modern aviation industry
What are three categories that the aviation industry can be broken up into?
Pilots, The airport system, general aviation, ect
when was the first ever fixed wing flight?
1903
define management?
the act of getting things done through others.
The entire business strategy must hinge upon anticipated sales in order to...
Gain money to run the business
Make improvements
To expand
what is the definition of profit?
there is not one...
These forms of profit are as follows:
Reward for Effort
Reward for Risk
Return on Investment
Profit to Sales Ratio
what does the NTSB stand for?
national transportation security board
when was the jet engine created?
world war II
4 functions of manegment:
planning, organizing, directing/ cordinating, and controlling.
what is marketing in aviation?
Aviation and Aerospace marketing is the use of strategic communications to promote a
company with decision-makers.
how do you find net profit
Net Profit ($5) and Equity ($100) the
ROI would be 5% (5/100 = 5%)
What does TSA do?
result of 9/11, taken over the responsibility of aviation security.
what are the benefits of helicopter development?
range, speed, load capacity noise mitigation, ect.
what are some manegereal errors?
1. Failure to Anticipate Industry Trends
2. Lack of Priorities
3. Indecisiveness and Lack of Systems
4. Poor Time Management
what are the 4 P's
Product, Price, Place, and Promotion
what is satisfactory profit?
More for the sake of More
Mangers who seek leisure over
stress
charter operations, fueling service, rental/sightseeing, ect
what are some market changes and their inpact on aviation?
-New wealth / Fractional ownership
-Security and Terrorism
-The internet
-Globalization
how often does the average maneger get inturruped?
every 8 minutes.
what is market reaserch?
helps the business owner understand the trends including the underlying factors causing them.
what is const control?
-Major portion is cost commitment
orientation
-Difference between profit and loss in
a given time period may not be more
volume of sales/different services
What two things do FBO'S focus on to maintain a business?
- scale and prospects of the industry
- airport manegment
how does the internet advancement provide information for aviation?
airline tickets, learning about flight school, times and general informations, FBOs, ect.
training is crutual...
in conjunction with development
Fractional ownership companies and individuals account for more than...
40% of all new corporate jet orders from the manufacturers
what are managereal decisions?
Excess allocation of overhead leads to
the potential of unprofitability
Receiving labor/supplies at cost is
receiving a cash benefit
Supplying something at cost is losing
money that could be made on the public
marke