Question

In: Economics

Please I need a new answer for the below questions, Due to the remarkable raise and...

Please I need a new answer for the below questions,

Due to the remarkable raise and advancement of technology, lots of large companies are moving forward to digitalize and virtualize how they do business internally and externally, such as virtual teams. Moreover, one of the virtual team advantages is the ability for a company to create the dream team without boundaries as it eliminates the element of desistance, core knowledge and skills limitation. With all these wonderful components there are many issues and might have a large negative impact to the whole process of creating a virtual team and working as and within a virtual team. These concerns can be outlined as the following:

  • Communication
  • Trust
  • Productivity

Questions:

  1. Define each negative factor and explain why it is an issue.
  2. Outline 2 solutions for each of the presented issues.

Solutions

Expert Solution

With the advancement of technology, business methods have taken a novel path. The introduction of virtual business is one of them. A virtual business conducts all or most of its business via the internet. It functions by outsourcing most of its business functions. With examples like Amazon and Flipkart around us, it is a fact that virtual business are on the rise, but the following disadvantages must also be analysed and proper solutions may be applied so that the business functionalities and its worth is not lost.

Communication

· Lack of face to face communications may result in miscommunications or misunderstandings.

· Technical difficulties may hinder the communication flow.

· It may create a feeling of disassociation among the employees

· It gives no opportunities for formulating cohesive work strategies.

Trust

· Internet is always prone to security threats and hence virtual business may induce risks to handle confidential information of the customers

· There may be risks to reputation of the business in a virtual environment

Productivity

· Virtual communications can easily get distracted and hence may result in low productive hours.

· The feeling of having more time to do a job may result in misappropriations of time management and may finally result in incomplete assignments.

· The chances of taking breaks are more and hence may make the employee lazy.

The following solutions may be preferred so as to overcome these disadvantages caused

· More video communications can be introduced so that face to face communications are obtained

· The system must be analysed periodically so that technical errors are reduced

· To improve the trust of customers, more safety precautions have to be taken so that the system is less prudent to externalities

· Each customer interaction may be stored separately and physically so that no information is lost even in cases of externalities.

· To increase the productivity, specific shifts in timings must be provided

· Distractions can be reduced by maintaining strict compliances during the working hours.


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