Virtual teams work through information technologies and are becoming increasingly important with increasing globalization in today's world. Virtual team members are dispersed across different locations, as they operate globally. Virtual team members interact electronically and may occasionally meet face-to-face. Our society is transforming towards knowledge-based work, which underlines that knowledge is an important competitive advantage. Organizations are moving from production-based operations to knowledge-based operations. Globalization and organizational learning processes are dramatically increasing the need for virtual teams. Virtual teams motivate members to collaborate and share knowledge, even if distance might seem to limit this interaction. Global organizations rely on virtual operations to balance their human capital. For virtual teams to be effective, team members must have the ability to communicate effectively through technology. Many believe that members should meet early in team development to ensure organizational effectiveness. Globalization is essentially about opening new borders, and increasing technology has allowed our environment to be characterized as global. Global economies offer companies the opportunity to market products and services around the world. Globalization has also allowed companies to establish alliances, which have become vital to success in business today. Virtual teams are developed for different purposes, depending on the goals of the specific organization. For example, team members may not be physically co-located. It may not be practical for members to travel to meet in person. Another possible reason could be because… middle of paper… learn how to effectively develop and manage virtual teams. Teams are not designed the same way they were in past generations. The nature of teams has changed dramatically due to changes in organizations and the nature of the work they do. Relationships between people inside an organization and those outside are becoming increasingly important. Organizations have understood the value of collaborative working. Knowledge management has become significant in organizations, emphasizing the learning of organizational members so that it is available to the entire organization. Virtual teams are having a greater impact as organizations develop across different geographies and industries. Works CitedMcShane, Steven L., and Mary Ann Von Glinow. Organizational behavior: Emerging knowledge and practices for the real world. 5th ed. New York: Paul Ducham, 2010. Print.