Globally, virtual teams (VT) as ICT-enabled emergent network organisation forms have gained international validity by innovative organisations, with a corresponding surge of interest in understanding how organisations can leverage VT to create business value. Despite growing deliberations in VT literature on managing VT, tasks and outcomes, however, creating business value through VT remains an unresolved theoretical and pragmatic conundrum. A review of prior relevant literature is essential to advancing knowledge. The paucity of published review articles seems to have impeded the field's accumulation of VT knowledge. This research, therefore, reviews the current literature on case studies of VT to address the question: What are organisational challenges in creating business value through VT in the organisation? The key challenges found in the literature are effective communication, knowledge sharing, trust, and interpersonal skills in the new virtual boundary-less environment. Drawing on the IT business value model, we also discuss their resource-based implications.