“…From a different perspective virtual teams are formed to facilitate transnational innovation processes (Gassmann, and von Zedtwitz, M., 2003) and innovation has a positive impact on corporate performance (Kafouros et al 2008) also a virtual network structure is used to improve communication and coordination, and encourage the mutual sharing of interorganizational resources and competencies (Chen et al, 2008b).To be more exact virtual teams are useful for projects that require cross-functional or cross boundary skilled inputs and the key to their value creation is to have a defined strategy in place to overcome the issues highlighted, especially the time zones and cultural issues .While communication could be seen as a traditional team issue, the problem is magnified by distance, cultural diversity and language or accent difficulties. For migration or similar large-scale projects, personal project management competency, appropriate use of technology and networking ability, willingness for selfmanagement, cultural and interpersonal awareness is fundamentals of a successful virtual team (Lee-Kelley and Sankey, 2008).…”