Virtual Enterprise
A virtual enterprise is a network of independent companies—suppliers, customers, competitors, linked by information technology to share skills, costs, and access to one another's markets. Such organizations are usually formed on the basis of a cooperative agreement with little or no hierarchy or vertical integration. This flexible structure minimizes the impact of the agreement on the participants' individual organizations and facilitates adding new participants with new skills and resources. Such arrangements are usually temporary and dissolve once a common goal is achieved. A virtual enterprise is rarely associated with an independent legal corporation or brick and mortar identity of its own.
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Famous quotes containing the words virtual and/or enterprise:
“Tragedy dramatizes human life as potentiality and fulfillment. Its virtual future, or Destiny, is therefore quite different from that created in comedy. Comic Destiny is Fortune—what the world will bring, and the man will take or miss, encounter or escape; tragic Destiny is what the man brings, and the world will demand of him. That is his Fate.”
—Susanne K. Langer (1895–1985)
“So far as inland discovery was concerned, the adventurous spirit of the English was that of sailors who land but for a day, and their enterprise the enterprise of traders.”
—Henry David Thoreau (1817–1862)