Avionics News May 2016 - 52

series
At the 2013 AEA International Convention & Trade Show in Las Vegas, AEA President Paula Derks asked member companies
the question: What's working for you? Derks challenged AEA members to share their success stories, best practices and
ideas that are working for their respective companies. This article is part of a series that highlights how AEA member
companies recognized challenging economic circumstances, and how they responded and overcame them.

What's

Working?

Business initiatives that are elevating companies to success
S T O R Y

B Y

T H O M A S

I N M A N

Avionics Installations
takes office
space seriously

T

here are many methods one can use to
of-mouth advertising. A happy and satisfied customer
predict or measure the success of a business.
is great promotion, and many happy and satisfied
Accountants like to use ratios and numbers.
customers make a strong impact.
Many people are familiar with
Two more indicators of company
ratios, such as the current ratio and
success may not be as well known,
the quick ratio. The current ratio
and perhaps in some cases, not
indicates a company's ability to
taken quite so seriously.
pay short-term debt, whereas the
The first is employee satisfaction.
quick ratio indicates the company's
A rewarding work environment
liquidity. Other numeric indicators
will help a business attract highinclude profit margin and return on
quality employees who will stay
investment.
on board. Turnover is costly, and
To measure achievement,
a high turnover rate will reduce
THE ACTION MIGHT
company management may look to
the numeric indicators. But happy
BE DIFFICULT TO JUSTIFY
see if the customer base is growing.
employees will increase the
USING NUMBERS
With good records, these success
likelihood that your customers will
AND RATIOS.
indicators can be relatively easy to
be happy, as well.
measure; however, numeric data
The second is owner satisfaction.
isn't the only measure or predictor of business success.
This indicator may be more important than profitability.
Customer satisfaction is a good way to measure the
The unhappiness of an owner will infect company
success of any company. This is why so many AEA
employees, and eventually, the customers.
member companies have been successful through wordOn occasion, a company must do something for its

ON OCCASION, A
COMPANY MUST
DO SOMETHING
FOR ITS OWN
SATISFACTION.

52

avionics news

*

may

2016



Table of Contents for the Digital Edition of Avionics News May 2016

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Avionics News May 2016 - Intro
Avionics News May 2016 - Cover1
Avionics News May 2016 - Cover2
Avionics News May 2016 - No label
Avionics News May 2016 - 2
Avionics News May 2016 - 3
Avionics News May 2016 - 4
Avionics News May 2016 - 5
Avionics News May 2016 - 6
Avionics News May 2016 - 7
Avionics News May 2016 - 8
Avionics News May 2016 - 9
Avionics News May 2016 - 10
Avionics News May 2016 - 11
Avionics News May 2016 - 12
Avionics News May 2016 - 13
Avionics News May 2016 - 14
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Avionics News May 2016 - 16
Avionics News May 2016 - 17
Avionics News May 2016 - 18
Avionics News May 2016 - 19
Avionics News May 2016 - 20
Avionics News May 2016 - 21
Avionics News May 2016 - 22
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Avionics News May 2016 - 24
Avionics News May 2016 - 25
Avionics News May 2016 - 26
Avionics News May 2016 - 27
Avionics News May 2016 - 28
Avionics News May 2016 - 29
Avionics News May 2016 - 30
Avionics News May 2016 - 31
Avionics News May 2016 - 32
Avionics News May 2016 - 33
Avionics News May 2016 - 34
Avionics News May 2016 - 35
Avionics News May 2016 - 36
Avionics News May 2016 - 37
Avionics News May 2016 - 38
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Avionics News May 2016 - 40
Avionics News May 2016 - 41
Avionics News May 2016 - 42
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Avionics News May 2016 - 47
Avionics News May 2016 - 48
Avionics News May 2016 - 49
Avionics News May 2016 - 50
Avionics News May 2016 - 51
Avionics News May 2016 - 52
Avionics News May 2016 - 53
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Avionics News May 2016 - 57
Avionics News May 2016 - 58
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Avionics News May 2016 - 71
Avionics News May 2016 - 72
Avionics News May 2016 - Cover3
Avionics News May 2016 - Cover4
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http://www.brightcopy.net/allen/avne/52-10
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https://www.nxtbook.com/allen/avne/52-7
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https://www.nxtbook.com/allen/avne/51-12
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