This question contains two parts; be sure to answer both. First, define a virtual team and explain some of its benefits. Second, suppose you are the leader of a virtual team that writes test questions for the SAT test. Your team is composed of six members who live and work in three different countries—question writers, question testers, and administrative assistants. What are some of the challenges you might face in leading the team, and what techniques might you use to face those challenges?
What will be an ideal response?
Virtual teams work together over time and distance via electronic media to combine effort and achieve common goals. Advocates say that virtual teams are very flexible and efficient because they are driven by information and skills, not by time and location. People with needed information and/or skills can be team members, regardless of where or when they actually do their work. Potential benefits of virtual teams include reduced real estate costs; the ability to leverage diverse knowledge, skills, and experience across geography and time; ability to share knowledge of diverse markets; reduced commuting and travel expenses; and better work-life balance for employees.
Students should explain the challenges they might face in leading their virtual team, and how they might go about facing these challenges.
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An alternative to being a market follower in a large market is to be a leader in a small market. This type of competitor is called a ________
A) marketing king B) market nicher C) segment king D) guerilla marketer E) strategic clone
Answer the following statements true (T) or false (F)
Proregulation arguments as well as arguments for unregulated markets are largely deductively reasoned rather than empirically researched.
Stated value of no-par stock is:
A. The market value of the stock on the date of issuance. B. Another name for redemption value. C. An amount assigned to par value stock by the state of incorporation. D. The difference between the par value of stock and the amount below or above par value paid-in by the stockholder. E. An amount assigned to no-par stock by the corporation's board of directors.
Economies of scale are illustrated by
A) a company declaring that they will not have sales, but will maintain very low prices all the time. B) the price of a taxi ride service increasing after 2 a.m. C) a supplier using a third party logistics firm. D) a supplier waiting until enough demand has built up to send a full truckload shipment to their customer.