History and Service centers
What year was the first manned untethered flight took to the air
1783
What are the four traditional functions of a manager?
Planning, organizing, directing, and controlling
What are some national trends to affect aviation?
Terrorism and Its Aftermath
Fractional Aircraft Ownership
Encouraging New Pilots
Sport Pilot Certification
Airport Closures
Technology
Tort Reform
what are the four types of profit
Reward for Effort
Reward for Risk
Return on Investment
Profit to Sales Ratio
Planning and coordinating your time and tasks to be efficient and productive.
Time management
What does an FBO stand for
Fixed based operations
What are 3 common manger errors?
Failure to Anticipate Industry Trends
Lack of Priorities
Indecisiveness and Lack of Systems
Poor Time Management
Poor Communication Skills
Lack of Personal Accountability and
Ethics
Failure to Develop, Train, Acknowledge People
Failure to Support Company Policy in Public
Failure to Acknowledge and Accommodate People’s Workstyles
Failure to Focus on Profit
Failure to Recognize the Need People Fulfill by Working
Failure to Establish and Adhere to Standards
Where can you find forecasts in aviation to determine workloads and facility needs for the airspace system as a whole
NPIAS, Terminal aera forecast, and national aerospace forecasts.
What type of business is it where the owners main concern is not profit?
Hobby business.
The offload of tasks or assignments to others while still holding some accountability.
Delegation
What are three reasons an airport may close?
Weather, construction, accidents, lack of funds, or failed inspections
What are the four leadership styles?
Authoritarian Leader
Participative LeaderParticipative Leader
Delegative LeaderDelegative Leader
What type of ownership is when you buy a share of an aircraft in return you get a set number of hours you have access of that plane during the contract.
Fractional ownership
What are the four types of money in financing?
Short-term cash
Long-term cash
Equity
Employee ownership
The process of organizing, planning, leading, and controlling others to reach a goal.
management
What are some things a traditional FBO offers?
FBOS offer stuff like fueling, aircraft parking, Private rooms, showers, catering, rental cars, sleeping arrangements and much more.
This leader provides clear deadlines and how work is supposed to be done but doesn't take much of the groups input into the decisions.
Authoritarian leader
Why have more companies looked into getting into fractional, full ownership, air taxi and charter flights.
Terrorism and its aftermath
What is equity?
The portion of what you own after subtracting any debts.
The idea of selling, promoting, and disturbing a service or a product to customers.
Marketing
When was the wright brothers flight?
December 17th, 1903
This leader does not give much guidance as well as leaving decisions up to group members.
delegative leader
What research helps the business owner understand the trends including the underlying factors causing them
Market research
What is ROI and how is it calculated?
ROI is return on investment and it is calculated by taking the net profit and dividing it by the cost of the investment or equity.
The money that a business keeps after paying off debts, taxes, costs.
Net profit.