Are There Entrepreneurial Opportunities Existent in the Virtual World of Second Life

Are There Entrepreneurial Opportunities Existent in the Virtual World of Second Life

Length: 1875 words (5.4 double-spaced pages)

Rating: Term Papers

Open Document

Essay Preview

This essay examines articles to compare and contrast whether there are entrepreneurial opportunities existent in the virtual world Second Life. A virtual world is a computer mediated environment which can be either be a two or three dimensional simulated environments, where one or more human participants inhabit and interact via their avatars; various features include chat, instant messaging and voice (Multimedia Victoria, Acumentum Pty Ltd, 2007, p.2; Bloomfield, 2007, p. 12). Second Life was launched in 2003 by Linden Lab; the three dimensional virtual world has allowed commercial interaction (Multimedia Victoria, Acumentum Pty Ltd, 2007, p.3) which will be focused on throughout this essay to examine the aforementioned question. The following articles are assessed, Making real money in virtual worlds, Real Commerce in virtual worlds, Would your business benefit from a second life? and Worlds for Study to convey that although there are in-world limitations present for entrepreneurial opportunities when enacted upon, successful commercial achievements are also examined through utilising examples from various in-world organisations.
[LIMITATIONS]
[INSUFFICIENT REGULATION]
Avatar appearances and their commercial activities are regulated by Linden Lab, written in the terms of service in the signup process to register into Second Life, to comply with a variety of international laws (Vitzthum, Kathuria and Konsynski, 2009, p.4). This is especially important as Second Life has a virtual currency, the Linden Dollar to facilitate commercial transactions which are exchangeable for real dollars in a marketplace (Multimedia Victoria, Acumentum Pty Ltd, 2007, p.2). Among criticism, is that regulation changes sometimes results in a larg...


... middle of paper ...


...thical implications in metaverses’, Technological forecasting & social change (0040-1625), 75 (5), pp. 612-620 , Viewed 11/07/2011,

• Vitzthum, S; Kathuria, A; and Konsynski, B (2009), ‘Real Commerce in Virtual Worlds’, ICIS 2009 Proceedings. Paper 22, Viewed 11/07/2011, pp. 2-5,

• Multimedia Victoria in conjunction with Acumentum Pty Ltd, (2007), ‘Would your business benefit from a second life?’, learning from the Melbourne Laneways project, Viewed 12/07/2011, pp.2-5,

• Bloomfield, R, (2007) Worlds for Study: Invitation - Virtual Worlds for Studying Real-World Business and Law, and Politics, Viewed 13/07/2011, pp. 2-17,

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Entrepreneurial and Innovative Business Culture Essay

- Introduction: The publication of Oviatt and McDougall work “Toward a Theory of International New Ventures” in 1994 attracted an attention throughout the world to the increasing role of young firms in the global marketplace. The authors highlighted the importance of smaller and younger firms and their distinguishing features that stand them internationalize rapidly and create value for their owners and founders. The article of Zahra Shaker (2005) which is built on the abovementioned the seminal work of Oviatt and McDougall is essentially based on a few but very complex characteristics that sit at the base of successful international new ventures: entrepreneurial qualities of the company....   [tags: Business Management ]

Term Papers
1203 words (3.4 pages)

How Entrepreneurs Identify New Business Opportunities Essay

- Dictionary.com defines an entrepreneur as “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.”(Dictionary.com) Entrepreneurs are people who see opportunities in everyday situations. Entrepreneurs discover opportunities in areas others do not. Entrepreneurs additionally envision the possibilities the future brings that others do not recognize. Similarly, Dictionary.com did a good job in defining what an entrepreneur is. Again, dictionary.com describes an entrepreneur as “a person who organizes and manages “any” enterprise, especially a business, usually with considerable Initiative and risk.” (Dictionary.com)....   [tags: entreprenurial opportunities]

Term Papers
1375 words (3.9 pages)

Essay on Entrepreneurial Business Opportunities in Developing Countries

- A greater level of entrepreneurial business opportunities will exist in a poor, developing economy, rather than in a rich, developed economy because the needs and opportunities are more widespread, they have a different and greater cultural awareness, and have the opportunity to assess industries that have a high level of market risk before entering them. Although there are many factors that can affect entrepreneurship in these countries and prevent entrepreneurship form existing like a lack of finance, difficulty recruiting, a lack of innovation, high barriers to entry and issues with their government....   [tags: innovation, finance, alleviating poverty]

Term Papers
974 words (2.8 pages)

The Virtual World Essays

- The virtual world is an imaginary location now defined as a place where a person can customize their personality characteristics to present themselves the way they want to be perceived. A strong doorway so the individual can establish an alter ego to escape from their daily discrimination or bias in life. An online community that allows the individual to fulfill into a community where he or she is accepted for who they something the actual world cannot offer to the individual. A society were the individual is giving the: equal opportunity among their others peers, to become more minded, a place for them to be truly themselves and where he or she is able to "hide" behind their computer scre...   [tags: Comparison: Online Community & Actual World]

Term Papers
1089 words (3.1 pages)

The Importance Of Virtual Reality Essay examples

- Introduction Traveling the world and experiencing in a different world without moving out of the house was a thing in the past until modern technology made it into reality. Virtual reality is one of the recent groundbreaking technologies takes the perspective of an individual and change the environment in an instant. The purpose of this essay is to talk about how the technology is involved, significance of virtual reality, ethical and legal issues, security concerns, social problems, and further improvement for the future of virtual reality....   [tags: Virtual reality, The Real World, Sense]

Term Papers
1256 words (3.6 pages)

Essay on Virtual Reality : What Is Virtual Reality?

- Thanh Thien Pham Prof. Sylvia Garcia-Palauro ENGL 1301: Composition 1 36908 October 17, 2017 Have you ever wanted to immerse in an imaginary world that you can interact with. Many developers are creating this technology called Virtual Reality. It is a new exciting technology that will impact the way we live, not only for entertainment, but for many different purposes in our life as well. What is Virtual Reality (VR). Virtual reality is a rising technology that simulates a three-dimensional image or environment that can be interacted with....   [tags: Virtual reality, Smartphone, Therapy]

Term Papers
814 words (2.3 pages)

Are Virtual Schools Relevant? Essay

- Are Virtual Schools Relevant. Technology is rapidly advancing in the world. People’s everyday lives are being bombarded by technology. Now schools are even being bombarded by technology. Schools are learning to embrace technology for the benefit of the students. One of the new ways schools are using technology is with virtual schools. Virtual, or online, schools are schools were education is learned through the Internet. They provide a different learning environment than the regular “cookie-cutter” classroom, but should there even be virtual schools....   [tags: Education, Virtual learning environment, Teacher]

Term Papers
965 words (2.8 pages)

Essay On Virtual Reality

- 1. INTRODUCTION Discover a universe of possibilities and explore the world like never before. Virtual Reality (VR) brings you to distant lands, places you in the middle of an Elvis Presley performance and brings you face to face with an inhabitant from a different universe. Unlike real reality, virtual reality simulates us with the use of computers and equipment, like headsets and gloves. Other than its usual known use for games and entertainment, it's long been used for training airline pilots and surgeons and for helping scientists to figure out complex problems such as the structure of protein molecules.  While critics may think that virtual reality is still a far cry from actual real...   [tags: Marketing, Virtual reality, Marketing management]

Term Papers
944 words (2.7 pages)

Essay about The Entreprenurial Process

- Introduction The Entrepreneur is, “an individual who takes initiative to bundle resources in innovative ways and is willing to bear the risk and/or uncertainty to act” (Hisrich, 2013). The entrepreneurial process is unique onto itself; for it does not merely involve the taking of tremendous risks, but also evokes some of the most creative and innovative characteristics of the individual. This dynamic process pushes the aspiring entrepreneur to his/her limits in a quest to take full advantage of particularly identified available opportunities in the marketplace....   [tags: risk, hewlett-packard, microsoft, dell]

Term Papers
1618 words (4.6 pages)

Entrepreneurial Leadership Essay

- Discuss the common elements described in the theories/philosophies of Case, Kouzes, and Drucker including how their principles/strategies relate to the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial leader ship in today’s Dynamic Markets. The new definition of entrepreneurial leadership is one of an enterprising, transformational leader who operates in the dynamic market that offers lucrative opportunities. It is also believed that the entrepreneurial leader has the following transformation leader dimensions....   [tags: Leadership ]

Term Papers
1587 words (4.5 pages)