Service Centers and FBOs
What does FBO stand for?
Fixed Base Operator
What are the 4 functions of management?
Planning, organizing, directing/coordinating, controlling
What are the 4 P's?
Product, price, place, promotion
Reward for effort, Reward for risk, ROI, Profit to sales ratio
This act of 1978
The Airline Deregulation Act
What are the Aviation Regulatory Agencies?
FAA, NTSB, TSA
Name 3 common managerial errors
Poor time management, poor communication skills, lack of priorities
No aircraft maintenance responsibility
4 steps for cash flow goals
Planning for positive cash flow, planning for profits, budgeting, other considerations
Which pair had the first powered flight in 1903?
Wright Brothers
Name 3 heavier-than-air aircraft
fixed-wing, rotor-wing, gliders
Authoritative, Participative, Delegative
What are the 3 basic methods for pricing?
cost-based, demand-based, price-based
What are the 4 types of money?
Short term cash, long term cash, equity, employee ownership
Who and in what year was the jet engine patented?
Frank Whittle, 1930
What might effect and FBO?
Airport closure due to construction, weather, lack of funds, etc
Make sure to use this rule for delegating work
80:20 rule
What is Market Niche?
You sell/specialize in one thing
What are 3 sources of money?
Family/friends, banks, customers
What is GARA?
General Aviation Revitalization Act of 1994
Name 3 early adapters of aircraft
Military, postal service, cargo
Name 3 good manager traits
Problem solvers, visionary leader, patient
What is the main way for marketing now?
The internet
Fixed v variable expensives
Variable: fuel, oil, crew
When was the TSA established and why?
late 2001 because of 9/11