Virtual Business Defined (Sort of)
...Wikipedia defines the term as follows: “A virtual business employs electronic means to transact business as opposed to a traditional brick and mortar business that relies on face- to- face transactions with physical documents and physical currency or credit.”
Our use of the Wikipedia definition is very deliberate. We are very aware that some readers will cringe as they read the word “Wikipedia” and immediately challenge the validity of the definition. However, we believe that Wikipedia is an excellent source of material, especially given the subject of the book. Throughout Business Goes Virtual, we will use a variety of high- quality online references including blogs, wikis, social media, and corporate web presences as well as more traditional academic sources such as peer- reviewed journal articles, books, and conference proceedings. We will select the sources carefully; however, we will not differentiate based on whether the source is from electronic or paper media....
From our study of businesses in the domain, we define the term as follows: A virtual business provides innovative solutions to new and traditional business challenges by exploiting social technology, leadership, and collaboration in both the real and virtual worlds.
PART I - THE CONVERGENCE