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May 12, 2011
ZICKLIN LEADERSHIP SERIES — BRUCE RATNER
The Graduate Baruchian
by Lemuel Morrison & Tex Morgan
MBA students at Baruch College have been graced by the wisdom of Bruce Ratner.
On May 4th the speaker series started with an introduction by Frank Fletcher for Mr. Ratner. He is the CEO and Chairman of Forest City Ratner Companies (FCRC) and has led the firm as a prominent developer of urban real estate. He is recognized beyond his firm with a long career in the public and private sectors.
Professor Donald Vredenburgh joined Mr. Ratner on the dais. The format was a question and answer session.
...What is it like to be a leader in real-estate development in New York City?
BR – You must be comfortable with chaos — not necessarily in the strict sense. The world is always changing and something always happens. I found that being flexible is really important in a leader. Can you move quickly and change with the circumstances? Avoid the bureaucracy that stops your progress.
A couple good ways to "avoid bureaucracy" are to have the state override local zoning laws, and use its power of eminent domain to seize property for you.
What can an organization do to encourage good business ethics?
BR — [Silence]
Just kidding — real answer below:
BR — It starts from the top. Ethics is an issue of culture. That comes directly from the executives and people who run the company. Lectures turn people off. Leading by action sets the tone. At FCRC a balance between life and work is strongly encouraged. The job is important, but friends and family come first. When people recognize that work is not everything, they become less susceptible to temptation and making poor decisions. Moreover, a culture of fairness further creates an environment where people can make good decisions.
Silence would have been a truer answer.
Do you have suggestion for business school that have a real-estate program?
BR — Aside from all the usual material, dealing with the media is an important topic — especially in today’s world. Knowing how to work with blogs and social media is becoming very important.
Indeed it is.
Posted by eric at May 12, 2011 12:12 PM