This chapter aims to explore the increasing utilization of virtual teams in the existing globally competitive and complex business environment of the 21st century. With virtual teams, companies can expand their talent pool beyond geographical barriers. Furthermore, they can incorporate a follow-the-sun process in their business strategy. Combined, this leveraged approach can better position companies to meet market demands in a more timely and cost-effective manner. To achieve this competitive advantage, business leaders must thoroughly understand the challenges associated with developing and managing virtual teams. This chapter examines the reasons for utilizing virtual teams, challenges that stem from diversity, structural and behavioral characteristics, managerial considerations for effective leadership, supporting technologies, best practices, and future implications.
Integrated Framework for Virtual Team Management