Role of General Aviation Service Centers
What year was the Airline Deregulation Act? (ADA)
1978
Define a Manager.
Someone who gets things done through others.
Are marketing and market research the same thing?
NO.
What is a Hobby Business?
A business where the love of one's occupation makes profit not a concern.
Who was the predecessor of the FAA?
The Civil Aeronautics Authority (CAA)
What year was the General Aviation Revitalization Act? (GARA)
1994
How many Common Managerial Errors are there?
12
What are the four P's of marketing?
Product, Price, Place, Promotion
What is a Profit and Loss Statement (Income Statement)
A statement showing sales minus cost of goods before and after subtracting overhead costs (designed to show overall profit or loss)
What rule governs how to delegate tasks?
The 80:20 rule.
The ability to own and use a fraction of a business aircraft.
Fractional aircraft ownership.
What are the three Management Styles?
Authoritarian (autocratic)
Participative (democratic)
Delegative (laissez-faire)
What are some promotion strategies?
Advertising, Direct Mail, Referrals, Institutional Promotion, Consulting
What are the four types of money for running a business?
Short term cash
Long term cash
Equity
Employee ownership
In anything but a one-person business, what is the best means of gaining time?
Delegation
What are the three government regulatory bodies in aviation?
FAA, NTSB, TSA
What are the four main functions of a manager?
Planning
Organizing
Coordinating/Directing
Controlling
What are the four steps of sales?
Needs Assessment, Alternatives, Closing, Collecting
What are the four definitions of Profit?
Reward for Effort
Reward for Risk
Return on Investment
Profit to Sales Ratio
Name four aviation industry groups.
Experimental Aircraft Association
Aircraft Owners and Pilots Association
General Aviation Manufacturers Association
National Agricultural Aviation Association
What are the components of the modern aviation industry?
Pilots, Aviation Support Personnel, Airport Systems, Air Navigation Systems, Aviation Manufacturers, Scheduled Air Carriers, General Aviation and Service Centers, Government Regulatory Authorities
What are some Do's and Don'ts of Delegation?
Right person for the job, Climate for comfortable briefing, Encouraging free flow of info, Focus on results, Delegate through dialogue, Firm deadlines, Give all necessary resources, Give the entire job, Give the entire authority, Offer guidance not interference, Establish control system beforehand, Support your people, Follow up, Give proper credit
Define marketing.
Identifying customer needs, purchasing or producing goods, setting price and place to dispense the goods, prospecting and promoting and selling the goods.
What are the five elements of the credit process?
Determining acceptable credit risk
Setting credit limits
Handling credit transactions
Maintaining controls and efficiency
Collections
What is the "Revenue Diversion" issue?
The diversion of airport revenue for non-aviation needs. Such as police, fire or education.