Aviation Facts
This year marked the first manned untethered flight, traveling 5.5 miles over Paris.
What is 1783?
Management is defined as “getting things done through” this group.
Who are others
Four Ps of marketing
Product, Price, Place, Promotion
Profit as a percentage of the owner’s equity refers to
What is Return on Investment (ROI)?
Fuel readings not recorded, sales slips not filed, and outdated balance sheets are all symptoms of weaknesses in this business function
What is recordkeeping within an information system?
These two brothers achieved the first sustained powered flight in 1903.
Who are the Wright Brothers?
These are the four traditional functions of management.
What are planning, organizing, directing/coordinating, and controlling?
Companies like NetJets and FlexJet represent this type of ownership model.
What is fractional aircraft ownership?
This ratio is calculated by dividing net profits by total sales.
What is the Profit‑to‑Sales Ratio?
This marketing mindset places priority on giving people what they want — even above the product itself.
What is marketing oreintation
This category of aircraft includes hot‑air balloons, airships, and dirigibles.
What is lighter‑than‑air aircraft?
This leadership personality is described as a visionary, caretaker, and problem‑solver.
What is a manager?
This certificate allows pilots to train at lower cost and with fewer requirements.
What is the Sport Pilot Certificate?
This non‑financial objective emphasizes fun or passion over high revenue.
What is non‑monetary profit (or hobby business)?
Short‑term cash, long‑term cash, equity, and employee ownership make up these four categories.
What are the four types of money?
This major advantage of helicopters lets them reach areas without roads.
What is vertical takeoff/landing & hover capability?
This managerial failure happens when staff don't know how “high the bar is set.”
What is failure to establish and adhere to standards?
Noise complaints and urban encroachment are major contributors to this threat for aviation.
What is airport closure?
Reducing unit costs through recycling, thrifty work practices, and comparison shopping are examples of this
What is cost control?
A healthy profit margin provides this important buffer against unexpected expenses.
What is a finanacial cushion?
This inventor received the first jet engine patent in 1930.
Who is Frank Whittle?
How does the delegation rule go?
You should delegate tasks to people who are 80% ready.
Most profitable business in KBZN Airport
Rental cars
This includes forecasting business, preparing for income and expenses, and assembling statements.
What is budgeting?
Rising international business flights, overseas FBO expansion, and increased global movement of culture, goods, and workers are all examples of this phenomenon.
What is globalization?