Revolutionizing Efficiency: The Impact of Virtual Organizations on Transforming Management Dynamics Revolutionizing Efficiency: The Impact of Virtual Organizations on Transforming Management Dynamics
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Abstract
The concept of virtual organizations emerged in the 1990s as a solution to address challenges and leverage information technology. The paper discusses the revolutionizing efficiency and impact of virtual organizations on transforming management dynamics. Organizations need to adapt and plan for the future in order to respond to the rapid changes in the technological landscape. In the past,organizations relied on strategies such as monopolies to survive, but in the age of information technology, they need to be fast and responsive to meet customer demands. Virtual organizations are created through the collaboration of multiple organizations, leveraging information technology for efficient communication and convenience. These organizations require flexibility, responsiveness, and cost-effectiveness to thrive in the current business environment.
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