Virtual office of the future, maximum flexibility, corporate center not defined by geographical location, totally-coordinated link-up by advanced telecommunication information systems.
The logical extension of outpartnering. With the virtual corporation, the capabilities and systems of the firm are managed with those of the suppliers, resulting in a new type of corporation where the boundaries between the suppliers' systems and those of the firm seem to disappear. The virtual corporation is dynamic in that the relationships and structures formed change according to the changing needs of the customer.
A group of corporations, often with different specialties and located in different geographical areas, that work in concert as a single entity to serve the needs of particular clients.
A partnership of two r more companies who create a new organization whose partners are in different locations. The corporation can be temporary or permanent.
a kind of horizontal and/or vertical enterprise cooperation of independent firms with the possible participation of institutions and/or persons to achieve a service or product on t he basis of a common understanding of business
a temporary networked organization made up of replaceable firms that join and leave as needed
Partnerships so close those two partners become a single firm for all operational purposes.
Businesses that are composed of independent individuals and/or businesses that provide the physical resources of the corporation. There is no physical headquarters from which the enterprise is run.
To comprehend the virtual corporation, picture a company with no backbone that is flexible and able to operate virtually anywhere. Most virtual corporations are fully capable of providing their services without offices, instead, equipping employees with laptops, cellular phones and email. Employees can function independently or in teams (depending on the project), whether it is consulting onsite with a client or working from home. The benefits of this business model are exceptional – minimizing overhead, employee commutes, and saving time and money for both the virtual company and their customers. The virtual corporation is an organizational model that could help propel American business into the next century as today’s workforce adjusts to tomorrow's demands.
A virtual corporation is a firm that outsources the majority of its functions. Typically, a small group of executives will contract out and then coordinate the designing, making, and selling of products or services.
