ROLE OF VIRTUAL ORGANIZATIONS - Research Paper Example

Results were as expected and the findings implied that virtual organizations offer a fashionable way of carrying out virtual businesses guaranteeing proper communication between the employees and e-consumers, ensuring low cost management, promising time-saving transactions and assuring a well collaborative environment with safe conduction of e-commerce, all based on some pixels on the computer screen. Current theories focus on the virtual world which is an online imaginary world or cyberspace world where people live imaginary lives, also called the Second Life, in which they establish and maintain businesses and make real money.

The business in a virtual world is referred to as virtual business, the product produced is called virtual product, but the money made is real. In a virtual organization (VO), nothing really exists, or exists “as pixels dancing on the computer screens of people who inhabit the online virtual world” (Hof). Businesses are carried out on personal computers. Businessmen log into their accounts, interact with their employees, get updated about their performances, carry out commerce online, pay salaries using online payment websites, shop online and make sales online.

A VO is a complete world in itself, having virtual products, goods and services. It has its own virtual economy which can even let one own a piece of land. The virtual currency can even be converted in to real dollars. VOs have made business possible that only exists in somebody’s brains without the need of tables, desks, chairs, offices, buildings, and cups of tea over meetings. Research has shown that VOs also play a major role in carrying out e-commerce, very much similar to real world.

There are auction sites where one can place bids or sell something that one owns. One makes payments and gets paid online. There are shopping websites that let you shop whatever you want while sitting in the comfort of