Principles of Management and Leadership
the four traditional functions of management
What is Planning, Organizing, Directing/Coordinating, Controlling?
Prioritization improvements in time management.
What is Sorting tasks into categories such as urgent, important, or low priority helps ensure that critical responsibilities are handled first and prevents time from being wasted on less meaningful work?
The Four P's
What is Product, Price, Place, and Promotion?
The 4 main forms of profit
What is reward for Effort, reward for risk, return on investment ,profit to sales ratio?
Airline Deregulation Act was established in.
What is 1978?
the three primary leadership styles.
What is Authoritarian , Participative,Delegative?
Common time management Problems
What is Procrastination is a major cause. Delaying tasks leads to last-minute pressure, reduced productivity, and increased stress?
fractional aircraft ownership, and its popularity
What is Fractional ownership is similar to a timeshare. consist of lower costs than operating a corporate flight department, no maintenance responsibilities, reduced travel time compared to airline, flexibility in aircraft selection?
a typical companies major asset.
What is Inventory?
A full service FBO
what is Charter operations, Pilot training, Aircraft rental/sightseeing, Aerial photography, Crop dusting/application, Aerial advertising/surveying, Passenger transportation, Aircraft sales/service, Sale of aviation petroleum products, Repair/Maintenance of aircraft, Sale of aircraft parts?
the ultimate purpose of business management
What is to get and keep customers profitably?
Management Strategies
What is plan your work and work your plan, Organize papers relating to future dates and projects, Sort tasks into priorities (urgent, important, or not), Work out 6– 7 goals with your manager, List goal-related tasks with Start and Finish dates, Use an electronic task organizer, Use a notebook or electronic note keeper, Eliminate avoidable distractions, Identify Energy Vampires within your work group?
7 National trends effecting General Aviation
What is Terrorism and Its Aftermath,Fractional Aircraft Ownership, Encouraging New Pilots, Sport Pilot Certification,Airport Closures, Technology,Tort reform?
The types of money
WhT isnShort-term cash, Long-term cash, Equity, Employee ownership?
Independent government agency that reports directly to Congress on safety and accidents, and provides interpretations of “probable cause” for serious or fatal accidents and incidents.
What is The National Transportation Safety Board (NTSB)?
the definition of management
What is Management is defined as getting things done through others?
Deadlines improving productivity
What is create positive pressure that increases focus and encourages task completion. Breaking large projects into smaller milestones also improves motivation?
The difference between marketing and market research.
What is Marketing involves promoting and selling products and services, while market research helps business owners understand trends and the factors behind them?
Critical sections for a successful planning. process.
What is Profit Objectives, Break-Even Analysis, Profitability Variations, Profit Centers, Profit/Loss Statement, Balance Sheet?
Components of modern aviation industry
What is Pilots – at all levels and ratings, Other Aviation Support Personnel, The Airport System, The Air Navigation System, Aviation/Aircraft Manufacturers, Scheduled Air Carriers, General Aviation, Aviation Interest Groups, the Governmental Regulatory System
the 80:20 Rule in delegation
what is The 80:20 Rule suggests delegating tasks to employees who are about 80% ready to handle them. Managers must provide clear instructions, set progress checks, and avoid overloading employees who are not yet fully prepared?
Parkinson's First Law
What is ”Granted that work (and especially paperwork) is thus elastic in its demands on time, it is manifest that there need be little or NO relationship between the work to be done and the size of the staff to which it may be assigned”?
Maintaining a positive public image for GA business
What is hosting open houses, offering tours, responding to noise complaints, engaging local officials, and organizing aviation events?
The difference between fixed and variable expenses.
What is Fixed expenses remain relatively constant (rent, insurance, salaries), while variable expenses increase as sales volume rises (fuel, oil, maintenance, crew costs)?
Aviation Regulatory Agencies.
What is Transportation Security Administration (TSA), National Transportation Safety Board (NTSB), Federal Aviation Administration (FAA)?