FBO's/Regulatory Agencies
The primary regulatory and safety agency for the aviation industry in the United States.
What is the FAA
Planning, organizing, controlling, and directing
What are the 4 functions of management?
A plan of strategic communications that reach prospective customers with the intent of turning them into current customers.
What is marketing?
Items that can be purchased easily and with little effort.
What are convenience goods?
Reward for effort, reward for risk, return on investment, profit to sales ratio
What are 4 forms of profit?
What is the TSA?
Which of these is not a common managerial error?
a. Lack of communication
b. Lack of emotional intelligence
c. Indecisiveness and lack of systems
What is B?
Price, Place, Product, Promotion
What are the 4 P's of marketing?
A segment within a larger market that offers a particular product or service to a unique set of customers.
What is a market niche?
The perception that businesses should act in ways that benefit society as a whole.
What is Social Responsibilty?
Services provided include fueling, towing, marshalling, vehicle movement, and general assistance of passengers, customers and crews
What is an FBO?
Authoritarian, Participative, and Delegative
What are leadership styles?
Helps business owners understand industry trends and what products/services to should be offered.
What is market research?
Cost based, demand based, price based.
What are pricing methods?
Recycling, comparison shopping, thrifty work, and minimizing overhead
What is ways of cost control?
Reports directly to congress on safety and accidents. May also investigate domestic aircraft accidents
What is the NTSB?
The process of planning and organizing how you spend your time on specific activities which helps to increase productivity and effectiveness
What is time management?
The timeshare of aircraft
What is fractional ownership of an aircraft?
Ensuring the product is of good, consistent quality and is being distributed correctly with the same level of customer service.
What is Quality Control?
The financial calculation that determines the point at which a businesses revenue matches its costs, meaning there is neither a profit or loss.
What is a breakeven analysis?
Provides aircraft sales, charter operations, pilot training, repair/maintenance of aircraft, etc
What is a "full service FBO"?
To entrust a task or responsibility to another person. Can boost pride, ownership, be rewarding and inspiring
What is delegation?
Examines projected activity at towered airports, airport needs and improvement plans.
What is an aviation forecast and market projection?
Sales volume, area coverage, new clients, product establishment
What are measures of marketing effectiveness?
Short term cash, long term cash, equity, and employee ownership
What are the 4 types of money for financing?