Virtual Teams: Report 1

Executive Summary Business globalization, rapid technology advancements and the current economic situation have many companies reviewing and expanding their electronic communication channels. One of the ways companies capitalize on the new business environment is through virtual teams – people working towards a common purpose, who can be located across the world or working at any time of the day. The purpose of this paper is to review the literature on virtual teams and accentuate areas that require in-depth attention of the virtual team and its management. The specific subjects explored here are considered some of the basic elements of virtual teams. These subjects - leadership, communication, and technology - show that the basic elements of teamwork stay intact, however specific measures can be taken to reinforce operational team excellence and relieve many of the uncertainties perceived to surround virtual teams. Trust is paramount; establishing trust via electronic communication and through transparent, consistent and pro-active leadership assists in creating a strong team bond. Training and coaching to further develop the team members’ knowledge of technology, communication protocols and team progress measurements will facilitate success for virtual teams