1. The most significant challenge to business success you see in this rapidly changing global economy;

One significant challenge to business success in this rapidly changing global economy is that many business are focused on efficiency and economic of scales. Just like the example provided by Michael H. Hugo on Chapter 1, many companies are focused on lowering operating cost as much as possible. This is causing for executives not leave any room for unpredicted changes limiting the company’s ability to respond to customer’s changing needs.

2. An organization that has been successful in the global marketplace using virtual teams and the best practices it used (as discussed in Chapter 7 of Business Agility: A Sustainable Prosperity in a Relentlessly Competitive World);

One organization that has been successful in the global market place using virtual teams is Bethel Farms. This organization acquired it most expensive product from Brazil. In order to do this and to continue to do this when needed, management developed a virtual team with key members of the organization. One of the reasons this team has been successful is because it has the important characteristics discussed by DeRosa and Lepsinger in Virtual team Success: A Practical Guide for Working and Leading from a Distance. This team has: 1. A clear team leader. 2. Each team member has a clear role. 3. The team knows what the goals and objectives are. 4. There are scheduled face to face meetings every three months.
On his book, Business Agility: A Sustainable Prosperity in a Relentlessly Competitive World, Chapter 7, Michael H. Hugo states: ‘Executive Behavior Defines the Workplace”. One of the toughest challenges this team faced was the downsizing of the company back in 2012. Since most of the virtual team members were remote workers, management made sure to address any and all