THE USE OF VIRTUAL REALITY IN MANAGEMENT AND BUSINESS ACADEMIC EDUCATION PROCESS – OPPORTUNITIES AND LIMITATIONS

Purpose: The rapid growth of technology can be responsible for new approaches to teaching. The development of Virtual Reality facilities and technology can significantly reshape the academic education process. This paper aims to identify the opportunities and limitations to discuss the potential benefits and challenges of Virtual Reality (VR) for management and business academic education processes. Methodology/approach: The method used was an in-depth literature study based on an electronic basis, e.g., SCOPUS, for theory background. In the empirical part, qualitative research using a case study with observation support was conducted. The study is exploratory in nature due to the uniqueness of the activities studied in VR provided by the Business Process Simulation Center situated at the Wroclaw University of Economics Campus. In the article, two research questions were asked: (RQ1) What are the opportunities of using virtual reality in the management and business academic education process? (RQ2) What are the limitations and barriers to using virtual reality in the management and business academic education process? Findings: The research allows the author to identify that by using VR and making various decisions, the students can observe their impact on the simulated environment. Users can repeatedly attempt and refine their skills, allowing for continuous development and learning in a safe, simulated environment. This approach addresses one of the main challenges of modern education, especially higher education, and the gap between theory and practice. It is one of the reasons for the often difficult transition that graduates face when encountering the challenges of their early careers. Originality/value: The main value and contribution is identifying the list of VR advantages and disadvantages as a potential challenge for management and business education institutions.