Management Functions
Getting things done through others
What is Management
Work expands so as to fill the time available for
its completion
what is time management
Aviation and Aerospace marketing is the use of strategic communications to promote a
company with decision-makers
what is marketing
how flexibly the market tends to be
what is elasticity
a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
what is a profit
Planning, Organizing, Controlling, Directing
what are the four functions of management
Procrastination
what causes time management issues
Terrorism and Its Aftermath, Fractional Aircraft Ownership, Encouraging New Pilots Sport Pilot Certification Airport Closures Technology Tort Reform
what are National Trends That May
Affect General Aviation?
Sold to local customers/transients in
a captive market vs. Based upon the total market in the area
what is competition vs. market niche
the net cash and cash equivalents transferred in and out of a company
what is cash flow
"Failure to focus on..."
what is Profit
Delegation
Time Management Best Strategy
owning a "time share" of an aircraft
what is fractional ownership?
cost based, demand based, price based
what are the three basic methods for pricing
quick money in the stock market
what is high risk high reward
Authoritarian Leader
Participative Leader
Delegative Leader
what are types of Leadership Styles
Plan your work and work your plan, Organize papers relating to future dates and projects, Sort tasks into priorities (urgent, important, or not)
what are time management strategies
generating various levels of success by encouraging individuals to pursue aviation as a hobby or even a business/career
what are Multiple introductory flight programs?
Ensures that good product is being
distributed
what is quality control
Profits measured in this way are examined
as a percentage earned on the equity the
owner holds in the business
What is ROI?
Typically provide clear expectations on the nature of the work required
What is Authoritarian Leader
pride, ownership, rewarding, inspiring
what does delegation boosts
General Aviation (GA) business is in the position of having a captive audience; for instance, if the services are any of the following, the pilot will go somewhere else
what is the need for marketing in aviation
Ability to examine what contribution each sale makes
towards the profit or overhead
what is contribution analysis
Calculated by dividing the net profits of the business by its total sales
what is profit to sales ratio?