Problem 1: Your FBO has been struggling financially for the past two years. As a result, you hired a business management consultant who advised conducting industry market research and sales planning processes to tackle the situation. As the manager of the FBO, do you believe conducting industry market research and sales planning processes will change the narrative? How would you conduct the industry market research and sales planning processes if you believe? What strategy will you use to tackle the situation if you do not believe?
Problem 2: Like any other business, developing a budget for an aviation business is really profit planning. As the manager of XYZ FBO, what steps would you take in developing a budget for the year 2023?