FAA Makes Several Changes to Part 107

At the end of 2020, the Federal Aviation Administration made several changes to the regulations that affect Part 107.  Usually hearing about new government regulations would make one think of restrictions to an industry. However, many of these changes are beneficial to the drone industry.  It makes perfect sense. In order for the industry to advance into drones performing everyday tasks, these changes are necessary. 

Drone pilots operating under Part 107 will now be able to fly at night without a waiver. Proper equipment is necessary. “The small unmanned aircraft must have lighted anti-collision lighting visible for at least three (3) statute miles that has a flash rate sufficient to avoid a collision (FAA.gov).”

The new rule allows drone pilots to fly over people as well. It is not intended the drone will not fly over congregations of people over a long period of time. It is only meant to fly over people incidentally as it travels.

Pilots can now fly over vehicles. Vehicle owners must be notified if the drone will fly overhead for an extended period of time. This notice is not necessary if the overhead flight is just incidentally during the normal flight path.

In addition, it seems as though the Part 107 certification will not require a test past to be passed every two years. After the initial certification, the F.A.A. website mentions that “online recurrent training” will be required. The website is not clear about what that means exactly, but it makes sense that constant training and updates on new regulations will make pilots better than to require a test to be passed every other year.

Amazon has been testing the use of drones to deliver packages (CNN). Federal Aviation Administration Part 135 is required for Amazon to make deliveries which is different from the Part 107 changes that will affect most drone pilots. Changes in the regulation are necessary for drones to become more mainstream in society. As technology advances drones will have even more uses in society.  It is exciting to learn about the new changes to come and how it might positively impact the industry.

https://dronerush.com/part-107-license-flight-over-people-night-flight-faa-rules-22220/, Retrieved on 2/27/2021

https://www.faa.gov/uas/commercial_operators/operations_over_people/, Retrieved on 2/27/2021https://www.cnn.com/2020/08/31/tech/amazon-drone-faa-approval/index.html, Retrieved on 2/27/2021

New Manufacturer of Drones to Arrive

The drone market will see a new supplier soon. Sony has recently announced that they will start to manufacture drone camera/videography products in the spring of 2021. The new line of drones will be known as “Airpeak.”  This is exciting news for drone enthusiasts and commercial drone pilots alike. More competition in the market only can be beneficial to consumers purchasing their products. It will force companies to keep pricing competitive and continually innovate their product line.

Sony has not announced many details on the product as of yet. Sony put an image of the drone on their website.The company stated the Airpeak drone will lead in the area of  the “creation of the unprecedented value through its imaging and sensing technology as well as 3R technologies (Reality, Real-time and Remote) in the drone area. (Sony.net).” It seems as though the product will be marketed toward professional photographers who are already well familiar with quality Sony products. The hobbyist will need to continue to enjoy DJI drones which is the current market leader. Although more competition could lead to lower prices, I am speculating this product will have a high price tag.

It will be interesting to see how people react to the rollout of this innovative, new product.  I know many have called for more competition with DJI. I believe this product introduction will only help the industry.

https://www.sony.net/SonyInfo/News/Press/202011/20-091E/, Retrieved on 2/21/21

https://www.nasdaq.com/articles/sony-unveils-smallest-class-of-drone-capable-of-carrying-alpha-camera-system-2021-01-12, Retrieved on 2/21/21

Ent 645 Elevator Speech

Ent 660 Week 7 Response

Humility in a manager seems like a contradiction. Managers are looked up to by the people that report to them in the workplace. Most managers desire to be strong leaders. But how far should a manager take their efforts to have an appearance of the boss who always has the answers and makes the right decision every time? Joseph Heagney in Fundamentals of Project Management (2012) says, “The macho notion of infallibility has been with us for a long time, and I believe it is the cause of many of our organizational problems. It is time to abandon it for reality.”

A collaborative leader is one that is much different from someone who is boastful. According to Paul Keitzer in a 2018 article, “A collaborative leader views the entire team as equals, a group of skilled and talented individuals and each possessing their own set of expertise that they bring to the company.” This kind of leader encourages teamwork by valuing each individual’s skills and talents.

Lacking humility will lead to micromanagement. A micromanager turns most people off. It discourages innovative ideas from coming to the table from the team. It certainly does not free up a manager to perform more critical tasks. Employees will eventually learn to expect their manager to guide them every step of the way.

By being a humble leader, one solicits the contribution of everyone in the group. In the process, a better outcome will occur.

Joseph Heagney (2012), Fundamentals of Project Management, American Management Association, 4th Edition, ISBN 978-0-08144-1748-5

Keitzer, P (2018), https://www.business2community.com/leadership/5-reasons-humility-essential-leadership-trait-02026513, Retrieved on 12/3/2020

Ent 660 Week 6 Comments

Evaluating and control of the processes involved in proper project management are the topics of chapters ten and eleven of Fundamentals of Project Management (2012). Controls are necessary so that the project remains on schedule and under budget. However, it is necessary not to be a micromanager. Allowing employees the freedom to make decisions based on the guidance and general principles of the project will prevent employees from becoming burnt out and increasing the engagement of the team. So how do you balance controlling while at the same time not micromanaging?

It starts with planning. If the project is properly planned and each team member has guidelines to work within, micromanaging will not be necessary. Training employees how to deal with situations when they arise can prevent panicked calls to the boss. In addition, it is beneficial to the manager to have employees become increasingly comfortable in their role and learn to take on new roles when necessary.

However it is necessary to provide control on the project. It is important to control situations and not people. Hopefully your team has been trained on how to react to unforeseen circumstances when they happen. It is necessary to determine if tasks need to be adjusted in order to accomplish the goal of the project. Management may have to determine whether the expenditure is warranted or not.

Having a balance between controlling situations and managing people is necessary for the project to remain under budget as well keeping your team’s morale high.

Heagney, J (2012) Fundamentals of Project Management, American Management Association, ISBN 978-0-8144-1748-5

Knight, R (2015) https://hbr.org/2015/08/how-to-stop-micromanaging-your-team, Retrieved on 11/23/2020

Ent 660 Week 5 Blog Post

Scheduling is more than just merely deciding when a task is to be completed. Although the time frame is part of the process. It is important to understand the necessary resources required to complete the objectives of the project. Resources could include both financial and talent. The schedule culminates with the mission, goals, and objectives of the project. Decisions need to be made as to what is required for completion and how long will be necessary.

Scheduling the necessary tasks can be difficult to coordinate when the project is complicated. One popular tool is the GANTT chart. Made popular by Henry Gantt in the early 20th century, it helps organize everything about a project. It is theorized that the actual inventory of the chart is Karol Adamieki about ten years earlier. The GANTT chart will merge tasks on the vertical line of the chart with time on the horizontal line on the chart. It seems like the GANTT chart is an important tool in the project manager’s toolbox. There are many software packages available to a project manager as I have found out from the many advertisements I have seen since I have been researching GANTT charts.

Before beginning your GANTT chart, it is important to complete your “Work Breakdown Structure” which I discussed in the last blog post. The WBS will provide you with the list of tasks that will be the vertical line on the GANTT chart. From there, decisions need to be made as to how much time and money each task will require. 

Within the next week, I will be completing my GANTT chart for my business concept, NC Aerial Imaging Service. The chart will layout the necessary tasks and timeline required to start the business.

https://www.youtube.com/watch?v=akO2Lf1fHmM, Retrieved on 11/16/2020

https://www.youtube.com/watch?v=fB0wsdmV3Sw&t=1s, Retrieved on 11/16/2020

https://www.projectmanager.com/gantt-chart, Retrieved on 11/16/2020

Heagney, J. (2012) Fundamentals of Project Management, American Management Association, ISBN 978-0-8144-1748-5

Week 4 Ent 660 Blog Post

Week 4 blog post

In the next part of the reading, risk management and the work breakdown structure is examined.  Risk management is part of the planning process. Risk factors need to be understood so that they can be properly mitigated. If mitigation is not possible, then contingency plans need to be put into place. Not every situation can be foreseen, but if the most probable types of issues that could possibly arise are thought about ahead of time, then the problems that result can be properly budgeted.  Risks usually involve an expense, so this is an important part of the project management process.

The Work Breakdown Structure, as described in Chapter 6 in Fundamentals of Project Management, is a method of breaking down a complicated task. Breaking down the necessary tasks in planning a business allows an owner to not only properly delegate work to individuals, but also helps to organize what needs to be done along the way. 

In an ideal situation, the executive in charge of one overall goal would decide on the structure breakdown of the assignment. For example, a sales manager might decide how many calls a salesperson would need to make in order to bring in the appropriate revenue. Another example is that a financial manager might decide on the expense budget for the company.

Many decisions have to be made on a day to day basis. It is the responsibility of the owner to make sure all decisions are made within the parameters of the business philosophy that they are utilizing. Cohesiveness among managers will be key to accomplishing the goals of the company.

Heagney, J (2012), Fundamentals of Project Management, American Management Association, ISBN 978-0-8144-1748-5

Week 3 Blog Comment for Ent 660

Planning is a “painful (Pg 33)” task as Joseph Heagney states in “Fundamentals of Project Management (2012). Most people would instead rather roll up their sleeves and jump into the task. I know I do when faced with a project to accomplish. However, planning is essential to consider before embarking on your project journey. Without proper planning, it will almost certainly set up any complicated activity for failure. Planning will set up actions necessary to meet your end goal. It also establishes your goals and means of accomplishing them. It determines what resources are required. Which people will need to have a role will need to be decided. Tasks will need to be appropriately divided by role and competency. Looking at the entire project from start to finish will give anyone the best chance for success. Considering the whole project before starting is why, in the Master of Entrepreneurship program at W.C.U., students are encouraged to not only think about how to start or continue your business, but what your exit plan is as well.

In the assigned reading, I am lined up well with our upcoming assignments of developing a mission statement and objectives. Writing a company mission statement, in the beginning, is a great starting point to figure out what your business to achieve first. Next are what your objectives will be. Objectives are the pursuits that a company reaches for to meet your ultimate goal. Heagney states that two questions need to be understood to decide on what your objectives will be. “What is our desired outcome
(Pg 51)?” and “How will we know when we achieve it (Pg 51)?” Deciding on the end goal and then working your way back is effective planning

Goals need to be broken down into the steps of tasks to be accomplished. Otherwise, they are just a dream. A great quote from the book is, “Goal setting has been traditionally based on past performance. This tended to perpetuate the sins of the past (J.M. Juran).” What happened in the past does not necessarily predict the future. A business owner can change the future by taking deliberate steps to meet its goal. As entrepreneurs, it is essential to know your craft and run a business.

Heagney, J (2012), Fundamentals of Project Management, 4th Edition, American Management Association, ISBN 978-0-8144-1748-5

Ent 660 Week 2 Comments

The first two chapters of Fundamentals of Project Management (2012) describes what project management is and what a project manager does. Each student in our cohort could look at themselves as a project manager of each course. Planning, executing, and breaking down complex tasks is what each course entails. Besides, we have our classmates that review and make suggestions to improve the project along the way. The project manager’s goal is to initiate the overall vision and strategy to complete the project. During the project’s completion, the project manager will monitor the quality and ensure it is completed on time.

Starting a business is a complex project that requires a lot of planning and strategy. A start-up manager needs to find customers, complete the work, and make sure that is all done while making a profit. There is a lot of moving parts in a start-up. Many times, the founder is also the marketing manager, sales manager, accountant, and janitor. 

Understanding how to conduct a project efficiently will lead to a successful business. Knowing how to manage “performance, time, and scope (2012)” will naturally lead to a profitable business. In upcoming posts, I will discuss project management’s details and how it relates to a small business start-up.

Heagney, J. (2012) Fundamentals of Project Management, 4th Edition, American Management Association, ISBN 978-0-8144-1748-5

Liquidation of a Business

Liquidation of a business is probably the last choice of harvesting because it is the least advantageous to the owner. Other means of exiting the company would be in the founder’s financial interest, such as selling outright or merging with another business. 

Not having a proper exit strategy will usually result in the business’s liquidation if the owner dies, takes another job, or opens a different company. Deciding on an exit strategy before you need one will give you the best outcome for gaining capital from your exit. If all else fails, some of the capital tied up in the business will be recovered by liquidation.

Typically, liquidation involves the sale of the physical assets of the business. It may raise capital for the purpose that the owner intends, but usually at a loss. Optimizing the sale proceeds is why the owner should make sure the equipment is in the best condition possible. It is essential to understand the value of your equipment or inventory. An appraisal can help the owner to know what to accept in the case of a retail liquidation. Auctions are a common means of liquidation. It is an easy way to recover the highest dollar value of your physical assets. In addition to auctions, negotiated sales are a means for liquidation. A negotiated sale is when both parties are willing to discuss pricing. Having one buyer for everything could save time and money by offering one low price to take everything off their hands.

It is essential to remember the intangible assets that you have worked hard to build up. One example is a customer database. A customer list could be valuable information for someone in the industry.

It would be wise for an owner, no matter what the means of liquidating their assets, to make sure the buyer understands that the sale is “without recourse.” Without recourse refers to the fact that the assets are sold “as is, where is (SBA.gov).”

There are liquidation companies that can help a business get the most money they can for their assets. Hiring such a company would be wise as they assist with the entire process, including marketing the assets’ sale. 

Since one will only receive a percentage of the actual value of the business’s assets, liquidation should be the last option of consideration. Having an exit plan from the start of your business will give you the best financial outcome in harvesting the business.

https://www.sba.gov/managing-business/closing-down-your-business/liquidating-assets+, Retrieved on 9/27/2020

Kagan, J. (2020), https://www.investopedia.com/terms/w/without-recourse.asp, Retrieved on 9/28/2020

https://www.bizfilings.com/toolkit/research-topics/running-your-business/exit-strategies/liquidation-as-an-exit-strategy, Retrieved on 9/29/2020