What defines a virtual company?

A virtual company is characterized by its reliance on digital communication and technology to operate without a physical office space. This model allows for flexibility, cost savings, and access to a global talent pool. To better understand what defines a virtual company, we can explore several key aspects. What are the primary characteristics that distinguish a virtual company from traditional businesses? How does the absence of a physical office impact the company's operations and culture? In what ways do virtual companies leverage technology to enhance collaboration and productivity? Additionally, what challenges do these companies face in maintaining effective communication and team cohesion? In summary, a virtual company is fundamentally defined by its use of technology and digital communication to function without a physical presence. By examining its defining traits, operational impacts, technological utilization, and the challenges it encounters, we can gain a comprehensive understanding of this modern business model.