Section 1
TSA was established when and why?
Transportation security administration Established in late 2001 as of result of concerns raised by the 9/11 terrorist attacks and
has taken over the responsibility of aviation security from the FAA (Carney, 2015).
Planning
Organizing
Directing / Coordinating
Controlling
Forecasting expenses / types of expenses
Fixed- things recurring like rent, work on the plane etc
Variable- goes up if use/consumption goes up. Fuel oil crew costs etc
Profits are…
KEY TO BUSINESS
Delegation leads to
Developing teamwork and morale
Who Is the NTSB
National transportation safety board.
Independent government agency that reports directly to Congress on safety and
accidents, and provides interpretations of “probable cause” for serious or fatal accidents
and incidents
12
Lack of priorities lack of communication poor time management etc
Profit is a reward for 2 things
Profit and Risk
4 forms of profit
Reward for Effort
Reward for Risk
Return on Investment
Profit to Sales Ratio
something that happens in GA that causes loss to an FBO
What does an FBO do?
Fixed based operators
Are a commercial business that provides services to private aircraft at an airport. FBOs offer services like fueling, parking, and aircraft maintenance.
The FBOs at the Bozeman Airport, typically conduct; fueling, lavatory
servicing, towing, marshalling, concierge services, billing, vehicle
movement, and general assisting of passengers, customers, and crew.
3 types of leaders
authoritarian
Participative (democratic)
Delegative
Market research
helps the business owner understand the trends
What do managers need to watch in order to be successful
competition
Best way managers can relieve workload
delegation
First AV operations to adopt aviation
Military passenger postal +
Good manager will
Plan, Organize, Control, Direct/Coordinate
Terrorism
Fractional ownership
new pilots
tech
ROI
Return on investment
Ratio rule for delegation
80/20
Fractional ownership
NetJets, Vista Jet, Flex Jet. Buying the usage of time in an aircraft
What is management?
Defined as getting things done thru others
4 Ps of marketing
Product, Price, Place, and Promotion
Types of monaey
Short-term cash
Long-term cash
Equity
Employee ownership
First jet engine was patented what year
1930