1)Â Â Â This is rather loose concept of a group of independent firms of people that are connected often through information technology
2)Â Â Â These firms may be suppliers, customers, & even competing companies
3)Â Â Â The following are the aims of virtual organization:
a.    Gain access to another firm’s competence
b.   Gain flexibility
c.     Reduce risks
d.   Respond rapidly to market needs
4)Â Â Â Virtual organizations coordinates the activities through the market where each party sells it goods & services
5)Â Â Â It has own advantages & disadvantages
6)Â Â Â It has neither organization chart nor a centralized office
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