This book comes at a time when virtual organizations (VO), are proliferating exponentially due to the twin catalysts of globalization and technological enablement. It provides conceptual frameworks and simple tools for identifying and addressing the complexities of managing geographically dispersed, virtually linked organizations, which may have grown organically or inorganically into a potpourri of multiple cultures, capabilities and practices. These can help to scientifically assess the impact of virtualization, balance the physical with the virtual and manage risks using early indicators. The book provides mechanisms to recognize, localize, measure and address vulnerabilities. Ensuring knowledge transfer effectiveness (KTE) is vital in VOs. A diagnostic tool has been evolved to measure KTE, isolate problems and weak links and plan effective interventions. A set of critical factors to increase the probability of success of globalization strategies have been identified. This book interleaves theory with practice and provides insights drawn from conversations with business leaders, exploratory surveys, and in-depth research using a large sample. The solid methodological underpinnings serve as a useful template for researchers, while the models can be contextualized to suit any organization. Foreword by Mr. Ajit Balakrishnan, Chairman and CEO, Rediff.com; Chairman, Board of Governors, Indian Institute of Management Calcutta.