Virtual Teams and the Rise of e-Entrepreneurship in Europe

Abstract

In recent years new forms of entrepreneurship have begun to emerge from the synergies between Information and Communication Technology (ICT) developments and changing paradigms of economic transactions. The resulting ‘turbulence’ within the international small business community has facilitated the evolution of innovative organizational forms that are structured dynamically to ensure sustainable competitive advantage in local, national or global markets. ‘Virtual Teams’ consist of groups of geographically distributed individuals (entrepreneurs) who interact through interdependent tasks and are led by common (entrepreneurial) interests and/or goals. This article focuses upon the emergence of Virtual Teams that increasingly form the competitive core of successful e-Entrepreneurship in Europe. Based upon the results of 15 longitudinal case studies from the European Tourism and Hospitality Industry, it identifies and considers the stages and processes specific to Virtual Teams, from formation to the fulfilment or adjournment of specific tasks and projects. The advantages and disadvantages of Virtual Teams of e-Entrepreneurs are additionally documented and discussed.