Virtual Reality in the Boardroom
The immersive value of virtual reality (VR) naturally lends itself to the entertainment and research industries. We can find VR gaining popularity within athletics, academics, laboratories, theme parks, residences, and now even boardrooms. That’s right, virtual reality is the next innovation for communication between executives, directors, and shareholders.
Traditional in-person meetings have become more inconvenient because advancements in communication have allowed people to live further from the company headquarters. Since the 1960’s, when conference calling was introduced, people have been searching for a way to communicate in groups over long distances with the same effectiveness as live interaction. Concessions were made for comfortability as weekly and monthly meetings were allocated to the phone, but it was still necessary to host in-person meetings.
The major drawback associated with conference calls, or even video calls as the technology has improved, is miscommunication. The gravity of important information is lost through the telephone or video lines due to people speaking over one another or being inattentive. It also promotes an insulated environment in which boardroom frequenters are criticized for residing.
VR may be the solution to these boardroom issues because it brings reality to the person. Boardroom members can wear VR headgear and be immersed with others from across the globe in an interactive meeting or more.
VR Improves Connectivity and Self-Awareness
VR integrated into the boardroom offers multiple benefits. Firstly, it offers a more comprehensive view of other members and information than other previous communication platforms. When conferences are held remotely, miscommunication can be minimized because members from anywhere will be able to see the same things with equal clarity. Whether that is the presenter, another board member speaking, or critical data, VR technology can ensure each member is seeing what they need.
It also works as an accountability tool. Conference calls may lead to fidgeting or participation in other activities during important discussions. VR headgear inhibits the wearer from doing anything else as they are fully engaged on the virtual level. It also stimulates the wearer’s senses, so they are less likely to lose focus.
VR Improves Perception
Boardroom members have been accused of being out-of-touch with their bottom line, and VR can remedy that. VR headsets can immerse them in any role or situation including: the customer, the production line, the transportation, or the brick-and-mortar stores. Visitations from C-level executives take time and may be infrequent, but through VR they can experience multiple vantage points.
Information or challenges previously unnoticed can be experienced right from the boardroom. Instead of relying on prevalent issues to be voiced through the corporate ladder, board members can use their own observational skills to discover them. This transparent access to all levels can improve the dynamic between employees and directors, although it may take time for everyone to acclimate. Transparency comes with an additional caveat: everyone is more aware of one another and their actions. VR can cause disruption in the communication chain by interrupting the problem-solving process before it makes it to the boardroom. Now they can see issues that may be resolved before they would have known about it without the VR technology.
VR Drives Innovation
Most importantly, VR is high-tech and its integration into the boardroom keeps the company ahead of competitors. Staying current in today’s fast-paced business world isn’t good enough anymore. Internally implemented innovative technology demonstrates the company’s commitment to self-betterment, especially when adopted by the boardroom. It allows them to find hidden issues and new solutions that lead to further innovation and success.