Avation Opperations
When and who Invented/Patented the jet engine?
Frank Whittle, 1930
How flexible the market tends to be.
Elasticity
Procrastination is what?
A Time management issue.
First step in the information system.
Records
What is a Manager?
Getting things done through others.
What are the Three main regulatory agencies in aviation?
FAA, NTSB, TSA
What are some other national trends/market changes that affect GA (Different from the ones in CH 1).
Tort Reform (GARA 1994), New pilots, and Sport Pilots.
What are the three leadership styles.
Authoritarian, Delegative , and Participative.
High Risk: ________
Low Risk: ________
High Reward/Profitability
Low Reward/Profitability
When you entrust a task to someone normally less superior than oneself. Not giving up power. Keeping things going when the boss is not there.
Delegation
In which year was the Airline Deregulation Act made?
1978
What are the four P's of marketing?
Product, Price, Place, and Promotion.
What are the four main functions of a manager.
Planning, Organizing, Directing/coordinating, and Controlling.
Net Profit/Cost of Investment x 100
Return on Investment
Process of Planning, organizing, coordinating how much time to spend on a specific activity.
Time Management
What are 3 market changes in aviation.
The Internet, Globalization, Airport closures, Advancements in technology, Fractional Ownership, Security and Terrorism
Helps the business owner understand the trends and the factors causing them.
Market Research
Failure to focus on profit is what.
One of the twelve common managerial errors.
Four types of money?
Short term cash, Long term cash, Equity, Employee Ownership.
When, How and Who should you hand a task down as a manager.
Hand down the task to someone who willing and ready to do them. 80/20 rule. 80 precent ready 20 open to learn.
What were the first aviation operations.
Postal Services, Military, Passenger, Cargo, and Surveying
What is Total Product?
More than just the product the customer is looking for the experience with it and the assurance of its functionality and aesthetic.
Style of leadership best applied with lots of available time and in groups.
Participative leaders (Democratic leaders)
Social Responsibility is a concept that.....
Concept that business have a duty to support the needs the community.
What are the four forms of Profit?
Reward for Effort, Reward for Risk, Return on Investment, and Profit to sales Ratio.