The original BMW logo was designed when Biblical Ministries Worldwide was first created back in 1988. The logo you see on the right was created in 2007 and is being gradually phased in.
The blue circle represents the world into which believers were commanded by Jesus Christ to take the gospel (Matthew 28:19-20). The arrow represents our desire to advance forward with the biblical message and methods to reach the world.
The four wheat sheaves represent the souls of people whom God has been drawing to salvation (John 4:35-36). Missionaries are colaborers with God in bringing in the harvest.