~ Aviation Management ~

Aviation Operations - Management Functions & Marketing

The Four Functions of Management; about problem solving and delegation 

- Planning

- Organizing

- Directing and Controlling (now Leading)

- Controlling

Fayolism; (six primary factors of management)

- Forecasting

- Planning

- Organizing

- Commanding 

- Coordinating

- Controlling

Planning;

basic function of management

laying out a course to achieve goals

deciding in advance

systematic thinking

intellectual activity

deciding what needs to happen (today / future)

Steps;

1- establish objectives

2- establish planning premises

3- course of action, alternate course of action

4- formulate derivative plans

5- secure co-operation

6- follow, appraise, evaluate 

Organizing;

- follows planning in the functions of management

- synchronization of resources (human, physical, or financial)

Common Managerial 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 and acknowledge people

- failure to support company policy

- failure to acknowledge and accommodate peoples work-style

- failure to focus on profit

- failure to recognize the needs people fulfill by working

- failure to establish and adhere to standards

Business Plan;

- Mission statement

- Values

- Niche (how you will differentiate yourself)

Leadership Styles;

- Authoritarian (is never wrong and typically doesn't solicit other inputs)

- Participative

- Delegative (doesn't want to make any decisions)

Marketing - the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

The 4 P's: 

Product - know your product, goods, and services, know competitors product, know the difference

Price - margins and sales price, fixed and variable costs, total, averages, demand-based, price-based, pricing policies

Place - where, how, when, distribution channels

Promotion Plan - where, how, and when

~ Sources for Financing;

Venture Capitalist - 

Grants

Personal Investment

Social Responsibility with marketing - what is in the best interest of society in the resent and long term

Venture Capitalist - investor looking to invest in large potential sales with high growth, high, return, and also wants a percentage of ownership in the business.