engleski

Management Practices and Strategies in a Virtual Economy

The objective of this paper is to attend on the new realities of today’ s global marketplace with a special regard to the new model of providing business virtually. Virtual business enables much larger flexibility, innovative and adaptability than the traditional way of providing business. That has become the crucial point for changes of management practices and strategies in a new virtual economy. Providing business in different physical locations influences numerous critical, interconnected activities of management. Therefore some a new for of management appears – a virtual management. Virtual management means work management in different geographic locations and by people who have never met before. They are only connected by working in a virtual organization or on a certain virtual project and are linked by information and communication technology. Two basic ways of creating a virtual enterprise can be distinguished. The first is forming a virtual organization as a temporary virtual project which is created in order to seize a market opportunity. In this way a brand-new (virtual) enterprise emerges. The second way is linking and networking the existing traditional firms into a new virtual enterprise with a purpose to increase the individual efficiency.

New economy; virtual economy; virtual enterprise; virtual management; linking and networking

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