‘Virtual teams’, ‘virtual resourcing’ and ‘contingent workforce’ are fancy ways of saying outsourcing.
They’re modern terms, but their development is based on the very old business adage of ‘do what you do well and rely on others for the rest’.
Globalisation and technological advances mean small to medium-sized enterprises (SMEs) are increasingly outsourcing to drive efficiencies, but managing virtual teams also presents its own challenges.
In the following cheat sheet we have provided 7 tips for managing outsourcing partnerships and virtual teams.
If you would like advice on whether or not outsourcing would benefit your business, contact the business advisory team at JPAbusiness for an obligation-free discussion.
James Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.