This study investigated and analyzed awareness of the virtual organization and the extent of its use by professionals and management personnel. It tried to find out the specific purposes for which the virtual organization is used and to determine the perception of a sector of professionals about its effect on their professions and personal development. The study also tried to identify the perception of the users as to whether dealing with this type of organization would conflict with any moral and ethical values. The study found a positive trend toward the use of the virtual organization among professionals and management personnel. Most of the respondents indicated that they are aware of the existence of the virtual organization and value it as important and advantageous to their professional careers. The majority of the respondents expressed concern about security in online transactions, but few expressed concerns about the moral and ethical aspects of virtual communication. The results shows more than 73% of the respondents regarded that using the virtual organization would not conflict with any moral and ethical values.