This book strengthens the intuitive with the scientific in managing Virtual Organizations (VO) that are proliferating exponentially, due to the twin catalysts of globalization and technology enablement. It provides conceptual frameworks and simple tools to diagnose and deal with the complexities of managing geographically dispersed, virtually-linked organizations, which might have grown organically or inorganically, into a potpourri of multiple cultures, capabilities and practices. These can help to objectively assess the impact of virtualization, balance the physical with the virtual and manage risks through early indicators. It highlights that it is not geographic distance but multiple dimensions of Virtual Distances that are difficult to transcend. The book provides mechanisms to recognize, localize, measure and address these distances and vulnerabilities, besides assessing the structural robustness of the VO. Knowledge Transfer Effectiveness becomes critical, in a milieu where success is predicated on an organization’s ability to operate seamlessly across multiple boundaries. A diagnostic tool has been evolved to measure KTE and isolate problems and weak links to plan effective interventions. A set of critical success factors that could give the globalization strategies of organizations a higher probability of success 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. These reveal some important patterns, some of them counter-intuitive. The strong methodological underpinnings could serve as a useful template for researchers. The models described in this book can be contextualized to suit any organization and enable transposability of learnings, both within and across organizations. The book highlights the fact that VOs might have to be guided by a different set of triggers and inputs for managerial decision-making.