When a Firm Uses IT to Create Virtual Organizations of Business

question 78

True/False

When a firm uses IT to create virtual organizations of business partners, it is pursuing a growth strategy.

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Definitions:

Online Pastimes

Activities or hobbies that individuals engage in on the internet, such as gaming, social media, or consuming digital content.

Virtual Meetings

Gatherings conducted via telecommunication technologies, allowing participants to interact without physical co-location.

Competitive Advantage

The distinctive characteristics or situations that enable a company to surpass its rivals in performance.

Low Costs

A strategy or situation characterized by minimal expenses or financial outlay, aimed at achieving competitive advantage or operational efficiency.