IDEAS home Printed from https://ideas.repec.org/a/bal/3seasj/2661-515020223115.html
   My bibliography  Save this article

Virtual And Accessible Reality Technologies In The Trends Of Modern Enterprise Competitiveness

Author

Listed:
  • Olena Martyniuk

    (Odessa National Medical University, Ukraine)

  • Illia Korolov

    (International Humanitarian University, Ukraine)

Abstract

In today's dynamic business environment, any business organization strives to maintain its own competitive advantage in the market. Therefore, each company develops and implements methods that allow not only to maintain a stable position, but also to develop and increase the scale of activities in a particular area. Such methods include various innovative solutions, attraction of highly qualified personnel, improvement of management system, changes in technological processes in production and many other things. Recently, however, so-called virtual reality technologies (VR-technologies) have become increasingly popular among companies. They are becoming increasingly important due to the rapid development of information and communication and digital technologies, which greatly facilitate and diversify the lives of most people and organizations. Virtual reality technology is slowly entering the workplace and is used in many fields such as medicine, construction and design, automotive, military, logistics, architecture and design, education, sports, engineering, design, tourism, and more. The main advantage of such technologies is the possibility of complete immersion into the created reality, additionally acquired ability to feel and analyze both positive aspects and negative consequences of planned actions, as well as to simulate options for future events. Therefore, the use of modern VR technologies by more and more organizations plays an important role in the development of their competitiveness. According to scientists and practitioners, the benefits of using such technologies are, first, to create added value for consumers through a new set of skills and knowledge; second, to give the organization a virtual competitive advantage; third, the achievement by the company of greater flexibility, dynamism and persuasiveness when using virtual reality to demonstrate its product (for example, to disassemble and assemble its own products in order to explain the internal mechanism or something else); fourth, reducing the duration of the production process, which uses VR technology; fifth, reducing costs and increasing profits for the organization by optimizing processes, which will save resources and time, and others. The aim of this publication is to investigate the main theoretical and practical aspects of virtualization of organizations, in particular, the impact of VR-technologies on their competitiveness, to analyze foreign experience in the use of virtual technologies in business and to summarize proposals for competitive advantage based on virtual reality technologies.

Suggested Citation

  • Olena Martyniuk & Illia Korolov, 2022. "Virtual And Accessible Reality Technologies In The Trends Of Modern Enterprise Competitiveness," Three Seas Economic Journal, Publishing house "Baltija Publishing", vol. 3(1).
  • Handle: RePEc:bal:3seasj:2661-5150:2022:3:1:15
    DOI: 10.30525/2661-5150/2022-1-15
    as

    Download full text from publisher

    File URL: http://www.baltijapublishing.lv/index.php/threeseas/article/view/1635/1654
    Download Restriction: no

    File URL: http://www.baltijapublishing.lv/index.php/threeseas/article/view/1635
    Download Restriction: no

    File URL: https://libkey.io/10.30525/2661-5150/2022-1-15?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Virtual reality; augmented reality; digitalization trends; VR-technologies; BTL-marketing; 2 GR; USDZ;
    All these keywords.

    JEL classification:

    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bal:3seasj:2661-5150:2022:3:1:15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anita Jankovska (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.