Business Management

BM1: Communicate the strategic value of business aviation

1. Identify the unique capabilities of business aviation to achieve company goals
2. Use appropriate communication techniques and tools to convey message of value to stakeholders

BM2: Determine the aircraft ownership, utilization, and operational structure

1. Recognize applicable civil aviation authority rules and regulations to include SEC requirements
2. Recognize applicable international, federal, state, and local tax implications
3. Utilize best practices for developing, reviewing, and implementing policies and strategies

BM3: Manage budgeting and financial processes

1. Manage the aviation department budget based on generally accepted accounting principles, reports, and components
2. Integrate the aviation department budget with the organizational budget and financial systems
3. Recognize applicable regulatory requirements
4. Apply internal controls and audits within the department

BM4: Manage aviation department processes in accordance with strategic, operational, and tactical goals

1. Identify necessary elements and strategies for implementation
2. Utilize data for goal and business plan achievement
3. Identify required modifications to tactical plans
4. Employ techniques to measure and promote service excellence

BM5: Implement procedures to safeguard information and intellectual property

1. Comply with privacy and confidentiality requirements/regulations including cybersecurity
2. Apply policies and procedures for document retention and data governance
3. Identify legal requirements and protections governing intellectual property and proprietary information

BM6: Utilize methods to optimize aviation department asset management

1. Conduct travel analysis
2. Identify the principles of cost-benefit analysis
3. Report on use of assets
4. Identify principles of a comprehensive asset utilization audit
5. Utilize business resources
6. Identify applicable contract terms, conditions, and clauses
7. Integrate supply chain resources

BM7: Manage in a socially and environmentally responsible manner

1. Employ strategies to promote diversity, equity, and inclusion within the organization
2. Foster community engagement and relationships
3. Engage with local/regional aviation groups and airport communities
4. Assess operational sustainability
5. Manage sustainability strategies
6. Comply with reporting regulations and requirements

BM8: Identify, develop and describe steps to implement an organizational risk management strategy

1. Recognize basic risk management principles
2. Identify and categorize specific risks potentially facing an organization with respect to the aviation function
3. Assess asset protection and liability insulation strategies