BMG Bank And The Culture Of Innovative Leadership

It is said that an institution is nothing without the people at its helm. It is by the strength of character and quality of these people that an institution, irrespective of whether it is public or private, finds success. BMB Bank has become a household name in Brazil and at the helm of this bank is Ricardo Guimarães, the CEO and President. Ricardo Guimarães has kickstarted the culture of innovative leadership with the BMG group.

So what are the key elements of the leadership of Ricardo Guimarães? Can young leaders learn anything from the innovative leadership style of Ricardo Guimarães? The following points will answer these questions –

Communication – Ricardo Guimarães has always ensured that with BMG, he has an open communication line with the employees. He does not put his employees into boxes and pigeon hole them because he understands that people respond to different management styles. Instead, he understands the story of each and every employee and treats them as individuals. With this unique approach, he not only has the trust of his employees but he also knows his people better than anyone else. This kind of understanding from the very beginning has paved the way for success in the future.

Flexibility – Ricardo Guimarães has stood by BMG’s principle of always being flexible. The current environment of banking and finance in Brazil is extremely capricious. In the best of circumstances, this industry is still a pretty dynamic one. As such, banks like BMG need to be ready for anything the industry and market can throw at them. They need to have a good risk profile that would prevent any catastrophe from occurring. When the times are good, leaders like Ricardo Guimarães help to ground the company while during bad times, these leaders know how to keep their employees motivated.

Planning and Organization – Of course, an organization as big and successful as BMG could not have succeeded if Ricardo Guimarães wasn’t as resourceful and organized as he is. Planning and organization are skills that need to be learned over the course of one’s professional career but Ricardo Guimarães was always quite good at it. He analyzes every situation and prepares for every controllable event. He also ensures that enough preparation is made (and resources kept aside for uncontrollable events).

It is because of these qualities and techniques that Ricardo Guimarães has been able to steer BMG towards success and efficiency.

Incorporate Olympic Valley Didn’t Do The Math…

Incorporate Olympic Valley has been in the news quite a bit lately, and this is due to the recent financial situations pending with the future of the area. There are many individuals who are very against incorporating Olympic Valley. Cityhood for this valley is something that may be a fiscal nightmare for the area. There are fewer than 1,000 residents that live in Olympic Valley and fiscal experts are saying that it would be nearly impossible for this are to support themselves as a city. Cityhood for this small area would be a recipe for disaster as incorporation would cause more problems than solutions.

The main source of revenue for the city would be a tax that is imposed upon hotel guests, and it is very unlikely that this tax would cover all the costs that it takes in order to run a city. There would be much more needed than taxes on hotel guests to make cityhood a viable option. If this area was to become a city, there is an estimated deficit that would be growing more and more by 2017. There were some residents that were pushing towards cityhood with the announcement of a new hotel and 300,000 square foot center for commercial development. Residents believed that cityhood would give them much more say on these types of developments, but they didn’t think of the fiscal implications of this incorporation.

Experts have said,“The independent study confirms the prevailing wisdom, that creating a town of 500 people, based on one revenue source and dependent on tourism and weather conditions, doesn’t make sense.” There is not a stable enough type of revenue for this area to be incorporated into a township. There are many more sources of revenue that need to go into a city on order for it to be incorporated.