Alabama State University Entrepreneurial Professionals Interview Write up Paper

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This assignment will involve your conducting an informational interview with two different entrepreneurial professionals. It is best to interview professionals from two different organizations. Your interviewee may not be an immediate family member, fellow student, nor be one of your instructors.
I have included 12 Base questions for the interviews in these instructions as an attachment. You will need to ask more questions that are SPECIFIC to the business you are planning. Please take care in coming up with relevant and specific interview questions…remember, this person is extending you kindness by granting you their time. 
Entrepreneurial Management Interview Questions.docx Download Entrepreneurial Management Interview Questions.docx
In your write-up, please make sure to thoroughly cover the following:

Please indicate how you conducted the interview in your write-up.
You will need to capture the dialogue from the interview.

I will need to see the questions you asked and the interviewee’s responses.
After you have detailed your discussion, you should detail in no less than two pages your takeaways from the interview.

Detail the discussion (transcript of the interview capturing your questions and their answers) Then…the minimum requirement for YOUR reflection is two pages double-spaced, Times New Roman, 12 point font. 

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Base Questions for Entrepreneurial Interview
1. Looking back, and knowing what you do now, what are some things that you might do
differently when starting your business?
do more research, save more money
2. What was the hardest/most challenging part of starting your business?
staffing, organization
3. What surprised you the most in starting your own business?
the lesson I learned
4. If you could do it over again, what is one business decision you would not repeat?
choosing correct equipment and correct staffing
5. How did you keep your employees committed during the beginning of the venture
when business was slower, and success may have been uncertain?
treat your employee and family
6. In regard to the initial startup, how did you secure financing? Personal Savings?
Personal Loans? Investors? Friends/family?
personal loans and family
7. With more and more people wanting to pay online and have a contactless experience,
how have you accommodated customers who prefer ordering items online and/or
offering in-store product pickup?
not available
8. How are payments accepted for your product/service? Do you incorporate cash apps?
(pay pal, cash app, apple pay, etc.)
cash, creadits
9. How has your target customer changed since you opened?
No any change we accommodate everybody
10. In the beginning, how did you estimate your financial projections/sales?
by customers and by advertiser
11. How did these financial estimates change from the early stages of your venture?
(example: how did it look in your first 3 months, compared to the next 6 months, to
completing your first year?)
proceeds gain more profit
12. If you could offer one piece of advice to an entrepreneur starting his or her own
business, what would that be?
do more research before you start
13. Are you have any plan to open more business?
yes
14. Do you want to open business in different States?
yes, every states

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Explanation & Answer:
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Description BeGood Baking Supply is a small bakery supply company formed as a closely held corporation. The company supplies raw baking materials, paper goods, and equipment to restaurants and bakeries in three states in the upper mid-west. Most of its business, however, is located in a large metropolitan area. BeGood wants to increase its presence in the region and serve five states. In fact, the owners of BeGood would like 75% of their business to come from throughout the region rather than the current metropolitan area. In order to do this, the owners understand they must diversify offerings and lines of business.Currently, BeGood has a phone center where customer orders are taken; these orders are then sent to shipping where the order is filled in its large warehouse and shipped within four days. BeGood outsources its shipping to a local trucking company. Once the order ships, all paperwork goes to the accounting department where it is entered into the accounting system. BeGood still uses the same accounting system it has used since the inception of the company. All aging of receivables and other analysis is done using Excel spreadsheets. Purchasing and tracking of inventory are done solely by the warehouse manager. Invoices for inventory purchasing are sent to the accounting department when goods are received.The owners at BeGood are wondering how they can utilize an online presence and further automate its systems in order to facilitate its growth and diversify its business. The owners may also like to expand into the retail business.You have been hired as a full-time staff accountant at BeGood Baking Supply, and have been given the task of evaluating and recommending a viable accounting information system for the accounting and financial data of BeGood in order to facilitate expansion and diversification. As you begin your research, you realize that many departments are involved in the information system, and communication is key.InstructionsAs part of the BeGood AIS assessment, you must address risks, threats, and controls in compliance with the COSO framework. You know the external auditor will also want this information, so you decide to document it now. In preparation for the company external audit, you prepare the following documentation to assist the audit team in starting their work:Document a new AIS with a flowchart that will address the size and scope of BeGood in its current form.List at least three vulnerabilities and appropriate control measures to manage the vulnerabilities for each function (department) within the flowchart.Devise controls based on threats in a general ledger reporting system.Evaluate at least one security policy or procedure that would minimize threats and risks. 3 attachmentsSlide 1 of 3attachment_1attachment_1attachment_2attachment_2attachment_3attachment_3.slider-slide > img { width: 100%; display: block; } .slider-slide > img:focus { margin: auto; } Unformatted Attachment Preview Threats, Risks, and Controls 1 Threats, Risks, and Controls Name Institution Threats, Risks, and Controls 2 Documentation aids in explaining how Accounting Information System (AIS) operate thus making it a vital part of any computing system. Documentation in AIS describes the different tasks to record accounting data as well as the procedures that users must perform to operate computer applications, steps AIS follows during processing and the logical and physical flows of accounting data through the system. When designing a new system, documentation helps in ensuring the integrity and completeness of the designs and identifying design flaws (Marshall & Steinbart, 2017). Well-written documentation at BeGood would be crucial in reducing system failures as well as decreasing the time spent correcting the errors within the systems. The documentation would be inclusive of a reimbursement claim that would help in depicting the size of the organization. Employee reimbursement Business Entertainm ent No Prepare Check request forwarded to accounts payable Send request Yes Yes Local Account Request classification Yes Allowable No Figure 1. Reimbursement flow chart No Explore other reimbursement possibilities Threats, Risks, and Controls 3 The dependence of the accounting information system continues with the continued development of technology. However, the continued growth of technology has resulted in the development of various risks and vulnerabilities to AIS. The most common vulnerability to AIS is cybercrime where criminals use computer-related activities to trespass into computer systems to steal or manipulate the stored data (Alghazzawi, Hassan, & Trigui, 2014). The accounting information system contains sensitive information of an organization including financial records when it gets to the wrong hands can hamper the functioning of the organization. Some of the measures of dealing with cybercrime include malware prevention, secure configuration, network security, and the use of strong passwords. The use of secure configuration entails the development of secure baselines and managing the configuration and the use of the organizations ICT systems well. The continued monitoring of the system and the network helps in identifying intrusion early and could thus be eliminated before it damages the system. Virus attack is another vulnerability of AIS that could lead to the partial or complete breakdown of the system. Some of the viruses may allow for system intrusion thus allowing a hacker into the system and may tamper with information within the system. A measure taken to prevent virus attack include taking preventive measures such as the installation of antiviruses that would protect the system from virus intrusion. There is also the risk of data loss as a vulnerability of AIS that may arise because of system failure (Alghazzawi, Hassan, & Trigui, 2014). It is, therefore, a standard procedure to back up the accounting systems data and saving the backup at a safe place. Backup ensures that in case of data loss, the organization can recover its data thus ensuring continuity. The general ledger and reporting systems have four basic functions including updating the general ledger, posting adjusting entries, preparing financial statements, and producing managerial reports. Threats to ledger and reporting system include unauthorized Threats, Risks, and Controls 4 access to the general ledger and loss or destruction of the general ledger. Unauthorized access to the general ledger can result in the leaking of the confidential data to competitors or the corruption of the general ledger thus providing a means for concealing the theft of assets within the organization (Hall, 2012). The security measures for protecting the general ledger and reporting systems include the use of IDs and passwords to limit the number of people accessing the ledger and the read-only access to prevent the manipulation or the correction of the ledger. It, therefore, limits the number of people accessing or changing the ledger to the authorized personnel only. There is also the use of adequate backup and disaster recovery procedures to protect the general ledger from data loss or damage. Threats, Risks, and Controls 5 References Alghazzawi, D. M., Hassan, S. H., & Trigui, M. A. (2014). Information Systems Threats and Vulnerabilities. International Journal of Computer Applications, 89(3). Hall, J. A. (2012). Accounting information systems. Cengage Learning. Marshall, B. R., & Steinbart, P. J. (2017). Accounting Information Systems. Pearson Education Limited. REQUIREMENT 1: Current AIS Flowchart fer &alios/Accoundog Process Proposed AIS Flowchart for Sales/Accounting Process AIS verifies inventory is in stock Ortiers received E phone cute Ontlers get to werbus Custotnes places order using online ordering system Orders fulfilled by wees stuff Order fulfilled by warehouse stafi Onder appel Billing imice emailed to customer Billing invoice generated in AIS Order informatica sal to accounting Accounting creates munce Order slupped by local trucking company by local tracking QUE AIS automatically produces Accounts Receivable aging reports Customer receives arder Invoice is sent to customer Accounting oras coraties reportin Excel Acomtime falonsap tas past due invoices Accounting follows up on post dhe invoices Grading Rubric F F с B A 0 1 2 3 4 Not No Pass Competence Proficiency Mastery Submitted Not No documentation of a new AIS with a flowchart Minimal documentation of a new AIS with a flowchart Basic documentation of a new AIS with a flowchart Full documentation of a new AIS with a flowchart that Submitted that addresses the size and scope of company in that addresses the size and scope of company in its that addresses the size and scope of company in its addresses the size and scope of company in its current its current form. current form. current form. form Not No vulnerabilities or appropriate control measures List includes only 1 vulnerability and appropriate List of at least 2 vulnerabilities and appropriate Full list of at least 3 vulnerabilities and appropriate Submitted to manage the vulnerabilities for each function control measures to manage the vulnerabilities for control measures to manage the vulnerabilities for control measures to manage the vulnerabilities for within the flowchart given each function within the flowchart. each function within the flowchart. each function within the flowchart. Not No explanation of controls devised based on Minimal explanation of controls devised based on Basic explanation of controls devised based on Full explanation of controls devised based on threats in Submitted threats in a general ledger reporting system. threats in a general ledger reporting system. threats in a general ledger reporting system. a general ledger reporting system. Not No evaluation of security policy or procedures Minimal evaluation of at least one security policy or Basic evaluation of at least one security policy or Full evaluation of at least one security policy or Submitted that would minimize threats and risks. procedure that would minimize threats and risks. procedure that would minimize threats and risks. procedure that would minimize threats and risks. Purchase answer to see full attachment Tags: accounting system metropolitan area Warehouse Manager trucking company baking supply User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
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