When it comes to creating an effective team, cohesion is far more important than co-location.
Virtual meeting and collaboration tools can be a great servant, but not a great master. Rather than letting technology dictate processes, a virtual team should aim to take effective face-to-face working practices and adapt them to work virtually.
A shared vision, which is understood by all team members, acts as an anchor for decision making. Each team member’s responsibilities should be in service of the collective purpose.
A virtual environment should support relationship development, not simply communication.