Assessment 3: Business Report on VRVD Training Idea Selection

This report, prepared for Assessment 3, explores the feasibility and business model of a virtual reality video (VRVD) based employee training program. The report begins with an introduction to the concept and discusses the idea selection process, emphasizing the benefits of VRVD over traditional training methods. It then evaluates the VRVD idea based on outcomes, feasibility, costs, and skills analysis. The report also presents a revised business model, highlighting the positive aspects such as cost-effectiveness and accessibility, while acknowledging potential disadvantages like limited access. Idea improvements are suggested to enhance the model's success. The report also includes a cost analysis comparing VRVD with live training, along with cash flow projections for the first two years, considering best and worst-case scenarios. The report concludes by emphasizing the potential of VRVD to revolutionize employee training across various industries, while also addressing potential risks such as competition.

INTRODUCTION
Business Organizations are constantly coming up with new ideas as per the latest market trends
to secure a fair place in the real competitive world. Organizations, involved in every sector, be it
Information Technology, be it Marketing, Finance, Export & Import Shipping Companies, or any
other region are progressing each day with the emergence of latest technologies and also the
progress of science education which focuses, both on reality and virtuality. Similarly, virtual
training is the idea of creating a virtual environment for the trainees to grasp the things in an
even better and focused way. It includes the training programme with the help of recorded
videos. The whole idea of VRVD that is Virtual Reality Videos Discussion is to modify and
make positive changes in the present training system for the employees which have grown to be
far more feasible than the real training sessions.
DISCUSSION ON IDEA SELECTION
Incorporation of the VRVD training requires a lot of focus from both the ends of any
organization, as in, both employers and employees should have a very good knowledge of the
entire process for imparting the best training to the entire organization crew. Normally, what
happens currently is live training sessions are organized for the new trainees and employees,
which are if trusted, are very less feasible, since the new entrants are not well versed with the
employers to count question him or her, neither are they well known to each other so they are
generally not also able to solve the query amongst themselves. Hence, there is the need of this
VRVD sessions, which definitely will create huge awareness about the current technologies and
developments in the company which is to be focused for the prosperity of the business
organization.

Next, if calculated properly, the reality based training system, that is configured with proper
training managers to impart the correct information regarding the job and also the work
discussion. This system also requires the physical handling of large machines and plans.
IDEA EVALUATION
Key Priority Ideas Based on the evaluation techniques are :
● Outcome of Process: The outcome of the existing and proposed model should be
evaluated in such a way to decide on its current and proposed obligations for the
enhancement of the organization.
● Feasibility: your idea should be well matching with the business requirements to make it
more evident to the end-users and employees and also to decide on its implication plan.
● Costs Associated: The proposed training ideas for the betterment of the business
organization should be first evaluated on the basis of its incidental costs to find out the
correct spendings and the assumed earnings from the same.
● Skills Analysis: The proposal idea must be considering all the analytical skills required
for its success and viability in both the short term and long term projections.

● Others: Other criterias such as the hardware and software systems to be used, moral
employees to be hired, the training space, etc must be accounted in order to decide
whether the idea should be proposed or not.
The Virtuality based video training system is found to be highly feasible when surveyed about its
benefits and flaws, as these are nothing but the two sides of a coin. This kind of training system
is made possible only with the high end uses of the computer systems and internet, which have
introduced many technological advancements since the time it has emerged. These days
professional training institutes have also diverted to this video training system to improve on
their skills. The faculty is made to take the demo classes for each subject and their lectures are
then recorded for future reference. This way has made the things less clumsy and easier for the
students as they can finish off with their lectures in their own convenient zone, without the hassle
of travelling all the way to the tuition center and hence enables them to save a lot of time.("5
Questions About Virtual Training - eLearning Industry", 2019)
REVISED KEY BUSINESS MODEL
The virtual training, if made available for the employees in most of the organizations would help
to curtail lot of recurrence costs might be incurred by the business model, that is the expense of
organizing the live training sessions each time for the new entrants in the business model. Let's
analyse below the few of the areas of the VRVD training programmes which illustrates the
positive and negative aspects of the system.
The Positive Aspects of the VRVD sessions:

● The system requires very less space to adjust individual system for all the employees,
instead it only has to set up a projector for delivering the trainings to everybody. Also it
can invite large number of trainees at a time.
● Trainees can take the benefit by attending such training programme with several
illustrative practical examples instead of listening to those long boring sessions.(Takac et
al., 2019)
● The proposed system requires less number of employer members to discuss about the
training topics as all the material required for training is already given in the form of
video recording. Hence employers can manage this saved time wisely and finish off with
his or her own work.
The Disadvantages associated with the VRVD sessions are:
● Difficult to access: Virtual Video training sessions might restrict the access to those
employees who can fairly access the frequent use of computers and have unlimited access
to the internet. This might be a partial treatment with the ones who are even more sincere
and willing to work but do not have access due to this limitation.
● Hindrance to Learning: This VRVD training session has no doubts large pros than
cons. But, this can at times also prove to be a hindrance while the session is going on, as
the employees are bound to focus on the sessions.
IDEA IMPROVEMENTS
Suppose, if the model is successfully introduced in the business then, it is quite possible for the
employees to meet the new designed or maybe unforecasted profits in the business. The
incorporation of the proposed VR training will result in the improvement of the training facilities

for the new entrants in the organization and also for the existing employees who will definitely
get to learn new things in the business.The proposed business model includes the key partners
such as the manufacturers and distributors of hardware, software developers, content developers,
graphic artists, surveyors and field professionals. The model is basically involved in the various
industry segments along with their training activities and developing its contents for a smooth
management. Business is always carried out to earn profits and create goodwill for itself to
continuously achieve success in the markets among the commoners.("4 Ways to Use Augmented
and Virtual Reality Apps in the Classroom | Common Sense Education", 2019)
The model is engaging the modern VR training sessions for which it is hiring a latest designed
website for its business promotion, the software developers and the artists who have a well-
defined knowledge of the graphic designing, content writing, surveying the key models and
software’s which require special training and the technological experts who can well handle the
projectors, the VR headsets, the mic and speakers, etc. To check the feasibility of the proposed
VRVD model for the training of the new entrants and the existing employees in the organization,
it is very important to figure out the related costs of such set-up.("What Is Virtual Training? |
ezTalks", 2019)
Assuming the costs in both the systems in order to decide which system would be better to opt:-
VRVD SYSTEM OF TRAINING
● Firstly a computer set-up would be required.
● Then, a projector for playing the video, software application and its maintenance costs
should be estimated, though these are one- time investments

● Skilled professionals, such as software developers, graphic designers have to be
permanently hired who would be paid on a monthly basis.
LIVE/MANUAL TRAINING SYSTEM
● Hardware/computer systems have to be set up, the number of systems would be
depending on the size of the training room("What is the potential of virtual reality in the
workplace?", 2019)
● Internet facility with large capability, that is the one which higher uploading
/downloading speed has to be set up, which is expensive and hence increases the training
costs.
● The existing employers would be assigned to impart the said training which will result
in loss as their own allotted work will be delayed by this.
● The session at a time will be able to involve only a limited no. of employees, and
organizing consecutive training sessions will round the way prove expensive.
TABLE SHOWING THE HEAD COSTS TO BE INCURRED ON 2 YEAR BASIS:
LIVE TRAINING SESSIONS VRVD TRAINING SESSION
Large Hardware Installation costs, no. of
systems depending on the size of the room
One time computer set up and projector
installation cost
Annual Recurring maintenance costs along
with depreciation factor
Time to time maintenance and no fixed
costs
Hiring Large space to accommodate
maximum systems
Investment of large space is not required
since no separate systems are to be
involved.

Requires involvement of professionals to
impart the training permanently
Professionals are to one time record the
videos with no recurring time and costs.
Systems might require change due to the
advancement in technology
The content recorded will not have to be
changed frequently
The modern training session in the proposed model would be highly feasible as if it has to spend
comparatively lesser on the training, then it will be able to concentrate on the larger industry
segments, such as the Aviation Industry, Manufacturing Industry, IT Industry, Military, Banking
industry, Construction industry, etc. The model is also aiming at distributing its training contents
to its employees and clients with the help of digital devices, such as cds/ pen drives/ external
memory devices, dvds, etc. Though the data will definitely be protected with copyright and will
be saved in a format which cannot be altered by any end-user.(Dredge, 2019)
With these interfaces, the company is further capable of progressing, as it can share its ideas on
the website which is always just a click away for the ultimate people at large at anywhere and at
any time around the entire world. The business in the upcoming time is all about running and
competition. ("Virtual Training - Training Industry", 2019)The VRVD training plan, if adopted
will enhance chances of winning though the competition with the other rival companies who
might still be using the old technique of live training sessions.
Despite so many plus points, the company should also consider the few risks inherent with this
proposed model:
● Many other companies might also have executed this VRVD training session, which can
prove to be a cut throat competition for survival.

● The developed and designed software might result out to be very complicated or the
understanding of the common people through the websites and other sources.
CASH FLOW PROJECTIONS
Cash flow projections for the first 2 years are illustrated in the table below:-
Best
Case
(2019)
in $10,
000
Best
Case
(2020)
in
$10,
00
Worst
case(201
9) in $10,
000
Worst
case
(2020)
in
$10,
000
Receipts

Special
events/trainings
150 160 125 115
Voluntary
training
35 40 30 30
Total receipts 185 200 155 145
Payments
Facility &
Equipment
50 40 65 60
Travel &
Meetings
110 100 135 140
Program
Expenses
25 30 45 50
Professional
services
20 25 35 40
Software
development
65 55 80 70
Marketing 18 15 25 20
Other expenses 10 10 15 15
Total Expenses 298 275 400 355

Analysis of the Cash Flow Projections:
From the analysis carried out in the above representation of the two year cash flow, it is clearly
evident that the total expenses in the existing model of the current year is 298 whereas the
proposed VR model is giving the total expenses of 275, that is a decent decrease of 5% is seen.
This 5 % decrease in the expenses in the VR mode is incorporated turns out to be fair decrease to
meet the designed profits in the organization. The various costs such as marketing, software
development, professional services, facility and equipment, all requires less investments in its
framework because technology has advanced and costs have reduced making it profitable for the
business. We can evaluate from the above given cash flow, that the total business proceed have
met a decent hike with this proposed model of training the employees. Technically observing the
things proves that employees might be comfortable with the current live training sessions but
trust, that is only because they are following it since ages and are accustomed with the same. But
as per my perspective, change is the need of the hour. Changes do bring prosperity, therefore,
changing the current system of training with the proposed business change could be highly
feasible for the business as new ideas infuses the correct motivation factor among its staff.
Monotonous business strategies gain no importance and are generally short term in nature.
CONCLUSION
The proposed training session would prove to be highly feasible in spite of the above limitations
since the people now have become more like a couch potato and want to work in their own
comfort zone. This system would definitely fulfil this criteria. Again, change is the need of the
hour. Companies, people, wants change every time to make the business style and the learning

sessions happening as monotonous life no more gives the motivation to work which thereby
leads in the downgrade of the business activities. The proposed VRVD training system is
destined to be successful and create a right motivation factor amongst the companies and public
who are willing to work and incorporate the modern day changes. This would not only help the
company to prosper but will also help them become the dream company to work with for every
capable job seeker.
BUSINESS MODEL CANVAS
Associated
Partners
Major Activities Value of
the Virtual
Training
set-up
Association
with
Customers
Industry
Segments
Team
Inmates,software
developers,graph
ic designers,
content writers
and readers
1. To train the
existing and new
entrants in the
company
2. Develop
full-proof content
and analyse
Cost related
to the set up
of hardware
and
software,
costs of the
external and
Feedback
received from
the clientele
Information
Technology
,
Marketing,
Finance,
Export &

internal
drives, the
cost of
setting up
projectors
Import
Shipping
Highlights on
Resources
The VR headsets
and speakers to be
used for the
training, the
software
developers and
the graphics have
to be designed for
the training
Pathways
The VR
training
programmes
will be made
available to the
clients and the
public at large
with the help of
the external
drives like, pen
drives, compact
disks, websites,
etc.