Leading virtual teams

Thanks to an ever-advancing technology and the ensuing development of new media, the boundaries between private and professional life become rather blurred, with digital tools enabling affordable, easy and fast communication, cooperation, organization and production. Organizations everywhere are recognizing the possibilities and benefits to be derived, and are developing cross-border work models to accommodate the new "economic world order", where nothing is bound to a stationary, existing location anymore. Prime targets are, in particular, virtual teams, whose team members predominantly communicate by information and communication technologies (ICT). There are, however, new challenges to face and solutions to be found. What exactly lies ahead of us? What factors are key to a successful virtual team? Where do present virtual teams stand, and what will future virtual teams look like? The global management consulting firm Hay Group in collaboration with FKI - Fuhrungskrafte Institut have asked both experts and leadership in a survey to share their opinion (N = 289). The results of the survey have shown that virtual teams are a very common form of cross-border work and will gain importance in the future. Furthermore, those six factors determining the success of a virtual team in particular degree, could be identified by the survey. Worth mentioning here in particular are the development of trust and the team leader.