Table of Contents

Abbreviations............................................................................................................................4

1. Introduction......................................................................................................................5

2. Topica Organization.........................................................................................................5

2.1 Description of the innovation strategy and process of Topica...................................5

2.2 Analyzing the adoption technology in innovation strategy and process....................8

3. Barriers and Enablers to Innovation Strategy and Process..........................................11

3.1 Internal barriers........................................................................................................11

3.2 Internal enablers.......................................................................................................13

3.3 External barriers.......................................................................................................14

3.4 External enablers......................................................................................................16

4. Solutions to Minimize Barriers and Strengthen Enablers............................................18

4.1 From government side.............................................................................................18

4.2 From Topica perspective..........................................................................................18

5. Conclusion......................................................................................................................22

6.. Appendices......................................................................................................................24

7. References.......................................................................................................................30
Abbreviations

Ed Tech: Educational Technology

ENCON: Energy Conservation and Promotion Fund

GSO: General Statistics Office

R&D: Research and Development

Topica: Topica EdTech Group

VR: Virtual reality

Page | 2
1. Introduction

The adoption of technology and innovation is challenging for different economies,

businesses and individuals. Importantly, for developing countries such as Vietnam, the
adoption of technology and innovation is rising, there are many opportunities along with
challenges. Therefore, the analysis of company’s motivating factors and barriers to the
innovation strategy and process is necessary to have thorough preparation for the innovation
in practice. The purpose of this paper is concentrated on the barrier and motivating factors to
the innovation strategy and process of Topica EdTech Group in terms of external and internal
when adopting the virtual reality technology in education. Then, the solution is provided to
manage the barriers and reinforce the enablers.

2. Topica Organization

Topica EdTech Group is an educational technology company, founded in 2008, the

company’s mission focuses on enhancing high-quality online education among people in
Vietnam and South East Asia (Topica 2022). Currently, Topica provides many services in
the education sector such as the Topica Uni, online education for bachelor’s degree; Topica
Native, English courses; Edumall, technology platform for online open courses (Topica
2022). Topica also expanded into the foreign countries such as Singapore, Thailand and the
US.

2.1 Description of the innovation strategy and process of Topica

For Topica, this company serves the customer needs with the convenience method
(flexibility, cost effectiveness) to study in different subjects (Figure 1). In fact, when
COVID happened, people's awareness of the benefits of online education is increasing
(Ali 2020). However, enhancing customer satisfaction about the experience of online
education is also very harsh, especially to make learners enjoy and concentrate on online
courses. Understanding these pain points of learners, Topica also updated and adopted

Page | 3
 the technology in the course such as 3D technology or ‘Second Life’ to make the course
more interesting with the attractive prices in the market (Topica 2022).

From the company, the benefit that Topica receives is the network of students studying
the services Topica provides, when the network enhances, the users using Topica’s
services also increase.

Figure 1. The summary about the current strategy of Topica EdTech Group (Adopted the
Cascade of Choices framework, Julia 2018)

Page | 4
 Figure 2: The Porter’s 5 Forces analysis for Topica

Topica provides a wide range of services that serve the learners from primary to higher
education, including the English program, bachelor programs and elective course for
office workers (Topica 2022). Therefore, the threat of existing substitutes is not very
high for Topica, because for competitors such as Yola, the organization only
concentrated on providing the English programs (Ngoc 2020). Based on the Porter’s 5
Forces in Figure 2, overall, Topica has the difference in their business, which creates the
first mover in the online education sector in Vietnam to compete with competitors.
However, the threat level of entrants for online education is very high, especially for
foreign organizations to enter the Vietnam market. Because in fact, it is considered as
easier for new competitors to enter online education in Vietnam when COVID happened,
the social distance and Vietnam’s government policies have created favorable conditions
for online learning to grow in demand and increase competitiveness (Duong 2020).
Therefore, in the strategy, Topica needs to develop services and apply technology to
prevent the competitors, which also indicated on the statement from Tuan Pham, founder
of Topica ‘in a period before things start to move dizzyingly fast, we have to go fast than
others to achieve the bigger dream’ (Huong 2018). From the experience of applying 3D
technology in the educational platform that Topica provided before, virtual reality

Page | 5
 technology can be the consideration for Topica to make the innovation and improve the
learner’s satisfaction in the near future.

2.2 Analyzing the adoption technology in innovation strategy and process

Virtual reality (VR) is the technology provided simulated environments that allows the
users to experience an immersive feel of a virtual world by using pose tracking and 3D
near-eye displays (Isdale 2003). The technology is suitable with Topica to create the
innovation strategy to perform activity differently than rivals do in the Vietnam market.
For VR, the market Topica should exploit and make the trial can be the higher students
learning the field related to pharmacy, software. Because in fact, VR is the most useful
tool in the world to help learners in those areas imagine, visualize and experience
effectively connecting the theory into practice (Muhammad et al. 2021).

Figure 3: The innovation strategies (Adopted from Dodgon, Gan and Salter 2008)

Page | 6
 Figure 4: The process of virtual reality adoption in Vietnam (Adopted from OCD
2022)

The application VR in online education for higher education in the Vietnam market,
innovation strategy for Topica is classified as the reactive (Figure 3). Because in
Vietnam, VR technology is still developing and relatively new. After 7 years (from 2013
to 2020), Vietnam has made significant strides in VR adoption in many fields, but
limitations still abound (Figure 4). The popular application of VR in Vietnam is in the
field of real estate (Viet Nam News 2017). Therefore, the wise choice for Topica when
organization adopt and develop VR in higher education should be the reactive type to
receive the low risk, which also suitable as the past plan for Topica when Topica
implemented the online education in Vietnam from 2008, this organization utilize the
knowledge resources from foreign countries, support from government to introduce the
adoption of technology (Appendix 1).

Page | 7
 Figure 5: The product-market strategic option for Topica when Topica adopt VR tech
in education (Adopted model from Erickson et al. 1990, p.75)

For the strategic option, VR technology applying in online education for higher
education, which utilizes the existing market (Topica Uni), but the services are develop
with the technology to improve the learner’s experience, indicates in the expansion
stage (Figure 5). Moreover, classification by the competitive impact of VR, which is
categorized as pacing class in Vietnam, VR can become the future technology and
investing in VR can create the future viability for Topica (Viet Nam News 2022).
Because as mentioned, VR is in the stage of early adopters in Vietnam (Figure 6),
especially in education, a few institutions have the trial of using VR to test the benefits
(Phuong and Linh 2020). Hence, if Topica successfully applied and widely speed the
VR in Edu Tech, VR will make Topica increase its reputation and enhance the learner’s
network. Besides, measuring technological strength, Topica belongs to category tenable
as the technological follower for applying VR in education in the world.

Figure 6: The stage for Topica when this organization adopt virtual reality technology
in higher education in Vietnam (Adopted model from Liao, Palvia and Chen 2009)

Page | 8
3. Barriers and Enablers to Innovation Strategy and Process
3.1 Internal barriers
a) Financial barrier: higher cost of development the adoption of technology

In 2018, Topica achieved the biggest step on the rising funding ($50 million) from
Series D funding led by private equity firm Northstar Group (Anh 2018). At that time,
the proceeds from this funding were expected to be used to develop new products and
upgrade Topica's technology. However, in 2020, Topica also had trouble with the cost
structure, according to the Deal Street Asia (2020), Topica had laid off the majority of
employees due to the investor’s pressure and to manage the operational costs. In fact,
in 2022, Topica branch in Ho Chi Minh city and the office in Da Nang are closed for
better cost management (Figure 7). Furthermore, the early adopter stage about the
adoption of VR in Vietnam also required the high initial costs and risks, which is
analyzed based on the SWOT (Appendix 3). The cost to implement, customized full
virtual reality solution might range from $300,000 or more for each project (Yelena
2022). Furthermore, to hiring the talented 3D designers, programmer or developer to
develop VR program, which might cost around $200 to $300 for one hour, depend on
the expertise, the time to expecting produce the VR products might take around 1 to 3
months to build, but it can be take more time if lack of the cost or human capital
(Davies 2022). Besides, there are a lot of variable costs existing in implementing the
VR products/services. Therefore, for this innovation strategy and process, financial
barriers are one of the obstacles for Topica in the trial stage.

Page | 9
 Figure 7: The description for Topica closed HCM branch and Da Nang office
(Adopted from Tax Department 2022)

b) Skill barrier to innovation: lack of firm capabilities about the skills

quality

Human capital is the main force to promote the adoption, which requires the
employee to have the advanced skills in specific segments (Riddell and Song 2017).
However, in Vietnam, there is a shortage of skilled-labor (Viet Nam News 2022). In
2019, with the workforce about 57.5 million, the skilled labors accounted for 11.6%,
which is significantly lower compared to high-tech countries such as Singapore
(56.1%) (Figure 8) (Vietnam Insider 2019). Therefore, Topica organization also has
difficulty in finding quality human resources in the process of R&D virtual reality
services.

Figure 8: The skilled labor, English proficiency ration in 2019 (Adopted from
Vietnam Insider 2019)

c) Management incentives are not structured to reward innovation

From 2016 to now, the incentives of Topica to make the innovation is limited, the
process focus on the incremental operation (Topica 2022). The incentive in the
organization concentrates on the reward the hard-working and commitments (Đầu Tư
News 2022). Therefore, the management incentive of Topica are not have the well
structure to reward the innovation. Without the incentive, the employee will struggle

Page | 10
 to creating the innovation and promote this process happened for long-term
development (Elin and Mariana 2021).

3.2 Internal enablers

Topica has a clear vision and strong performances in the past that indicate the
innovation progress is necessary. The development of online education is developed
together with the updating of the necessary technologies to enhance the learner’s
satisfaction. Emphasizing the clear mission in the first step making the journey is
easy to approach and achieve the performances. In fact, over 20 years of
establishment, Topica has created its achievements such as in 2013, the first mover
on providing the educational mobile app (TOPICA MOBILE); in 2014, the success of
Topica Uni showed 1600 graduated students from online bachelor program (Topica
2022).Therefore, the power of vision is significantly important for the advantage of
promoting the strategy and success, which keep the focus organization and enhance
the performance measure (Andrea and Les 2005).

Topica already has systems in place to support systematization and digitalization of

work from the original online education services. With the existing system, the
adoption and development of VR technology might be faster. Importantly, Topica has
already developed 3D technology in education since 2008, this is a lesson and
experience for Topica to develop virtual reality technology. Because in virtual reality
technology, creation of a virtual image (2D or 3D) for eyes to see is the aspects need
to adapt when apply VR in education (Robert 2022).

Topica has strong connections and also expanded the business into the foreign
countries (Topica 2022). The existing clients, partners of Topica are quite large in the
education sector including both domestic and foreign (Figure 9). Therefore, utilizing
the connection to learning, exploring the adoption of technology is easier to reduce
the risks.

Page | 11
 Figure 9: The partners of Topica (Adopted from Topica website 2022)

3.3 External barriers

a) The access to government subsidies is limited

Vietnam’s government has a few policy instruments to promote and support
technology (The World Bank 2020). Moreover, the awareness of local firms to access
the programs, subsidies from governments is low (Xavier et al. 2021). In Figure 10,
the awareness of business into the government subsidies tends to low in the base on
the size of firms (Xavier et al. 2021). Hence, for business, the support from the
government to quickly adopt technology is still limited in Vietnam.

Figure 10: Awareness of Government Program and Subsidy (Adopted from

Xavier et al. 2021)

Page | 12
 Besides, the business in Vietnam has limited access to financial support, funds from
the governments (Xavier et al. 2021). In Vietnam, access to finance and technology
use depend on many factors (size, scale) (Figure 11), which also creates a barrier to
adopt the most-updated technology (Xavier et al. 2021).

Figure 11: The access to finance and technology use (Adopted from Xavier et
al. 2021)

Page | 13
 b) Lack of information to understanding the market

The speed of quickly updating the best version of virtual reality technique in the
world is still facing many obstacles in Vietnam. Moreover, the information public on
the social media about the market is limited (Xavier et al. 2021), the available
resources to investigate the VR technology adoption in Vietnam is not large combined
with the constant changes in technology sector, which generate the barrier for Topica
to catch up and deeply understand the market.

3.4 External enablers

The current regulation is to support and protect the environment for innovation.
In more details, Decision 450/QD-TTg to promote environmental protection to 2030
with a vision to 2050, which state clearly the mission of Reinforcing waste
management, try to replace the physical materials, which is harmful to the destroy
environment and invest in technology reduce the negative impact to the society and
environment (Celina 2022). Those regulations are to support the organization
providing online education like Topica.

After COVID, the government and Vietnamese people believe in technology

adoption to improve their life (PwC 2021). 90% respondents said that adopting
technology in work and life is having more opportunities than risks (PwC 2021)
(Figure 12). With this attitude, there is a right time to adopt VR technology for the
Vietnamese people to adopt the need of learners to improve their life by convenience
and effective study method.

Page | 14
 Figure 12: The respondent about the technological developments improve or
impede the job prospects in the future (Adopted from PwC Report 2021)

In Vietnam, the development of international schools and higher education is

increasing, which is a chance to have potential customers adopt VR in education. The
new decree paves way, leading the boom of international schools in Vietnam for the
expanding size and number of students (Vietnam Net News 2022). Moreover, for
higher education in Vietnam, with the target becoming an upper-middle-income
country in 2035, the connection between higher education and socioeconomic
development is well recognized (Dillip et al. 2020). In Vietnam, higher education has
a positive effect on household poverty and long-term earnings for individuals. In data,
annualized private returns to higher education are above 15 percent, the highest levels
in the world (Patrinos, Thang and Thanh 2017).

Page | 15
4. Solutions to Minimize Barriers and Strengthen Enablers

4.1 From government side

Implementation of wide range of investment supports and financial

incentives for different firms

Providing the different subsidies for different scales of firms promotes and solving the
short-term financial constraints (Nhan et al. 2010). Besides, the financial incentives
(tax incentives, soft loans) are the attractive policies for small firms feeling
confidence when investing in technology (Nhan et al. 2010).

Making the change to create the fund by looking international practice

Because the sources of financial support in Vietnam is limited, the considering the
way to create the fund by looking at international practices. The strategy is successful
in Thailand, when Thailand adopt a program the Energy Conservation and Promotion
Fund (ENCON) to push the projects having cost-competitive using a combined
formula of economic and financial rates of return to determine viability and incentive
levels and receive the financing through the Clean Development Mechanism (Nhan et
al. 2010).

4.2 From Topica perspective

Overcome the financial barriers

 Looking more opportunities to get money and funding such as crowdsourcing

Crowdsourcing or joining some programs to get funding for the adoption of
technology such as Shark Tank is the recommendation to cover the high initial cost of
adopting VR in online education. From the reputation of Topica in online education,
joining programs to get funding is a desirable way to enhance the brand names and
marketing to the market (Kristopher 2021).

Page | 16
  Try to reduce the cost such as collaborate with existing successful educational
institutions apply VR
To not repeat the mistakes that happened in the past, learning from experienced
people/business is the useful way to reduce the costs, especially for the Vietnam
market, when VR technology is on the early adopter stage. However, do not blindly
copy the practice from the world and use it in Vietnam, the recommendation for
Topica is build the ‘‘innovation diagnostic’’ (Appendix 2) first to recognize the
company’s innovation issues and opportunities, learning then establish the action plan
to focus on the weaknesses (Loewe and Dominiquini 2006).

Utilize the strong connection to take advantage of hiring the skilled labor in
technology field in short-term or joint venture to support the long-term
development

In short-term, to promote the quickly technology adoption in Vietnam, the solution of

promote R&D activities and make the connection with the potential workforce from foreign
educational institutions is the desirable solution. When utilizing the benefit of connection
with international organizations, especially high advance educational institutions, the chances
to access and hire the high-skill people to work for Topica is higher, which is partly solving
the barrier of lack of skilled staff in Vietnam.
For the long-term development to make money, joint ventures can be the solution to enhance
the capital and utilize the benefit of each other to create the win-win relation (Nhan et al.
2010).

Providing training courses, trial experience in using technology innovation,

especially in education to reinforce the external enablers

With the fear of enrolling in technological services without experience of Vietnamese people,
providing courses, training to improve the awareness is the main driving force to bring
technology to customers (Manal and Mohammad 2020). This is following the coaching
model proposed by Dominika Farley (Figure 13), stimulating awareness and knowledge can
make people evaluate the current situation to enhance the action (ICA 2022).

Page | 17
 Figure 13: A Coaching model created by Dominika Farley
(Adopted from ICA 2022)

Process: Topica should apply ‘step to step’ planning to reduce the risks, reward
the innovation, gradually understand Vietnam market

Figure 14: The Step Model of Planning Practice (Adopted from Lawrence Susskind 2002)

Page | 18
Step to step planning is the safe decision for Topica to implement the VR services in focus
group (higher-education) in Vietnam. The model in Figure 14 is an example for Topica to
map the organization’s economic benefits, stakeholders and innovation strategy in real life.

In more details, as mentioned, Topica has the barrier on the management incentive to reward
innovation, the recommendation is the change in the leadership and organization; processes
and tools; people and skill; culture and value to create effective innovation aspect (Figure
15). The attitude of ‘a fear of failure’ should not appear in the mindset of employees when
people think about innovation, to build the culture, which is also related to leadership. One of
the ways to create the ‘innovation culture’ is the strategy ‘walk and talk’ of leaders, who are
willing to talk about the innovation every day, to make it become a habit that happens in an
organization's environment (Loewe and Dominiquini 2006). Then, the reward for innovation
happened to promote short-term motivation for employees. Following Kotter's 8 Step of
Change, in step 6, creating short-term promotion and wins is the method to make the staff see
the promotion and push productivity for long-term success (Roumel and Ferdinand 2021).

Page | 19
 Figure 15: The four keys to a systemic innovation capability (Adopted from Loewe and
Dominiquini 2006)

5. Conclusion

Figure 16: Summarizing of the barriers-enablers and solution for Topica

The innovation strategy and process of Topica is on the reactive type in the online
educational sector, when Topica adopts the new technology to expand the market has the
barriers in terms of internal related to financial, skilled staff and management incentive
structure. For the external side, the barriers concentrated on the access of Vietnam’s
government subsidies and lack of information in the Vietnam market. However, the enablers
showed promise for Topica to improve the innovation strategy such as Topica has the clear
vision, already has the system and strong connection from domestic and outside. Moreover,
the external enablers such as the supported regulations, right time (after COVID) and the
strong development of international and higher educational institutions, create the possibility
for the adoption of VR technology to higher education.

Besides, the recommendation to overcome those barriers and reinforce the enablers also
provided to map the future strategy for Topica. Solutions are established on two perspectives:

Page | 20
governments and Topica organization. From the government side, providing different ranges
of subsidies and incentives for business and creating the fund by looking at international
practice is some recommendations to help firms overcome the financial barriers. From
Topica’s view, crowdsourcing, joining a fundraising program to get money or reduce the cost
by collaboration are the options to record the high initial costs for innovation. From the skill
barrier, Topica can utilize the strong connection to approach the skilled labor in the
technology field in short-term or joint venture in the long-term. Moreover, the step to step
planning and focus on the change on four keys to a systemic innovation capability is the
important solution for Topica to develop the strategy for the long-term destination and
solving the barrier on management reward for innovation. Besides, to reinforce the enablers
of Vietnamese people's awareness on the action of adopting technology, providing more
training courses, trial experience, especially in education about virtual reality is some
effective ways to enhance the action.

However, solutions are temporary recommendations, when applied in practice, more research
is needed and more company’s internal information is required to develop the best innovation
strategy and process.

Page | 21
6. Appendices

Appendix 1: The past performances of Topica (Adopted from Topica website 2022)

Page | 22
 Appendix 2 : The innovation diagnostic for Topica (Adopted model from Loewe and
Dominiquini 2006)

Page | 23
 Appendix 3: SWOT analysis for Topica when adopt virtual reality technology in
education

Page | 24
 Appendix 4: The PESTLE analysis

Page | 25
 Appendix 5: Example of risk analysis for Topica

Page | 26
 Appendix 6: Example of recommendation for stakeholders for Topica

Page | 27
7. References
Ali W (2020) “Online and Remote Learning in Higher Education Institutes: A Necessity in
Light of COVID-19 Pandemic.”, Higher education studies, 10(3):16.

Andrea K and Les S (2005) ‘The power of vision’, Emerald Insight, accessed 7 November
2022, https://www.emerald.com/insight/content/doi/10.1108/10878570510586810/full/html

Anh T (2018) ‘Topica Edtech Group raises $50 million in funding round’, The Leader,
accessed 16 November 2022. https://e.theleader.vn/topica-edtech-group-raises-50-million-in-
funding-round-1543328951525.htm

Bernard M (2020) ‘The future of virtual reality’, Forbes, accessed 7 November 2022,
https://www.forbes.com/sites/bernardmarr/2020/12/18/the-future-of-virtual-reality-vr/?
sh=41ad6c1a27be

Bhunia P (2017) ‘New technology transfer law in Vietnam aims to promote adoption of latest
advances and commercialization of research’, Open Gov, accessed 6 November 2022,
https://opengovasia.com/new-technology-transfer-law-in-vietnam-aims-to-promote-adoption-
of-latest-advances-and-commercialisation-of-research/

Bircan C and R. De Haas (2019) ‘The Limits of Lending? Banks and Technology Adoption
across Russia.’, The Review of Financial Studies, 33 (2): 536–609.

Celina P (2022) ‘Vietnam approves long-term strategy on environmental protection: Decision

450’, Vietnam Briefing, accessed 7 November 2022,
https://www.vietnam-briefing.com/news/vietnam-approves-long-term-strategy-on-
environmental-protection-decision-450.html/

Đầu Tư News (2022), ‘Topica’s CEO Pham Minh Tuan’, Đầu Tư News, accessed 16
November 2022. https://baodautu.vn/chu-tich-topica-pham-minh-tuan-ninh-sep-se-bi-phat-
d39694.html

Page | 28
Davies A (2022) ‘How much does virtual reality development cost’, Dev News, accessed 8
November 2022, https://www.devteam.space/blog/how-much-does-virtual-reality-
development-cost/ cac loai cost

Dillip P, Dung KV, Jamil S and Nguyet T (2020) ‘Improving the performance of higher
education in Vietnam’, The World Bank Group, accessed 6 November 2022,
https://documents1.worldbank.org/curated/en/347431588175259657/pdf/Improving-the-
Performance-of-Higher-Education-in-Vietnam-Strategic-Priorities-and-Policy-Options.pdf

Dodgson M, Gann D and Salter A (2008) The Management of Technological Innovation,

Oxford University Press.

Duong N (15 June 2020) ‘E-learning in Vietnam before and after COVID-19 Outbreak’,
B&Company, accessed 20 November 2022. http://b-company.jp/online-learning-en/

Elin and Mariana (2021) ‘Automation of income support in the public social services: a case
study of an innovation that is still struggling’, Elgar Online,
https://doi.org/10.4337/9781800371248.00015

Erickson J, Magee JF, Roussel P and Saad KN (1990) “Managing Technology as a Business
Strategy.”, MIT Sloan management review, 31(3):73.

General Statistic Office (2021) The population and housing census: Population aging and
older persons in Viet Nam, General Statistic Office Report, accessed 7 November 2022,
https://vietnam.unfpa.org/sites/default/files/pub-pdf/ageing_report_from_census_2019_eng_f
inal27082021.pdf

Huong L (24 December 2018) ‘How Topica overcame early struggles to become Southeast
Asia’s biggest edtech firm’, Tech Asia News, accessed 20 November 2022.
https://www.techinasia.com/topica-overcame-early-struggles-southeast-asias-biggest-edtech-
firm

ICA (2022) Coaching models, ICA, accessed 7 November 2022,

https://coachcampus.com/coach-portfolios/coaching-models/dominika-farley-coach-client-
cooperation/

Page | 29
Isdale J (2003) "Introduction to VR technology," IEEE Virtual Reality, Proceedings.,
1(1):302, doi: 10.1109/VR.2003.1191178.

Jordi P and Pawel K (2017) ‘Social Media Crowdsourcing’, Encyclopedia of Creativity,

Invention, Innovation and Entrepreneurship. DOI:10.1007/978-1-4614-6616-1_200009-1

Julia K (2018) ‘Innovation strategy – What is it and how to develop one?’, Viima, accessed
17 November 2022. https://www.viima.com/blog/innovation-strategy

Kristopher J (2021) ‘The Importance Of Branding In Business’, The Forbes, accessed 16

November 2022, https://www.forbes.com/sites/forbesagencycouncil/2021/03/24/the-
importance-of-branding-in-business/?sh=55f949367f71

Laura W (15 January 2021) ‘Vietnam $7.32 billion Internet of Things market, competition,
forecast & opportunities, 2025 Research and Markets, Business Wire, accessed 6 November
2022, https://www.businesswire.com/news/home/20210115005321/en/Vietnam-7.32-Billion-
Internet-of-Things-Market-Competition-Forecast-Opportunities-2025---
ResearchAndMarkets.com

Liao C, Palvia P and Chen J (2009) “Information Technology Adoption Behavior Life Cycle:
Toward a Technology Continuance Theory (TCT).”, International journal of information
management, 29(4): 309–320.

Loewe P and Dominiquini J. (2006) ‘Overcoming the barriers to effective

innovation.’, Strategy & Leadership, 34(1): 24-31,
doi:https://doi.org/10.1108/10878570610637858

Manal H and Mohammad N (2020) ‘Students' technological awareness at the College of

Education,Qatar University’, Cypriot Journal of Educational Sciences, 15(4):749-765,
DOI:10.18844/cjes.v%vi%i.5057

Muhammad M.A, Naz, A, Churi, P and Tahanzadeh M.M (2021) ‘Virtual reality as
pedagogical tool to enhance experiential learning’, A systematic literature review. Education
Research International, doi:https://doi.org/10.1155/2021/7061623

Page | 30
Ngoc N (2020) ‘YOLA pioneers in offering online classes to help students ensure academic
progress in the midst of the coronavirus epidemic’, Vietnam News, accessed 16 November
2022. https://vietnamnews.vn/brand-info/602455/yola-pioneers-in-offering-online-classes-to-
help-students-ensure-academic-progress-in-the-midst-of-the-coronavirus-epidemic.html

Nhan N, Minh D, Thnah T, Ram S, Franck N (2010) ‘Barriers to the adoption of renewable
and energy-efficient technologies in the Vietnamese power sector.’, GMSARN International
Journal, 4 (2):89-104. https://halshs.archives-ouvertes.fr/halshs-00444826/document

Patrinos HA, Thang P and Thanh N (2017) ‘The Economic case for education in Vietnam’,
Policy Research Working Paper; No. 8679. World Bank, Washington, DC. © World Bank,
accessed 6 November 2022, https://openknowledge.worldbank.org/handle/10986/31081
License: CC BY 3.0 IGO.”

Phuong LT and Linh D (2020) ‘Applying virtual reality technology to biology education: the
experience of Vietnam’, Intelligent Computing Paradigm and Cutting-edge Technologies,
455-462, DOI:10.1007/978-3-030-38501-9_44

PwC (2022) Vietnam Outlook 2022: Economic prospects in the wake of COVID-19, PwC
Report, accessed 6 November 2022 https://www.pwc.com/vn/en/publications/2022/220221-
pwc-vietnam-outlook-en.pdf

PwC (2022) Vietnam Outlook 2022: Economic prospects in the wake of COVID-19, PwC
Report, accessed 6 November 2022 https://www.pwc.com/vn/en/publications/2022/220221-
pwc-vietnam-outlook-en.pdf

PwC (March 2021) Vietnam Digital readiness Report, PwC Report, accessed 7 November
2022, https://www.pwc.com/vn/en/publications/2021/pwc-vietnam-digital-readiness-report-
en.pdf

Ravi P, Mohd J, Ravinder K, Mohit T, Abid H and Rajiv S (2020) “Significant Applications
of Virtual Reality for COVID-19 Pandemic.”, Diabetes & metabolic syndrome clinical
research & reviews, 14(4): 661–664, https://doi.org/10.1016/j.dsx.2020.05.011

Page | 31
Reyes G, Markus S and Smith NC (2017) ‘Beyond the “Win-Win”: Creating Shared Value
Requires Ethical Frameworks’, Research Gate, accessed 7 November 2022,
https://www.researchgate.net/figure/Modes-of-Norm-Making-withexamples_tbl2_315636530

Riddell W. C and X. Song (2017). ‘The Role of Education in Technology Use and Adoption:
Evidence from the Canadian Workplace and Employee Survey.’, ILR Review, 70 (5): 1219–
1253.

Robert S (2022) ‘Virtual reality’, Tech Target Network, accessed 16 November 2022,
https://www.techtarget.com/whatis/definition/virtual-reality

Roumel B and Ferdinand TA (2021) ‘Change Management Process in a Mining Company:

Kotter’s 8-Step Change Model’, Journal of Management, Economics, and Industrial
Organization, 5(3): 31-50. http://doi.org/10.31039/jomeino.2021.5.3.3

Shailaja N (2019) ‘Schools face barriers to VR adoption in the classroom’, EdTech, accessed
7 November 2022, https://edtechmagazine.com/k12/article/2019/12/schools-face-barriers-vr-
adoption-classroom

The World Bank (2022) A review of Science, Technology and Innovation in Vietnam, The
World Bank, accessed 7 November 2022,
https://www.worldbank.org/en/country/vietnam/publication/a-review-of-science-technology-
and-innovation-in-vietnam

The World Bank (2022) A review of Science, Technology and Innovation in Vietnam, The
World Bank, accessed 7 November 2022,
https://www.worldbank.org/en/country/vietnam/publication/a-review-of-science-technology-
and-innovation-in-vietnam

Topica (2022) The story of organization, Topica website, accessed 16 November 2022.
https://topica.edu.vn/cau-chuyen-hinh-thanh/

UN Environment Programme (2022) Digital Transformation’, UN, accessed 7 November

2022, https://www.unep.org/explore-topics/technology/what-we-do/digital-transformation

Page | 32
UNICEF and UNESCO (2021) Viet Nam case study: Situation analysis on the effects of and
responses to COVID-19 on the Education sector in Asia, UNESCO and UNICEF Report,
accessed 7 November 2022, https://www.unicef.org/eap/media/9346/file/Sit%20An%20-
%20Viet%20Nam%20case%20study.pdf

Viet Nam News (10 June 2017) ‘VN property developers see new tricks in VR’, Viet Nam
News, accessed 6 November 2022, https://vietnamnews.vn/economy/378063/vn-property-
developers-see-new-tricks-in-vr.html

Viet Nam News (2022) ‘Virtual reality imparts new experiences from ‘traditional’
entertainment events’, Viet Nam News, accessed 16 November 2022.
https://vietnamnews.vn/life-style/1159562/virtual-reality-imparts-new-experiences-from-
traditional-entertainment-events.html

Viet Nam News (26 September 2022) ‘Việt Nam needs highly skilled labour force to
compete’, Viet Nam News, accessed 8 November 2022,
https://vietnamnews.vn/society/1338269/viet-nam-needs-highly-skilled-labour-force-to-
compete.html

Vietnam Insider (21 December 2019) ‘Vietnamese salary a seventh of regional median’,
Vietnam Insider News, accessed 16 November 2022. https://vietnaminsider.vn/vietnamese-
salary-a-seventh-of-regional-median/

Vietnam Net Global News (2022) ‘Vietnam focus on training and education to advance AI
technology growth’, Vietnam Net Global, accessed 16 November 2022,
https://sea-vet.net/news/1033-vietnam-focuses-on-training-and-education-to-advance-ai-
technology-growth

Vietnam Net News (2022) ‘New decree paves way for boom of international schools in
Vietnam’, Vietnam Net, accessed 6 November 2022, https://vietnamnet.vn/en/new-decree-
paves-way-for-boom-of-international-schools-in-vietnam-E206642.html

Vietnam News (7 October 2022) ‘Strategy for Science, Technology and Innovation
Development until 2030 approved’, Vietnam News, accessed 6 November 2022,
https://en.vietnamplus.vn/strategy-for-science-technology-and-innovation-development-until-
2030-approved/239685.vnp

Page | 33
Xavier C, Diego C, Marcio C, Kyung ML and Antonio SMN (2021) ‘Firm-level technology
adoption in Vietnam’, Policy Research Working Paper,
https://documents1.worldbank.org/curated/en/498501615216149075/pdf/Firm-Level-
Technology-Adoption-in-Vietnam.pdf

Yelena L (2022) ‘AR/VR cost factors’, Itrex Group News, accessed 7 November 2022,
https://itrexgroup.com/blog/augmented-reality-cost-factors-examples/

THE END.
Page | 34