In the competitive market, virtual teams represent a
growing response to the need for fasting time-to-market, low-cost and
rapid solutions to complex organizational problems. Virtual teams enable
organizations to pool the talents and expertise of employees and
non-employees by eliminating time and space barriers. Nowadays,
companies are heavily investing in virtual team to enhance their
performance and competitiveness. Despite virtual teams growing
prevalence, relatively little is known about this new form of team.
Hence the study offers an extensive literature review with definitions
of virtual teams and a structured analysis of the present body of
knowledge of virtual teams. First, we distinguish virtual teams from
conventional teams, different types of virtual teams to identify where
current knowledge applies. Second, we distinguish what is needed for
effective virtual team considering the people, process and technology
point of view and underlying characteristics of virtual teams and
challenges they entail. Finally, we have identified and extended 12 key
factors that need to be considered, and describes a methodology focused
on supporting virtual team working, with a new approach that has not
been specifically addressed in the existing literature and some guide
line for future research extracted.