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Virtual collaboration tools allow individuals and workgroups to work together on a project from any location in the world, increasing efficiency and reducing costs. However, they may negatively impact sectors such as airlines and venues, and may lead to lower wages in some locations.
Virtual collaboration is a process by which individuals and workgroups can communicate and work together on a single project from any location in the world through the use of technology. Since 2005 there has been a significant increase in the power and popularity of the virtual collaboration tools available. These tools allow businesses and organizations to combine their creative and management efforts in real time without the need to travel to a specific meeting location. The agility of these tools has enabled companies and organizations to develop products and complete projects in a more efficient, cost-effective and environmentally friendly way.
There are a number of virtual collaboration tools available for organizations, small groups, and individuals who want to participate in projects virtually. The most basic type of virtual collaboration tool is the teleconferencing system, which allows large groups of people to hold a meeting and discuss a project from anywhere. Prices for web-based virtual collaboration tools and software range from low-cost options like Google’s collaboration applications for business to high-end solutions like Microsoft Enterprise software.
Virtual collaboration tools appeal to a large variety of businesses due to the cost-saving and efficiency benefits associated with these systems. They enable large companies to tap into a global workforce or commission a non-local business expert without increasing the overhead associated with expanding physical office space to make room for additional employees or independent contractors. The emergence of collaboration tools also means that companies have the ability to offer additional telecommuting opportunities to employees, which can improve work-life balance and overall employee satisfaction. Virtual collaboration tools also enable smaller organizations to become more competitive. Small businesses and start-ups can use these tools to leverage a large workforce without the need to provide equipment or office space to contractors.
While the benefits of virtual collaboration appear to be substantial, some sectors of the economy may be prone to negative side effects of these low-cost, environmentally conscious business tools. When companies are able to host meetings via teleconferencing or virtually over the Internet, airlines and venues will suffer a revenue shortfall. The ability of firms to tap into a global market of entrepreneurs may also mean that average wages in some locations will decline as foreign employees of firms may be willing and able to deliver similar or even superior results at a lower price than domestic workers. .
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