management functions
what are the four traditional management functions?
Planning
Organizing
Directing
Controlling
what is time management
work expands so as to fill the time available for completion
market research
helps the business owner understand and define their target market and trends
what does competition do
keeps the market rolling
qualities of a leader
confident, kowledgable, independent, accountable, honest
three leadership styles
authoritarian
delegative
participative
good time management strategy
delegation!!!!
what are some national trends that may affect general aviation
terrorism, fractional ownership, sport pilots, airport closures
what is market niche
the business determining their place in the local market
what can too much delegation do
lack of cohesiveness, lack of quality work, lack of a good manager
purpose of delegation
direct tasks to others, 80/20 rule, efficient completion of work, etc.
three time management strategies
plan
avoid distractions
let others do a task you can do if they want to do it
fractional aircraft ownership
multiple people "own" shares of an aircraft and take it out for a set number of hours each year, they "own" the hours
three basic methods for pricing
cost-based
demand-based
price-based
qualities of a good manager
knows when and how to delegate, firm, efficient
main purpose of managers
maintain an efficient and controlled workplace
what does procrastination look like
lack of work, constant distractions, doing things other than the task at hand
how can airport closures affect GA
can cause FBOs to close even if the airport is to open again
what is elasticity
the basis of how a market changes
three FBOs in bozeman
millionair
jet avition
summit aviation
Four common managerial errors
lack of time management
lack of priorities
poor communication
lack of accountability and ethics
what does delegation do for time management
allows you to focus on more important tasks that those being delegated may not be able to complete
what is aviation marketing
highlight of accomplishments, things that stand out, a stand out to the community, proves to others why they are better than the competition
7 pricing policies
fixed vs. flexible
market level
product life cycle
product line
promotional pricing
channel pricing
what does the FAA stand for
federal aviation administration