Introductions
AS MANY COMPANIES ARE GIVE PERMISSION TO MAGE DIFFERENT DEPARTMENTS IN DIFFERENT COMPANIES, FBO (FIXED BASE Operator), a commercial enterprise is permitted to manage and control the airport. This business enterprise is granted permission by the same airport. It controls and provides aviation with the following services hangar space, parking, and fuel. The enterprise may be located in remote or in small communities. On the other hand, FAA (federal aviation administration) is an agency located in the United States responsible for the department of transportation for oversight and regulation of civil aviation in the United States, too; it controls the department of airspace system and operational development. In every aviation, some rules and regulations govern the operations. As everybody knows, in an airport is one of the secondary sources of revenue in many countries, not only in the United States but also in Africans. So airports are one of the transportation sectors that are guaranteed the highest security. It is also the source of income for most of the visitors from different continent uses flight.
Strategic plans of FAA
The strategic plans of the FAA (Federal Aviation Administration) are the objectives, rules, and guidelines set to regulate the body of FBO (fixed-base operator) for better operations and efficiency work. Not only for FAA, but every other company (organization) also has to set a comprehensive strategic plan that guides and determines its output. Comprehensive strategic plans transform for efficiency, active and more agile that improves reply’s to dynamic aviation atmosphere and continue to serve stakeholders.
In history, most of the AIR uses the bottom-up rules and approaches for planning and guidelines. This approaches improves the process of success and many innovative concepts.
The strategic planning approach allows better leverage and a more fabulous idea in organizations and speeds the progress toward transformation. Frame worker is provided, which advances the priority actions toward organizations and processes. These schedules are coordinated and captured though the implemented plan and integrity. The output success depends on insight from and within the air and from stakeholders not forgetting active engagement
Aviation is rapidly changing from drones to commercial and supersonic flight. These changes are challenging those working to ensure aviation efficiency and safety not only to the government but also to the private sectors. Aircraft are undergoing these transformations that provide the changing environment that is effective and efficient. Eight independent vision elements transform the blueprint characters and collect advances safety in the air and related outcomes. This document (eight vision element in blueprint) compresences the strategic plans to ensure the translation of initiatives that will improve effectiveness and efficiency or aircraft safety certificate system. This aspect provides the system regulation and standards on Federal Aviation Administration (FAA), and industry interact is tight and adheres to laws and regulations.
All kinds of stuff (employee) from the front (senior) to junior should contribute to the public service missions and align their work for the transformation of the FAA goals. They should, too, communicate strategic planning and priority guides to priories and execute initiatives for FAA lines of industry. Behavior is also crucial for success and transformation, thus benefiting and providing a valuable report on the strategy. The updates should be done periodically on progress and adjust the planings, goals, and objectives.
Aircraft in the future will be fundamentally changed as compared to today because the system will be under an approach that considers how information and decisions across will impact the risk of people’s life. There will be the assurance of regulatory compliance and methodically leveraging stakeholders by ensuring all systems are warranted.
Strategic planning in Financial Management
Strategic financial planning is the process of managing organization finance to increase productivity or succeed. This aims to maximize shareholders to attain company goals and objects. For a company/organization to achieve its, it needs to define its objectives and quantity the potential resources it has to draw a specific plan to use toward its set goals. The financial management plan is all about creating a profit forum and accepting returns on investment. This also involves proper control, allocations, understanding, and liability, which ensures the operation of all finances and items like revenue, cash flow, account receivable and payable, and expenditure are well managed and balanced. The company should ensure continuous evaluation, adjusting, and planning that keeps the company on the right track and focus on long term goals. A strategic company makes financial decisions and plans based on the success that, in the coming days, should expect specific profit output, which is imaginal. A firm sometimes tolerates emerges and unexpected losses. For strategy in financial management, a company must be involved in sacrificing, adjusting the scale of production, and readjusting short-term goals to attain its long-term objectives. If a company or organization worked under loss bases previously, it might reduce its expenses, which includes: reducing the kinds of stuff (employees), closing facilities, among others.
The long term and short term trade are often needed to be planned with prior stakeholders. For example, a shareholder can come up with a decision that affects the company’s production flow and companies’ share price in the short term, although the production in the long term may remain more solid. These cases are rare. The main aim of strategic financial planning and management is to make a profit.
Strategic planning for risk management.
Strategic risk management is mitigating, identifying, and quantifying any risk that may affect company or organization strategy, strength, strategy execution, and objectives. Studies from various companies show that all risk accounts are approximately 60 percent for highly declined market capitals. A company, rises his strategic risk when it fails to forestall the markets’ needs in time to meet the clients. Some of the companies fail because of unmatched manufacturing processes that fail the customers. Risks in the company can be eliminated. This is achieved by overcoming the pressure in management, avoiding unnecessary loans, and ensuring the company. Insurance compensates the company in case of a risk that failed to produce positive results.
STRATEGY PLANNING OF REVENUE MAXIMIZATION
This is the company’s conjectural objectives or organization that tries to trade at a price that achieves the highest sales revenue. This happens when a company revenue from the trading at the then marginal unit. For example, if the marginal productivity or revenue is positive, the extra sold unit must be added to the tax, and the maximization of income will not be reached. It is only in the case of when marginal revenue is at zero, and the total revenue will be high. When the company stops the shortness of this quantity, it means that TR fall, and MR becomes low (negative).
The revenues for many airports comes from leases and rents facilities and properties. Other sources of income are from user fees that are facility charges, sales of goods and services provided by the airport such as beverage sales and foodstuffs, fuel flowage fees and aeronautical charts and dicing services. The amount of revenue generated by aviation is used to cater to other expenses and improve airport function. The usage of this revenue should be compassionate because it may determine the positive flow of the airport.
The airport’s ability to raise or grow its revenue depends on many factors, one being the location of the airport. Other minors’ factors are economic climate, availability of properties, completions, sensitivity in price, and consumer demand. It’s only by the revenue generated by aviation users that airports can meet its operating costs. If the price (value) is higher than the tax, the airport can compare its price to another airport by considering to conduct its charge and rate. If an airport rises his charge price, it risks losing its clients, and this may affect the revenue as when the sales are low, productivity too is small, and this affects the margin of productivity.
Strategic plan for safety management
Several strategic and specific plans build basic safety. Safety is a vital tool in many airports around the world. Companies are advised to ensure safety rules and regulations are followed. Ignorance is one of the facts that cause accidents and damages. All safety precautions and regulations for the insurance company are well noted from Different Company. Most of the companies, especially air, have ensured its employee and clients. But this is not common to every company. Safety and accident-free environment create better working conditions. Nobody likes risking his/her life.
Strategic plan for Customer service, trading, and marketing.
Customers are the key determining factor for the success of the company. Every output depends on how strategic rules and plans for the service of the customers are highlighted. Good outline and quality services increase productivity because a good relationship between the company and the customers increases trade and marketing. Most of the companies sell their product in commissions, share, and tenders. This can’t be achieved if the strategic plans are imperfect. Customer Not only for FBO only, but every other organization also has its strategic plans highlighted for its customers and trading.
Strategic plan for Lease and venders
A lease and venders and be can be defined as a relationship in trade between the source of finance a vendor to ensure stimulation for finance to a vender is provided. On the other hand, this can be defined as a signed contract between the vender and lease. This working relationship stimulates/provides finance to the venders’ sales. It is only through the extension of leasing customers that vendors’ leasing firm is substituted. The relationship between the vendor (supplier) and a leasing company is to provide finance to stimulate the vendor. This working relationship between the supplier and financing source is also to captive finance in the company and give funding to motivate the sales.