• Identify strategies to make virtual teams more productive

It is often difficult to manage a virtual team because one is required to create a corporate culture remotely. For a virtual team to be productive, it is essential to define the work system. People have different approaches to handling their responsibilities. Team leaders should set standards to abridge the time required to accomplish the expected outcome.Setting work standards that would allow for maximum effectiveness and tailored towards an individual culture would give relative freedom to perform the task at the best of one’s ability. Secondly, establishing multiple communication channels would enhance effective communication with the team members, creating an internal feeling of togetherness. Effective communications improve the sharing of ideas and opinions among the members, increasing the chances of making effective decisions. Most importantly, the team will be productive when there are clear and detailed deliverables. It is essential to provide a more detailed description of the tasks and expectations of each member of the team. Lastly, a virtual team would be productive when there is a professional work environmentthat encourages teamwork and collaboration; which elements of a productive group.

• Identify and discuss in detail, Knowledge Management (KM)

Knowledge management is a systematicapproach to the management of a firm’s knowledge assets with the aim of developing value and achieving strategic and tactical need.It is composed of incentives, processes, people, technology, strategies, as well as systems which support and improve the storage, valuation, sharing, modification as well asthe creation of knowledge.KM denotes a strong relationship between strategy and organizational goals. It is regarded as a scientific process because it deals with information in its various forms. It entails data mining and specific methods of operation to communicate with the users. A knowledge management plan involves surveying organizational and carefully examining the toolsneeded to address the requirements of the organization. The testof selecting a knowledge management system is to build or buy software that would fit the aspects of the general plan and urge employeesto applythe system in sharing information. The knowledge management system aims to enable managers to arrange and pinpointrelatedcontent and the know-how needed to handle specific business projects and tasks.

• Identify and discuss the factors that affect the decision to buy versus custom-building (in-house) software

There has always been significant debate on whether to buy or build software. The factors that influence the decision tocustombuild or buy software include but not limited to strategy, commodity, maturity, competitive advantage, commodity, cost, and requirement fit. IT strategy drives the buy/build decision approach. A company with a buy IT strategy will opt to phase out the development completely or maintain a few development capabilities. Those who are build-oriented will strategically choose to maintain a build capacity. Another factor in play is the presence of a commodity or competitive. Commodity capabilities will encourage the buy approach, but systems that provide competitive advantage may consider the build approach. It is also important to note that the adoption of a build approach should be considered in light of suitablenecessary competencies. A build option is more likely if the development occurs as an essential competency. Companies that consider build approach have opted to maintain an in-house ability, but those that favor buying may have largely shifted or started movingIT profiles farfrom development toproject analysis and management. Requirement fit is another significant factor. Business requirement satisfaction is another factor of great significance.

References

Becerra-Fernandez, I &Sabherwal, R (2014) Knowledge management: Systems and processes, Routledge, New York, and London.

Berry, G. R. (2015). Enhancing Effectiveness on Virtual Teams. Journal of Business Communication, 48(2), 186–206.

Rosen, J. (2014) Build Versus Buy: A fresh look & other gotchas, Wall Street & Technology (19) (10): 71-72.

 
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