The virtual organization is a form where only what is used has to be paid for. It has the capability of the real organization, but does not itself have the tangible facilities and permanent employees that is the traditional way of meeting the requirements of customer. It is a concept which gives flexibility, lower overall cost, and reduces the capital needs of a business. It is equally applicable to new and established businesses, and can provide both with a means of achieving success in business development and renewal. Like others in this series, this book provides a practical guide for managers and entrepreneurs. It shows how those with vision and energy, who do not have the facilities of a large traditional company, can nevertheless achieve success, with no competitive disadvantages. The book shows how to expand and grow without enlarging the organization, and how to gain access to competences without employing more staff. Well illustrated with case histories and examples, the book reflects the experience of the authors in actually applying the concepts they write about. Checklists and questionnaires are provided where they are helpful. Practical experience is supported by research, and the result is a practical guide to setting up and managing this new form of organization. "Bo Hedberg is again out in front and leading us into the future of management. Managerial insight and advanced technology are making it possible to create coalitions with the advantages of both markets and hierarchical organizations. In this book, Hedberg and his colleagues explain how these coalitions work and what they need to work best". William H. Starbuck, ITT Professor of Creative Management, Stern School of Business, New York University "Professor Hedberg"s and his colleagues" pioneering work in identifying and highlighting what makes virtual organizations tick is very timely. The competitive environment in financial services requires that highly motivated professionals voluntarily share their best ideas and dreams with their leaders to ensure customer satisfaction. The authors have rightly identified this crucial point in our success story." Jan R. Carendi, Senior Executive Vice president, Skandia AB and Chief Executive Officer, Skandia Assurance & Financial Services.