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A Brief Analysis of the Characteristics of Virtual Team and Its Application in Financial Field

Shuyi Mu, Qiwei Li

Abstract


After 80 years of development, virtual team is gradually used by more and more institutions in the financial industry, including
banks, securities companies, accounting institutions and so on. However, the general public’s understanding of the reasons and purpose of
the introduction for virtual teams in these organizations and the problems it creates are very vague. In order to clearly understand its basic
nature, the impact on leadership and its future development trend, this paper combines the literature research method and case study method,
and draws a conclusion that virtual teams bring cost reduction and innovation to enterprises, but it generates trust problems and pose new
challenges to leadership as well. But under the general trend, according to the existing evidence that can be found on the internet, it has great
potential to be applied in the financial field on a large scale in the future to help enterprises transform and collaborate.

Keywords


Virtual Team; Financial Institution; Innovation; Leadership

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References


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DOI: http://dx.doi.org/10.18686/fm.v8i6.11734

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