its large population of foreign workers. As such, it is essential to ensure that when making a decision, the diversity of the country should not be ignored (Amelia, Salamah, and Sofyan, 2019). Some of the members proposed strategies that largely ignored the presence of these foreigners.

Analysis: How the Team Addressed the Challenge

The team encountered various challenges when finalizing the idea and creating a pitch on the stand-up comedy VR platform, three of which have been identified in this report. Determining the right number of avatars was the first challenge. The team solved this problem by reviewing similar products in the market and assessing the targeted audience’s needs. During the discussion, some of the factors considered were the size of common stand-up comedy halls in the country frequented by the residence, the need to create enough space for each avatar as a way of making the user comfortable, the general physical appeal of the VR room, and diversity factors that reflect the actual composition of this country and how popular social gatherings often look like. Based on these factors, the team settled on 100 avatars as the most appropriate number.

Customization of the product was the other major challenge that the team encountered when developing the idea. As mentioned above, some members had initially ignored the diversity in the country, proposing solutions that did not meet the expectations and demands of the entire population. This challenge was addressed through lengthy discussions among members. Using constructive criticism, members were able to identify the weaknesses of some of the proposals and explain why they would affect the popularity of the products. They then discussed an alternative solution that would customize the product as much as possible while at the same time reflecting the diversity in the country. The team was able to not only customize the products but to ensure that they are adjustable in case one would want to adjust them accordingly.

Pricing of the product was the third challenge that the team had to address when the idea had been fully developed into a product. The team wanted a pricing strategy that will not only attract a large pool of customers but also express the product’s high value. Because of the sharp differences that emerged among members, it was agreed that financial experts had to help in making the right decision. It was agreed that the decision had to take into consideration the ability of the firm to make profits while at the same time attracting as many clients as possible because of its affordability. Team members accepted the decision that was based on financial calculations.

What We Learned: Impact of the Challenge on Business Idea and Prospects

The challenges we faced provided important lessons and had a major impact on the business idea and business prospects. One of the fundamental lessons learned from the challenges was that earning small profits from a large sales volume is more economically viable than earning large profits from a small sales volume. As Olson et al. (2018) observe, the ability of a firm to succeed depends on its ability to attract and retain customers. The problem is that the process of attracting and retaining customers may require a firm to make sacrifices for its profitability. For a team that is futuristic and concerned about sustainability, the team learned that it is worth lowering profits. Companies such as Wal-Mart achieved massive success because of the same strategy of using economy pricing strategy to attract as many customers as possible. Although the strategy had initially been rejected by a section of the customers, everyone finally agreed with the fact that it was the most sustainable approach. It would enhance the sustainability of the business idea and its prospects in the market once it is launched.

The team members learned the significance of having a diversified management unit when making decisions. It is common to find cases where people prefer being in a team with others who share the same gender, race, religion, or other demographical factors (Vieira et al., 2019). Members of these teams were highly diversified in terms of gender, race, and religious beliefs. It explains why in the initial stages of addressing the above challenges, there were major differences. As it later emerged, diversity was important in understanding these problems from a different perspective. It created a major impact on the business idea as the team members agreed that future projects should reflect the diversity of society to find reasonable solutions.

The process of solving these solutions also demonstrates to the team members the significance of conducting research. One of the challenges that investors face is the general assumption that what they need is similar to the expectations of the market. As such, they design their products based on their personal views. When solving these problems, the team had to conduct research to find evidence-based solutions. The strategy had a major impact on the business idea and how it should be implemented. It emerged that when faced with a challenge, it is essential to conduct research instead of basing decisions on personal beliefs and unfounded opinions.

Action Plan: How to Approach Each Stage Differently

The team was able to address the challenges that were identified effectively and the proposed solutions were acceptable. However, it is possible to take different action plans when solving the identified problems. When addressing the challenge of the right number of avatars, the team decided to have a standard number of 100 items. However, it does not mean that the model is the only one that is appropriate. In the future, it is possible to have a system with a varying number of avatars. Some people prefer a larger audience close to one another as is always the case in large halls. Such a large crowd will be specifically reliable at such a time when some people are forced to quarantine because of the virus. It may also be necessary to have a system with a smaller number of avatars for clients who like small and quiet audiences in such entertainment programs. The goal will be to meet the diversified needs of customers in the country.

The second challenge involved the customization of the product to meet the specific needs of clients. In the future, this problem will be solved in a way that is different from the one proposed above. The solution will involve conducting detailed market research about the issue. Katsikeas, Leonidou, and Zeriti (2020) argue that although market research may take time to complete, it is one of the most effective ways of understanding and addressing the needs of customers. The team will take time to understand customers’ needs. This strategy will make it possible to segment the market based on these specific needs. Once the market is segmented, products will be developed to address those specific needs in the segment. Instead of developing a universal product, the team can develop three or more products for each of the segments identified. This action play may require more financing than was the case when only one product was developed.

Pricing of the product emerged as another issue, and as was explained, the team settled on economy pricing. However, that does not mean it is the most effective pricing strategy that should be observed in future products. The team can consider alternative pricing products most suitable for the products based on the changes introduced. As mentioned above, segmentation will be considered in future action plans. Each segment may have its unique pricing based on the purchasing power of the customers. It means that some of the products will have premium pricing, others will embrace competitive pricing, and others will retain the economy pricing. This new strategy will ensure that the company gets maximum profits from its products while at the same time covering a large segment of the market.

Conclusion and Reflection on the Learning

When finalizing the idea and creating a pitch on the stand-up comedy VR platform for Qatar tourism, various challenges emerged that had to be addressed to ensure that the intended goal was realized. The first challenge was selecting the right number of avatars for the platform. After a debate and a review of forces in the industry, it was decided that the most appropriate number of avatars would be 100. This number was selected based on industry standards and the need to create a feeling of comfort among the clients when using this product. However, the analysis shows that it is possible to adjust the number accordingly in future products when necessary.

The report also shows that the customization of the product was another issue. Qatar is a demographically diversified country because of the high number of economic migrants. After deliberations, the team agreed to make the system as diversified in its offering as possible. It included the content of local comedians and those from neighboring countries. Content from some international stand-up comedians was also included to meet the needs of the diversified customers. In the future, it will be necessary to develop products for different segments. The third challenge is the pricing of the product that was made available for customers. Economy pricing was used because of the need to penetrate the market. However, the marketing team must segment the market, develop products unique to each segment, and then develop pricing based on the purchasing capacity and requirements in each segment.

The most important part of this assignment was addressing challenges that elicited different views among the team members. When undertaking this project, issues about diversity affected the decision that members made. It also emerged that some members were oblivious of the level of diversity in the country. Through this study, they were able to learn about the significance of understanding diversity and providing relevant products. Members learned to solve problems through debates as opposed to taking hard stances. They realized that although they may have superior ideas, the discussion makes it possible to understand the views of others and to improve on those that one has. The team also learned about the importance of conducting research, especially when addressing a problem that may raise controversy or disagreement among members.

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