Discuss About The Strategies Augmented Reality Virtual Reality?
Any business without a well-set strategies including aims, goals, and objectives may not do that well as compared to those with the may elaborated strategies both for the short term and long term. In this report, we will critically analyze the mission, goal, vision, and objectives that any business needs to put in place to ensure that they succeed in both long term and short term. We will also discuss the short-term strategies for Minimum Viable Product (MVP) and some of the cost Benefit analysis (Davido, 2013). The significant importance of this report is to analyze the technology advancement in starting and managing business to help compete with other existing ones effectively
Before starting any business industry, the founders need to evaluate accurately on the strategies to help make them make their business prosper.
A mission designates the organization's straightforward function in society, in terms of the products and services it produces for its customers. Having the strategies will ensure a business highly perfume and avoids failure of any business which is still an infant (Bos, 2004). The mission should be highly concise, inclusive and outcome –oriented. Some of the mission for short-term strategies may include the following;
The vision of employing the short term business strategy is actually the dream for the business in the society (Christophuos, 2012). Through developing a vision statement, the organization makes the beliefs and governing principle of the organization clear to higher society, participants, volunteers and even the own staffs. Some of these visions include;
After an organization has developed its mission, the next step is to come up with the objectives which will actually focused on realizing the mission (Davido, 2013). Some of these objectives include;
Goals are more related to the objectives, the company needs to set clearly these goals to enable the industry start and operate effectively. Some of the short-term goals for this industry may include
Strategies help the newly developed industry to operate effectively, these strategies are just the guideline in which the company will operate upon. Some of the short-term strategies for Minimum Viable Product (MVP) are discussed below (Edward, 2013);
The validation of short-term strategies includes some of the experimental hypothesis employed to ensure the successful operation of the new started industry. This hypothetic approach includes the following;
This will entails understanding the problem the client is faced with (Gerald, 2015).
MVP is a real product which attempts to deliver real value to customers, in most cases, this does not have to be a software app.
This is a technique which is employed to compare the total cost within the industry's benefits with the help of common metrics. This will enable the calculation of the benefit associated with the program or even the calculation of the net cost. This technique is employed more often at the start of the program of starting the business organization (industry). It can be employed to evaluate the general effect of the program in quantifiable and monetized terms (Giovanni, 2013). This program includes the following steps;
These selected strategies moreover represent the maximum set of architectural investments. They are maximum based on consideration of cost, schedule, and benefit.
Long-term strategies are those which are set aside by the industry to enable the industry to operate effectively and these need to be achieved after a long period of time. The goals, objectives and even the mission and vision are set for the industry after a long period of time.
These are the missions which are set aside for the business for a long period of time, just as in short term, the missions designate the organization's straightforward function in society, in terms of the products and services it produces for its customers (Hart, 2011). Long-term mission may include the following;
The vision of the long-term business strategy is actually the dream for the business in the long-term operation of any business based industry. For the long-term, these visions may be the following,
These are the desired results or even possible outcomes that a business organization anticipates to realize over a long period of time. It is the organizational desired endpoint in many presumed development (Hiroshi, 2015). Some of these long-term goals which our industry need to realize are fully illustrated below;
These are like aims of the business which the company is looking into over a long period of time. These objectives are set to make the business company operates effectively. It is not obvious that these objectives are met but they act as guidelines to enable the organization operates perfectly. Some of the long-term objective for this organization may include the following;
The strategies and tactics employed in long-term are similar to those employed in short terms. Strategies help the newly developed industry to operate effectively, these strategies are just the guideline in which the company will operate upon. Some of the long-term strategies for Minimum Viable Product (MVP) are discussed below (Edward, 2013);
The hypothesis of the experiment which was applied for this part is similar to those of short-term hence, the validation of short-term strategies includes some of the experimental hypothesis employed to ensure the successful operation of new started industry (Sharon, 2011). This hypothetic approach includes the following;
This will entails understanding the problem the client is faced with.
Just like the short term, in long-term, CBA is a technique which is employed to compare the total cost within the industry's benefits with the help of common metrics (jamleck, 2011). This will enable the calculation of the benefit associated with the program or even the calculation of the net cost. There are some given key parameters that which prevail for this analysis. There is five basic procedure to undertake a cost-benefit analysis. These include;
And while performing this long-term CBA, the following are some of the cost and benefits which should be taken into account;
Product roadmap and minimal viable product for Virtual Reality
The Product roadmap and minimal viable product for Virtual Reality can be best understood as put on the below points.
As appealing it could be to pitch virtual reality as a solution, hence the company needs to finance fathom what the problem the company will have to solve just by setting up their structure and their operations. For instance, we consider the use of virtual reality the company, it may sense to take a considerable time to interview the general public (Thomson, 2015). There is a niche in the general public in which the VR will help to handle difficult problems where the public (clients) may be faced with the problem of obtaining the goods and services which created gaps for this company.
VR in some cases seem as a probable space to generate MVP’s and if we take an example of times just afore Cardboard we had the genesis for the whole Lean Startup movement originate from MVP’s.
The company will have to be willing to pivot the result which will help the virtual reality space, like the platforms and marketplaces. The company may still contribute to the virtual reality public in a significant method without the expenditure of all the company finance on tech which is swiftly made outdated (Tomas, 2011).
Product roadmap and minimal viable product for Augmented Reality overlaps the Information onto the ideal world. From the technical view, many technologies may emerge in some cases with social media which greatly help for advertising the company where the company will meet most audience and clients. Augmented Reality does not require any additional equipment. With the augmented reality through the social media, the general public has a thought of lack of experiencing ideas but they learn as well as of understanding and progress due to the ways which interact within the forces of the market. With the both AR and VR, the product set by the newly started company will have to meet its clients and customers. This will make the company compete with its competitor effectively.
Technology is evolving at a higher rate, particularly in augmented reality and virtual reality. The company desires to provide exclusive value in the area of the Virtual reality and augmented reality based on the company’s breadth and depth technical expertise. The company is as well interested in collaborating with other organizations. The AR and VR standards can be grouped where each focus on several areas of critical work and these includes;
For a newly established company which will mostly focus on realizing the profit, there is a need for setting clear objectives, aims, goals, missions, vision and even the strategies for both in the short term and long term (Mathew, 2014). These will ensure that the company succeeds in the business by effectively compete with other established firms. Hence, it is highly recommended too highly adopt the Augmented and Virtual reality techniques as well as the CBA (Cost Benefit Analysis) techniques. All these will ensure that the newly established will have short-term objectives and the strategies which help to meet them and also the same for the realization of the long-term objectives. As an infant company, it will not be able to effectively compete with other newly established company. However, when the above strategies are put in place then they in some cases can even outdo the newly established company, that is to say, the new company will do very well in the market with the strategies put in place.
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