Impact of Novel Technologies for Business Excellence: A Case Study on Metaverse
Subject Areas : Business Management
1
*
,
Ramaprasad MV
2
,
Saisree Mangu
3
,
Vishwanadh Raju
4
1 -
2 - GSBB
3 - Gitam University
4 - H.No- 788, 1st Floor, 17th Cross,
5th Main, 5th Block, HMT Layout, Vidyaranyapura
Keywords: Metaverse, Novel Technology, Business Continuity, Sustainability, Data Analysis,
Abstract :
Business excellence banks on the strategical approach for its growth, even in critical times. COVID-19 has created a challenging environment and enforced to explore novel methods for business sustainability. In this scenario it has become prime factor to engage futuristic technologies as part of the business model. Metaverse is an evolving technology across globe, which promises higher return on investments (ROI) while offering state-of-the-art facilities to customers. It is found, during a study about impact of Metaverse as novel technology and how it can impact the life of human beings. The study also included to assess the business opportunities for developers and investors apart from benefit to the users. The research highlights the factors influencing future of Metaverse and prediction about its full pledged implementation in the industries. It is to state that the study covered across the globe and India for the responses with a spread over different age groups and knowledge levels about the future technology. The responses show that such novel technologies need to made available at affordable price and lot of awareness to be created among the users for better impact and utilisation. This paper presents the diversity of data collection, responses, analysis and summarises the prediction of Metaverse as business opportunity with time lines.
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