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Virtual Corporation
A virtual business (short: virtubis) employs electronic means to transact business as opposed to a traditional brick and mortar business that relies on face-to-face transactions with physical documents and physical currency or credit. History Amazon.com was a virtual business (short: virtubis) pioneer. As an online bookstore, it delivered and brokered bookstore services without a physical retail store presence; efficiently connecting buyers and sellers without the overhead of a brick-and-mortar location. As Web 2.0 services have risen in popularity, many businesses have begun to use these communicative and collaborative technologies to reach their customers. With heightened security, PCI DSS compliance regulations, and more stringent monitoring abilities, credit card transactions via the Internet are even more secure than other options such as phone or fax. Along with connecting customers with physical products, virtual businesses are starting to provide important services as well. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brick And Mortar
Brick and mortar (also bricks and mortar or B&M) refers to a physical presence of an organization or business in a building or other structure. The term ''brick-and-mortar business'' is often used to refer to a company that possesses or leases retail shops, factory production facilities, or warehouses for its operations. More specifically, in the jargon of e-commerce businesses in the 2000s, brick-and-mortar businesses are companies that have a physical presence (e.g., a retail shop in a building) and offer face-to-face customer experiences. This term is usually used to contrast with a transitory business or an Internet-only presence, such as fully online shops, which have no physical presence for shoppers to visit, talk with staff in person, touch and handle products and buy from the firm in person. However, such online businesses normally have non-public physical facilities from which they either run business operations (e.g., the company headquarters and back office facilitie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability Company
A limited liability company (LLC for short) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). An LLC is a hybrid le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virtual Team
A virtual team (also known as a geographically dispersed team, distributed team, or remote team) usually refers to a group of individuals who work together from different geographic locations and rely on communication technology such as email, instant messaging, and video or voice conferencing services in order to collaborate.Gibson, C. B., and S. G. Cohen (2003). Virtual Teams That Work: Creating Conditions for Virtual Collaboration Effectiveness. San Francisco: Jossey-Bass.Martins, L. L., L. L. Gilson, and M. T. Maynard 2004 “Virtual teams: What do we know and where do we go from here?” Journal of Management, 30: 805–835. The term can also refer to groups or teams that work together asynchronously or across organizational levels. Powell, Piccoli and Ives (2004) define virtual teams as "groups of geographically, organizationally and/or time dispersed workers brought together by information and telecommunication technologies to accomplish one or more organizational tasks." As d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virtual Office
A virtual office is part of the flexible workspace industry that provides businesses with any combination of services, space and/or technology, without those businesses bearing the capital expenses of owning or leasing a traditional office. Virtual office services started in the 1960s as serviced offices and have evolved with technology to include a wide variety of personnel, physical space, digital storage and communication services. Customers pay a contract fee for these services which may be offered à la carte, as packages or membership subscription. The concept is popular with companies of all sizes, including self-employed entrepreneurs. One of the primary allures of the virtual office is the flexibility it offers for employees and freelancers to work from a satellite office, home office, remote location or even on-the-go via a mobile device. At the same time, a company can offer its clients and employees a stable home office with access to amenities such as receptionist, co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virtual Management
Virtual management, is the supervision, leadership, and maintenance of virtual teams—dispersed work groups that rarely meet face to face. As the number of virtual teams has grown, facilitated by the Internet, globalization, outsourcing, and remote work, the need to manage them has also grown. The following article provides information concerning some of the important management factors involved with virtual teams, and the life cycle of managing a virtual team. Due to developments in information technology within the workplace, along with a need to compete globally and address competitive demands, organisations have embraced virtual management structures. As in face-to-face teams, management of virtual teams is also a crucial component in the effectiveness of the team. However, when compared to leaders of face-to-face teams, virtual team leaders face the following difficulties: (a) logistical problems, including coordination of work across different time zones and physical dista ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virtual Community Of Practice
An online community of practice (OCoP), also known as a virtual community of practice (VCoP), is a community of practice (CoP) that is developed on, and is maintained using the Internet. To qualify as an OCoP, the characteristics of a community of practice (CoP) as described by Lave and Wenger must be met. To this end, an OCoP must include active members who are practitioners, or "experts," in the specific domain of interest. Members must participate in a process of collective learning within their domain.Wenger, E. (2007). Communities of practice: A brief introduction. Retrieved October 5th, 2010, from http://www.ewenger.com/theory/ Additionally, social structures must be created within the community to assist in knowledge creation and sharing. Knowledge must be shared and meaning negotiated within an appropriate context. Community members must learn through both instruction-based learning and group discourse. Finally, multiple dimensions must facilitate the long-term management of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Distributed Development
A distributed development project is a research and development (R&D) project that is done across multiple business worksites or locations. It is a form of R&D where the project members may not see each other face to face, but they are all working collaboratively toward the outcome of the project. Often this is done through email, the Internet and other forms of quick long-distance communication. Mitch Kapor, How to Build a Successful Company', lecture to Stanford University entrepreneurship students, 2008-01-16. Distributed development was largely pioneered by the open-source software community. It is different from outsourcing because all of the organizations are working together on an equal level, instead of one organization subcontracting the work to another. It is similar to a virtual team but with a research element. Characteristics of distributed development Developers are distributed across multiple locations and work on the same project or product. The reasons for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vertical Integration
In microeconomics, management and international political economy, vertical integration is a term that describes the arrangement in which the supply chain of a company is integrated and owned by that company. Usually each member of the supply chain produces a different product or (market-specific) service, and the products combine to satisfy a common need. It contrasts with horizontal integration, wherein a company produces several items that are related to one another. Vertical integration has also described management styles that bring large portions of the supply chain not only under a common ownership but also into one corporation (as in the 1920s when the Ford River Rouge Complex began making much of its own steel rather than buying it from suppliers). Vertical integration and expansion is desired because it secures supplies needed by the firm to produce its product and the market needed to sell the product. Vertical integration and expansion can become undesirable whe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hierarchy
A hierarchy (from Greek: , from , 'president of sacred rites') is an arrangement of items (objects, names, values, categories, etc.) that are represented as being "above", "below", or "at the same level as" one another. Hierarchy is an important concept in a wide variety of fields, such as architecture, philosophy, design, mathematics, computer science, organizational theory, systems theory, systematic biology, and the social sciences (especially political philosophy). A hierarchy can link entities either directly or indirectly, and either vertically or diagonally. The only direct links in a hierarchy, insofar as they are hierarchical, are to one's immediate superior or to one of one's subordinates, although a system that is largely hierarchical can also incorporate alternative hierarchies. Hierarchical links can extend "vertically" upwards or downwards via multiple links in the same direction, following a path. All parts of the hierarchy that are not linked vertically to one ano ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virtual Enterprise
A virtual enterprise (VE) is a temporary alliance of businesses that come together to share skills or core competencies and resources in order to better respond to business opportunities, and whose cooperation is supported by computer networks. It is a manifestation of distributed collaborative networks. A virtual enterprise is a particular case of virtual organization. Virtual enterprises have become increasingly common in the area of research and development, with often far-flung organizations forming alliances that amount to a "Virtual Research Laboratory." Vassiliou (2007) outlined a broad continuum of possible virtual laboratory relationships, ranging from relatively simple outsourcing by a central organization to tightly knit consortia of collaborating entities. Definitions Several definitions include: * "…a temporary network of independent institutions, businesses or specialised individuals, who work together in a spontaneous fashion by way of information and commun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
S Corporation
An S corporation, for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S corporations do not pay any income taxes. Instead, the corporation's income and losses are divided among and passed through to its shareholders. The shareholders must then report the income or loss on their own individual income tax returns. Overview S corporations are ordinary business corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. The term "S corporation" means a "small business corporation" which has made an election under § 1362(a) to be taxed as an S corporation. The S corporation rules are contained in Subchapter S of Chapter 1 of the Internal Revenue Code (sections 1361 through 1379). The United States Congress, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
