Chapter 1
When did the first hot air balloon take flight?
1783
What is the definition of management?
Getting things done through others
What was the most crucial day in aviation that changed everything?
9/11
What airline absolutely sucked last year?
Southwest
What was the type of Boeing aircraft that has been found to have missing/loose bolts in the emergency exit door?
737
When was the Airline Deregulation Act Made?
1978
How many leadership styles are there and what are they?
3: Authoritarian, participative, and Delegative
What are the 4 P's?
Product, price, place, and promotion
What are the 4 main forms of profit?
Reward for Effort
Reward for Risk
Return on Investment
Profit to Sales Ratio
What aircraft went missing over South Carolina during September?
F-35
What are the 3 aviation regulatory agencies?
The: FAA, NTSB, and the TSA
What are the 4 traditional functions of management?
Planning, organizing, Directing/coordinating, Controlling
The U.S. aviation customer base is generally divided into how many tiers?
4 tiers
What is the most precise definition of profit?
Reward for Risk
What is the most environmentally friendly military aircraft ever built?
B-52
Why might airports be closed?
Weather, Construction, Incidents, Lack of funds, Failed inspections
Every 8 minutes
What percentage is the top tier of aviations most wealthy consumers?
2%
What are the 4 parts of Setting Your Cash
Flow and Profit Goals?
Part 1 - Planning for Positive Cash
Flow
Part 2 – Planning for Profits
Part 3 – Budgeting
Part 4 – Other Considerations
What type of aircraft shot down the Chinese "weather" balloon?
F-22 raptor
How many types of "heavier than air" aircraft are there?
6
What is the best time management strategy?
Delegation of tasks
What are the 3 trends of prosperity seen in aviation market research in the past 20 years?
Geographic areas, Socio-economic groups, and Limited time periods of nearly excessive growth
What are the 4 types of money?
Short-term cash, Long-term cash, Equity, and Employee ownership
What airplane at Summit do you have to make sure you don't push in the flight control lock or else it will get stuck and make the aircraft non-airworthy?
N323HB