The Use Of Social Media And Collaborative Tools For Virtual Teaming - A Global Market Reach Out By Navibank

Abstract

In recent years, social networking sites have witnessed a signi?cant growth in popularity and membership. These social networking sites like Facebook or LinkedIn use tools that also appeal to businesses. One important area of business application of social networking is to improve communication and trust relationships among virtual project teams (Sarker, Ahuja & Kirkeby, 2011; Anantatmula & Thomas, 2010). In this paper, the authors report the use of social media tools for virtual teaming for a large Vietnamese bank, Navibank.  The paper delves into the strategic initiative and expansion into global markets using virtual project teams that communicated mostly through social media tools and services.  Navibank (hereafter known as the Bank) is one of the top ten largest commercial banks in Vietnam. In a large project of opening ten branches of the Bank in Cambodia by the end of 2015, social media tools like Skype, e-mail, Facebook, instant messaging and video conference are being used by the Bank teams in Vietnam to communicate and work effectively with the new teams that are being formed in Cambodia.