Businesses operating in a virtual space involve, in particular, the creation, development, and control of a virtual team. A virtual team is a potentially huge advantage for business, however, it comes with its own set of risks. Let’s discuss it.
Advantages of Virtual Teams
There are quite a large number of definitions of a “virtual team”, but there are few significant differences in these definitions. As a rule, a virtual team is understood as a small group of people united by a common goal or task, but separated in space and (or) time and interacting with each other through computer technology. The team may include people living in different cities or even different countries. In principle, we do not need to have our own staff, since such a team can completely replace it.
At the same time, from the point of view of classical team building, we are dealing with the following key differences:
- Blurring the boundaries of the concept of “team”. The composition of the virtual team changes very easily, and spatial and temporal boundaries do not exist.
- The absence of direct communication or a change in its form. Communication (communication of its members) has always been considered one of the key characteristics of the team.
- The use of information technology.
Increasing Knowledge
This advantage means the ability to use the best, meaning the most competent, experienced, or talented people in this industry, regardless of where they reside or are employed, by extending the boundaries of the selection process for team members.
As noted by psychologists, when trying to solve complex online tasks, logical and predictive thinking develop, which is known as intelligence. Mutually enriching and adding up happens when people consciously select missing roles and team links that aren’t always possible “in real life” because of the limited human resources available. If team members strive to be helpful by sharing useful information, they enrich the overall team knowledge.
Creativity Increases.
Creativity is at the core of any innovation, so it’s especially important. People from different cultures and backgrounds are not limited by the stereotypes of their own culture and background. A creative team can be many times more productive than a team composed of employees of the same company.
Be Flexible
A virtual team is characterized by high levels of flexibility. All processes can easily be rebuilt, including the team themselves, and their functions and role within the project. The flexibility and ability of the team to adapt to changes help them to change along with the ever-changing world. And the winner is the one who changes fastest, whose consciousness is most appropriate to the diverse reality.
Freelance for Extra Cash
It is possible to attract people to a team who, in principle, are not ready to work permanently either in the office or outside the city.
Cost Cutting
Costs of forming and maintaining a small team can be significantly reduced by using a virtual assistant. The use of ICT reduces the costs of maintaining an office, for the remuneration of staff coordinating processes, for the selection of team members, for travel and organization of meetings, and others.
Accelerating Work Processes
A virtual team implies staff reduction; improved coordination of processes; and the use of ITC, therefore, information moves fast and reaches its destination almost immediately.
Therefore, work processes are often sped up.