Agencies
The primary regulatory and safety agency for the aviation industry in the United States.
Federal Aviation Administration (FAA)
Who was the first successful flight
The Wright Brothers
four basic management functions
Planning
Organizing
Directing and Coordinating
Controlling
Need for Marketing
wider adducent and market potential
What is profit
Reward for Effort
Reward for Risk
Return on Investment
Profit to Sales Ratio
Independent government agency that reports directly to Congress on safety and
accidents
National Transportation Safety Board (NTSB)
First jet engine patent
Frank Whittle an inventor from Great Britain
The worst type of manager
micro managers
Who uses these Fractional companies or ownerships?
Smaller Corporations closing their individual flight departments, Business people who are now realizing the benefits of private GA transportation
Risk vs reward
Low risk - low yield
Highly risky - highly profitable
Reward for the risk of entrepreneurship
Established in late 2001 as of result of concerns raised by the 9/11 terrorist attacks
Transportation Security Administration
advantages of the jet aircraft over props
Range of flight without refueling
Managerial errors
failure to anticipate industry trends
Marketing Defined
Product, Price, Place, and Promotion
First step in information system
Records
Europe FAA
European Union Aviation Safety Agency (EASA)
what major event changed aviation forever in the modern era
2001 9/11
What does a good manager look like?
Problem-solvers
Visionary leader
Leads followers
Caretaker
Who is the lowest earner in aviation
General aviation has the lowest market share.
Place interest charges on accounts more than 30-days past due
Improving Position of Cash
Intergovernmental specialized agency associated with the United Nations
International Civil Aviation Organization
Year of first flight
1903
3 leadership styles
Authoritarian Leader
Participative Leader
Delegative Leader
Tort Reform
without tort reform GA may longer exist as smaller aircraft aren't as profitable
Watching to determine matching of another's new service, reduced prices, or to take initiative and try something new
Competition