Mike Baur is a successful business visionary who has vast knowledge in the world of banking. Due to various young entrepreneurs, he handled while in the banking sector, he understands the challenges that may hinder businesses from thriving. In an aim to assist the new business visionaries in the market he started a business incubator that would provide an environment for new businesses to thrive in the market. In the incubator, he understands the needs of the business and thus he is able to assist the businesses to acquire resources necessary for growth in the global market. He also offers expert assistance in the line of marketing, finance allocation and accumulation, the organizational structure of the business, Executive business management and policy formulation for the businesses.
Mike Baur notes that one of the critical elements in business is communication. In this point, he acknowledges that communication enables the business to run efficiently and grow faster. He notes various types of communication as the vertical communication and the horizontal communication. Mike Baur emphasizes that for an entrepreneur to understand the two modes of communications one should be conversant with the organizational structure of the business.
Mike Baur notes that the organizational structure should be a clear one that can easily be outlined on a chart. All departments should be headed by one central executive. He notes that each department similarly should have a person heading it. He outlines some of the departments as follows; the procurement department that deals with the purchasing of the materials required in the business, the production department that will be responsible for processing or producing the final products for clients and the marketing department that will seek for potential clients who will buy the products of the business.
According to Mike Baur, there should be a clear central objective that all the department should adhere to while conducting the operations. The common objective should be formulated by the central executive management that should be well communicated vertically to the heads of the various departments. On this note, the heads of departments are required to communicate the same to the junior employees of the firm in their departments. Another mode of communication that Mike Baur outlines as vital is the use of horizontal communication. This ensures that there is communication amongst the departments of the business. Since all heads of departments have the same rank, then their communication is known as horizontal communication.