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Management Control Presentation: Assuming Control at Altex Aviation (A)

Altex Aviation
by

Omar El Naggar

on 7 December 2012

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Transcript of Management Control Presentation: Assuming Control at Altex Aviation (A)

Assuming Control at Altex Aviation (A) Theodore Edwards & Frank Richards What Changed? Aircraft sales The Beginning... Edwards Richard Corportate finance department with electronics firm - LA Market Planning in New York consulting firm - Dallas New Company's Criteria Low investment
Managerial skills
Fragmented and nonoligopolistic
Growth rate 20% per year Altex Aviation - One of eight fixed-base operations at San Miguel Airport - Served Texas.
Had a lost of $100,000 on sales of $2,000,000 in fiscal year 1971.
This left the company with a negative net worth. The Purchase Stock of the company for $10,000 each.
Decentralize
Profit Center
Wrong predictions The Company The Fuel Activity Retail Fueling, Wholesale Fueling, Fuel Hauling, Rental Cars, Tie-Downs Service & Parts Flight training Avionics Aircraft Sales Accounting Ted's Policies Revenues and Expenses
Bonus
Pricing Authority
Buying Power
Hiring & Firing
Salary Authority Profit centers Accounting System Each department was in charge of their own accounting Ex 6 Ex 7 Ex 8 Income & Operating Statement Ex 5 Ex 4 Cash Management Motivate the departments to manage their own cash. Profit Center Report - Whole Sale Fuel Ex 4 Cash Management & Accounting Task Guidance Daily Reports
Accounting and operational
Ledgers Ex 1 Ex 2 Ex 9 Ted Control
Educating
Dealing
Establishing Frank Aircraft Sales Piper Aircraft Corporation Frank Negotiate Ted Piper's Reporting Altex & Piper Problem? Issue? Transparency 5 aircrafts in 6 months May and August 1972
June and July 1972
Full transcript