Virtual and augmented reality in business education : an investigation of use cases, opportunities, and gaps

Abstract

This case study investigates the effective implementation of Virtual Reality (VR) and Augmented Reality (AR) in business education, focusing on their opportunities, challenges, and existing practices across four business schools: INSEAD, NEOMA, IE University, and Tuck School of Business. Key findings include enhanced student engagement, development of soft and leadership skills, and safe, controlled learning environments. VR/AR also improve resource efficiency and enable personalized, data-driven learning. However, challenges such as high implementation costs, content creation complexity, and health concerns like motion sickness persist. Ethical issues, particularly data privacy, require further attention. The study underscores the need for integrating VR/AR with pedagogical frameworks and goals and recommends future research on VR/AR's effectiveness across diverse educational contexts, strategies to overcome student resistance, and addressing equity and access issues. This case study aligns with Kolb's experiential learning theory, emphasizing VR/AR’s potential to revolutionize business education while acknowledging existing gaps and challenges.