Why and When a Virtual Team is Necessary
No company that wants to compete internationally can function without virtual teams. A virtual team is absolutely necessary for any corporation which wants to compete in the international arena. With the advent of the Internet and globalization, very few corporations today can afford to not take advantage of virtual teams.
However, there are instances in which a virtual corporation may not be necessary. For instance, some would argue that a local business which caters its products to local customers has little need for a virtual corporation. However, there are others that would disagree with them. For example, one could argue that a local restaurant in a city has little reason to make use of virtual teams, since they don’t have to worry about international competition.
While this is true to an extent, a local restaurant which takes advantage of the Internet and advanced communication tools in order to market its products and services would have an enormous advantage over the other restaurants in the area.
At the same time, no corporation or business, regardless of size, can afford to compete on the international arena if it doesn’t take advantage of virtual teams. The traditional corporation of the 20th century is very close to becoming extinct.
The days of employees spending hours on planes traveling between different time zones on business are coming to an end. In a day and age where companies are looking to cut costs, the advent of the virtual team brings them enormous advantages.
The concept of a virtual team is impossible without the advent of the Internet. In my opinion, the Internet is the most important tool of the Information Age. Through the power of blogs, websites, emails, and message boards, professionals from around the world are able to communicate within a short period of time.
Most importantly, the Internet gives people the power of leverage. Leverage means being able to get a lot done while using relatively small amounts of money. While large corporations typically spend millions of dollars implementing communication tools and protocols, a small entrepreneur working over the web can put together a virtual team for little or no cost.
The Power of Leverage
When a group of professionals come together over a medium such as the Internet, there is no limit to the things they can accomplish. What is amazing about it is that little money has to be invested.
For example, a group of programmers, animators, and 3D modelers can get together over the Internet and work together as a virtual team in order to develop an online game. The team has the option of working for free on the project, with the understanding that they will split the profits of any royalties gained once it is complete and making money, or the team can be headed by an investor that pays the groups of the virtual team in order to complete the project.
Quite Cost Effective Virtual Teams
Regardless, the amount of money involved with creating a virtual team is small. In addition to this, you can get the best workers from around the world at a fraction of the cost you would have paid just fifteen years ago. Before the Internet, the only entities which could hire the best corporations from around the world were the large corporations.
Today, anyone can do it. It is this leveling of the playing field which has allowed small entrepreneurs to challenge larger corporations through the power of the web. When it comes to virtual teams, there are no such things as off hours. A team which works in multiple time zones will be working 24 hours a day, seven days a week. This means a virtual team can be extremely productive.