SECT 1
What are the three Aviation Regulatory Agencies
What are the FAA, NTSB, TSA
What are the four functions of management
What is Planning, Organizing, Directing / Coordinating, Controlling
What event had the single most consequential impact on aviation
9/11
What is Globalization
What does TSA stand for
Transportation Safety Agency
When was the Jet engine made
What are the 12 managerial errors
1.Failure to Anticipate Industry Trends
2.Lack of Priorities
3.Indecisiveness and Lack of Systems
4.Poor Time Management
5.Poor Communication Skills
6.Lack of Personal Accountability and Ethics
7.Failure to Develop, Train, and Acknowledge People
8.Failure to Support Company Policy in Public
9.Failure to Acknowledge and Accommodate People’s Workstyles
10.Failure to Focus on Profit
11.Failure to Recognize the Need People Fulfill by Working
12.Failure to Establish and Adhere to Standards
What are the four product classifications
What are Convenience goods, Shopping goods, Specialty goods, Unsought goods
Frank Whittle created what and when
How did the Airline Deregulation Act of 1978 effect aviation
It tightened regulations, which resulted in bankruptcies, mergers, and a safer sky
What is "Fractional Ownership"
What is a time share
Authoritarian Leader, Participative Leader, Delegative Leader
What are the 7 main pricing polices
What are Fixed vs. Flexible, Relation to market level, Relation to product life cycle, Promotional policies, Geographic policies, Channel pricing
What is the 80/20 rule used for
75% of commercial flight travel revenue comes from these types of passengers
What is First Class & Business class
What event sparked the creation of the TSA
What is 911
What is the best time management strategy
What is DELEGATION!!!
What is essential
Payment is essential
What is a participative leader
What is a democratic leader: one who allows and builds off of input from others
What do happy customers do
What is spend money
What factors might influence airports to close
What is Weather, Construction, Accidents / Incidents, Lack of funds, Inability to keep serviceable movement areas / failed inspections
What is the deffiniton of management
What is getting things done through others
What are some ways to promote your FBO
What is Television ads, Social media ads, Radio, newspapers, Trade publications, Various websites
What is "Market Research"
What is the study of market trends
What are the four P's
What are Product, Price, Place, and Promotion