Introduction to Minitrack on Virtual and Knowledge-based Organization

The explosive growth of the virtual space such as internet and on-line service networks as well as proprietary corporate networks will change the business environment of the 21st century fundamentally. Capability of the instantaneous communication among business partners and availability of the near perfect information on the marketplace will strengthen the responsiveness and intelligence of the firm in meeting customer needs. Unlike in the physical space, however, we are bound to encounter more challenges in the virtual space as business cycle time shrinks, markets become more fragmented, and customers become invisible yet more demanding.