Virtual Organisation

Virtual Organisation (VO) refers to an organisational business concept which includes major elements of collaboration among a consortium of member companies, and integration of their core competencies needed to develop new and customized products or services. This concept is based on responses to the customers' ever-increasing demand or changing value, prompt reaction to changes in the market conditions, and shareholders' wealth creation expectancy. Therefore, the advances in ICT in the face of the changing market conditions, the growth and expansion of globalisation and the global marketplace led to the emergence of the VO. In consideration of the existing numerous research in business and Information and Communication Technology (ICT), this study examines a theoretical basis for value creation where a new strategic paradigm is created for corporate value and VO by applying the use of information and advanced ICT to compete in the global marketplace. The concept of VO introduces an ICT business model that links and integrates enterprise strategic, operational and tactical issues.