The virtual company has been made possible by developments in which area?

The concept of a virtual company is primarily enabled by advancements in information technology (IT). Technology in this area has transformed how businesses operate, communicate, and deliver services, allowing companies to function without a physical presence in a traditional office setting.

Thanks to developments in IT, businesses can utilize tools such as cloud computing, remote collaboration software, and high-speed internet to connect employees, clients, and suppliers from various locations across the globe. This has led to increased flexibility and efficiency since team members can work from anywhere, and businesses can operate with reduced overhead costs associated with maintaining physical office spaces.

In contrast, while biotechnology, engineering, and print and electronic media are significant fields in their own rights, they do not specifically contribute to the infrastructure that allows virtual companies to thrive. For example, biotechnology focuses on the use of living systems and organisms to develop products, while engineering encompasses a variety of physical and structural projects. Print and electronic media deal primarily with the dissemination of information rather than the operational framework that supports virtual interactions and businesses.