Bonus
When was the first sustained fixed-wing flight ?
1903
What is Fractional Ownership of a aircraft?
You pay for time that you can use the aircraft.
What is the 80:20 rule?
delegating tasks to people who are 80% ready to handle
them and 20% not.
What is Aviation and Aerospace Marketing?
-The use of strategic communications to promote a company with decision-makers
What are the 4 forms of profit?
-Reward for Effort, Reward for Risk, Return on Investment, and Profit to Sales Ratio
Define Management
Management is defined as getting things done through
others
The first Jet Engine was designed Before or after WWII?
Before, It was designed in 1930 and WWII was 1944
What are some common Managerial errors?
-Failure to Anticipate Industry Trends
-Lack of Priorities
-Indecisiveness and Lack of Systems
-Poor Time Management
What are the Four P's of marketing?
-Product, Price, Place, and Promotion
What are the 4 steps in setting your cash
flow and profit goals?
-Planning for Positive Cash Flow, Planning for Profits, Budgeting, and Other Considerations like paying taxes and competitors
What Government agency was formed After 9/11/01?
The Transportation Security Administration (TSA)
What are the Aviation's regulatory agencies?
-Federal Aviation Administration (FAA)
-National Transportation Safety Board (NTSB)
-Transportation Security Administration (TSA)
What are the traditional functions of a Manager?
-Planing, Directing, organizing, and Controlling
What are some things that affect general aviation?
Terrorism and Its Aftermath, Fractional Aircraft Ownership, Encouraging New Pilots, and Tort Reform
What are the steps in Budget Development?
-Preparing for the budget, Forecasting business, Budget preparation, Timetable
What are the 4 types of Money?
-Short-term cash, Long-term cash, Equity, and Employee ownership
How does Aviation relate to globalization?
Planes and other aircraft have expanded Man-kinds reach all across the globe.
What can cause time management issues?
-Procrastination, calls, meetings, and interruptions causing you to get off track
What is a Market Niche?
a focused segment within a larger market where a particular product or service caters to a unique set of customer needs
What are some ways to source money?
-Leasing, Banks, Small Business Investment Companies (SBIC), Friends/family, and the Small Business Administration (SBA)
What are the names of Mr.Schneider's horses?
Wendigo And Nessie
What is an FBO? and what can you expect from the FBO's at KBZN?
-FBO stands for Fixed Base Operations
- fueling, lavatory servicing, towing, marshaling, concierge services, billing, vehicle movement, and general assisting of passengers, customers, and crews
What are some time management strategies?
-Delegation, stick with one task until its completed, sort tasks into priority levels, and divide larger projects into smaller sections
What are the 7 Areas established
as Pricing Policies?
-Fixed vs. Flexible Pricing, Pricing in Relation to Market Level, Pricing in Relation to Product Life Cycle ,Pricing in Relation to Product Line, Promotional Pricing Policies, Geographic Pricing Policies, and Channel Pricing
What is Return on Investment?
Profits measured in this way are examined
as a percentage earned on the equity the
owner holds in the business