virtual corporation

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Virtual Corporation

The act in which independent companies work together as an association to accomplish mutually beneficial goals. Virtual cooperation is temporary and may be used for only a single project. However, for the duration of the project, the companies act as if they were a single corporation.

virtual corporation

a firm which minimizes its internal hierarcy and maximizes its dealing with outside (i.e. market) suppliers and customers. Given today's rapidly changing technological and competitive conditions a firm needs to be more flexible in responding to changing business circumstances. To this end the firm should avoid VERTICAL INTEGRATION (and its associated AGENCY COSTS) and OUTSOURCE inputs as much as possible and deal only with independent distributors and dealers, using such new technologies as E-COMMERCE to reduce external TRANSACTION COSTS. See VERTICAL DISINTEGRATION.
References in periodicals archive ?
The individual will, by and large, achieve self-actualization from the performance of the network, the virtual company and also the node he/she works in.
he National Business Olympiad is a management simulation game played online where participants in teams of three functions as CXOs of a virtual company and compete against other teams in a virtual marketplace.
For the sake of the modelling of any kind of deal, be it co-development, an early-stage joint venture, profit sharing, or a plain license deal with possible later sublicensing, the virtual company model is a very useful and explanatory method to determine fair deal terms.
If a company cannot accomplish everything at once, perhaps a virtual company can.
OTTAWA -- From the time Paul Roper first thought about starting Proper Placement, his vision was to create a virtual company.
The new operating model called The Virtual Company provides an integrated platform to help companies achieve a secure, fast start up of back office operations to support innovation, new business start-ups, mergers and acquisitions, new product and market launches.
We're working from the customer's words, and we just reconfigure the company - though it's really a virtual company, one that only exists in cyberspace.
4 percent) said they want to shift to a completely virtual company in the next five years.
Participants face a range of challenges: making strategic decisions in marketing, production, personnel, finance, logistics, while increasing the price of their virtual company s stock on the simulated stock market and competing with other teams.
Headquartered in Naperville, Illinois, the virtual company employees over 40 highly-skilled professionals - all telecommuting - from as far away as Spain.
In 2012, newly formed Proxus Management LLC turned to Yardi for a property management solution that accommodated its vision of a 100% virtual company that prints no paper and requires little physical infrastructure.
Emprendedor Latino" is an Internet-based competition that will enable more than 2,500 students to make simulated management decisions and run their own virtual company while receiving advisement from AT&T executives as well as from representatives of other participating organizations.

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