Digitization of Business; Need for Recombination During COVID-19

Ngoc-Vinh, Nguyen; Tien-Dung, Pham; Das, Subhankar

doi:10.1007/978-981-19-2173-5_1

Cited by 15 publications

(2 citation statements)

References 28 publications

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“…This can change the way people think about the environment and how they behave in real life. Using circular opportunities, companies can create new business models that can attract new customers and foster loyalty (Ngoc-Vinh et al, 2022). The increasing number of direct-to-consumer brands that have partnered with non-fungible token (NFT) shows that there is a compelling case for the circular economy (Nguyen et al, 2022).…”

Section: Opportunitiesmentioning

confidence: 99%

What Can we See Inside the Crystal Ball? Exploring Opportunities and Challenges for Metaverse and Circular Economy

Das,

Mondal,

Struck

et al. 2023

Acad. J. Interdiscip. Stud.

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Metaverse is a virtual world that offers endless possibilities for entertainment, education, and social interaction. Whereas circular economy deals with the principle of reduce, reuse, and recycle which helps in waste elimination and boost continuous resource availability. However, there are challenges to promoting a circular economy in the metaverse. One of the challenges is ensuring that everyone has access to it, as there is still a digital divide. Additionally, it is challenging to track the lifecycle of virtual products and ensure they are properly recycled or reused. Finally, it is necessary to coordinate virtual and real-world initiatives to create a comprehensive circular economy system. Despite these challenges, many opportunities exist for promoting a circular economy in the metaverse. One opportunity is creating virtual marketplaces for second-hand goods. Another opportunity is using virtual reality to simulate the environmental impact of different products and production methods. Finally, researchers can develop virtual training and certification programs for sustainable practices in the metaverse. The challenges that need to be resolved to create a sustainable future for both the real and metaverse are discussed here. Overall, the implications of using the metaverse for the circular economy are promising but require careful consideration and collaboration between virtual and real-world efforts. Researchers can contribute to the development of a more equitable and sustainable future by understanding these concepts. Received: 29 July 2023 / Accepted: 12 October 2023 / Published: 5 November 2023

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Section: Opportunitiesmentioning

confidence: 99%

What Can we See Inside the Crystal Ball? Exploring Opportunities and Challenges for Metaverse and Circular Economy

Das,

Mondal,

Struck

et al. 2023

Acad. J. Interdiscip. Stud.

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show abstract

“…These days, a strong connection between business and the art of digital sustainable entrepreneurship has arisen [1]. Identifying key-factors and deploying strategies for a transition to digital entrepreneurship brings real advantages in terms of surveillance on a highly competitive, ever-growing market [2,3]. Whether a company has a digital portfolio of products and services or not, it must take actions to operate by using digital media to position itself on the consumer perceptual map [4].…”

Section: Introductionmentioning

confidence: 99%

Decoding Business Potential for Digital Sustainable Entrepreneurship: What Romanian Entrepreneurs Think and Do for the Future

et al. 2022

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The digital environment and the businesses can no longer exist separately; the way in which entrepreneurs adapt to digital environments determines the future of the companies. By aiming to understand Romanian entrepreneurs’ openness and the assets disposed for digitalisation, the authors performed a study which revealed different managerial approaches used in order to achieve digital entrepreneurial sustainability. With exploratory research, they (i) identified the strategic approaches of the businesses within the digital environment, (ii) analysed the importance of strategic objectives and the entrepreneurial vision, (iii) understood the long-term strategies and the costs of digitalisation, and (iv) analysed the future of the business in terms of cyber security. The study highlighted that no Romanian entrepreneur placed digitalisation as an independent objective for its company, showing that companies needed a proper digitalisation strategy correlated to the opportunities and threats of the business environment. Moreover, the Romanian entrepreneurs’ knowledge in cyber security was low even though they were aware that it was imperative to control critical information and develop data security strategy so as to avoid data theft/loss in the company. All the findings favoured conceptualising a new Digital Sustainable Entrepreneurship Model based on owners’ entrepreneurial visions and companies’ strategic objectives alike, a guide-framework to remain competitive in a sustainable, ever-growing market.

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Digital Solution for Industry 4.0 and 5.0 and Social Media

Mondal

Das

2023

Digital Entertainment as Next Evolution in Service Sector

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Digitization of Business; Need for Recombination During COVID-19

Cited by 15 publications

References 28 publications

What Can we See Inside the Crystal Ball? Exploring Opportunities and Challenges for Metaverse and Circular Economy

What Can we See Inside the Crystal Ball? Exploring Opportunities and Challenges for Metaverse and Circular Economy

Decoding Business Potential for Digital Sustainable Entrepreneurship: What Romanian Entrepreneurs Think and Do for the Future

Digital Solution for Industry 4.0 and 5.0 and Social Media

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