Abstract
Virtual teams work in conditions of great uncertainty and specific requirements of the virtual environment. Therefore, when establishing successful virtual teams, special attention should be paid to the selection of their members, which largely influences the efficiency in fulfilling the project tasks. Assessment of competencies is of great importance in gaining insights into staff capacities, their potentials and limitations to predict their individual success or team success better. However, without competent managers who manage and develop virtual teams, one cannot imagine the whole concept. Accordingly, the main goal of this paper is to determine the key competencies of virtual team members, as well as their managers who determine performance of virtual organizations. In order to determine the key competencies of virtual teams on the one hand and the competencies of their managers on the other, the literature review and the latest research in this domain were used. The paper concludes that competent managers should use a wide range of new, technologically-supported options in formulating their strategies with the aim to respond to changes rather than just reacting to them. Also, the authors state that many examples in Europe show a comparative advantage in the implementation of new technologies by employees. Implementation of information technology in education helps managers to accept new ideas faster than others.
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