How to Operate a Business Operating in a Virtual Space
Virtual operations are becoming increasingly popular as companies realize the benefits of reduced costs for overhead, better collaboration and communication tools and a decrease in operating expenses. Virtual space is not only used for remote work or e-commerce. It’s also used in new areas, such as development of products and services.
Contrary to traditional offices that require space for meetings and collaboration virtual offices offer online platforms that replicate in-person interactions using live video conferencing, as well as collaborative document sharing. This is particularly beneficial for teams that work remotely, since a digital workspace eliminates the need for face-to-face interaction and can reduce travel expenses.
Other virtual spaces include social spaces, where people socialize and interact educational spaces like online classrooms, e-learning platforms and gaming spaces like massive multiplayer online games (MMOs), or mobile apps. These spaces are often enhanced by virtual reality and augmented reality to create immersive experiences.
Platform action is the logic that is running in the background of a virtual space to allow functionality. For instance when you use an e-commerce platform like eBay platform action controls how users bid and pay for items; in the case of a project management tool such as Trello or Microsoft Teams, it regulates the way that tasks are assigned and handled. It’s important to build robust platform action in virtual space, because it creates a seamless experience for both users and business users.