Question 1:

In my opinion, ideas can come from a lot of different sources, and a lot of
your ideas may overlap with many others. However, the thing that makes
ideas different in execution is their roots. Let's find out the basic starting
point of business ideas.

Ideas is the common name of one of the intangible products created by

human intelligence. Have you noticed that these products are always
something “mutant” compared to existing solutions and are born with the
purpose of solving a certain problem

For example, when you wake up in the morning you can hardly wake up,
you suddenly realize you can use ice to wake up, that is an idea. Or when
you come across a pile of garbage with a lot of plastic bottles, you think
you can recycle these plastic bottles as toys, here's an idea.

Ideas often appear unexpectedly, often not by you intentionally, there are
spontaneous ideas, there are also ideas based on needs and thoughts that
you set out in advance. Business ideas take an important role in business.
Business ideas are innovative when it comes to financial returns, so they
often have a number of characteristics:

Superiority: the business idea is intended to create an advantage for a

business organization or individual business, so the idea must emphasize
some specific advantage of the product or service over everything
business. Focusing mainly on high-tech products: electronics, machinery,
etc.

Uniqueness: this is the most outstanding aspect, showing the creativity of

a usable business idea. If excellence cannot be achieved due to limited
technological investment, emphasize the difference. novelty: this is the
aspect that demonstrates the value of a business idea. They need to be the
first idea, not yet on the market. Using an old product or old service
available for business does not show creativity, so it cannot be called a
business idea properly.

Practicality: This is the aspect that proves the real profitability of a

business idea. Usually, a business idea is created around human needs, it
cannot be separated from that. Business ideas find in reality needs and
fulfill them. Therefore, businesses often focus on activities of collecting
customer opinions to improve products. Some businesses even go so far as
to create demand.

3 ways to have business ideas:

1. Combination integration

Creativity is created from what is already available, you just need to

integrate or combine things that seem old together, you can own a creative
business idea "like no other". An example of this is integrating a phone,
camera, and voice recorder into a mobile device that makes any user as
excited as it is today. Or in many cases, you can also combine services
together such as booking airline tickets and hotels on the same app… All
these integrated services bring you certain business efficiency when
starting a business. Bringing your business idea to life.

2. Problem Solving

Human life is full of problems to solve and thinking of ways to solve those
problems with your own product or service is a creative business idea that
you need to embrace. These problems seem very small, but when solved,
they bring you more unexpected results than you expected when you
started implementing. To find this problem to solve, you can search for
needs online, talk regularly or listen to other people's problems in life.
That way, you'll see what problems you can solve with a new product or
service, giving your users a perfect experience.

3. Horizontal thinking
Owning a creative business idea is not difficult when you can think
horizontally to find the inadequacies of old products or services. The main
reason is that no product or service is perfect, you just need to change the
utility, shape, color, the purpose is to create a unique business idea that has
no competitors. Horizontal thinking is how you create the new through the
old. The important thing is that in business, you just need to bring the
difference to be able to achieve certain effects, not necessarily get the best
product. For example, you can sell fruit-shaped pillows, corn-shaped
pillows, etc.

Question 2:
Most of the businesses that are trying to create breakthrough innovations
are rooted in the same assumption: "we need more ideas". They will begin
to put emphasis on "thinking outside the box" or "brainstorming" to find
viable ideas, such as creating new products, setting up systems. new
activities or new functions. In fact, in businesses, the problem lies not in
the lack of ideas but sometimes held as leaders are not enough investment
and investment improper for Good ideas already.

Let's take a look at a few famous examples from history. The Kodak
Research Lab invented the digital camera in 1975 but did not develop this
product line, but let Sony, although later, develop another prototype and
become a huge success in the photography industry. number.

Xerox was the first place to develop personal computers but did not invest
in technology, so the great opportunity fell into the hands of Steve Jobs'
Apple. These fascinating examples not only show the mistakes of past
leaders and businesses but also reflect a tendency within each of us –
prejudice against new and innovative ideas, especially when we are faced
with ambiguity, uncertainty (no matter how small). That's the conclusion
of a study published in 2012 by a team of researchers led by Wharton's
Jennifer Mueller.

The conclusions of this research are particularly relevant today, as leaders

and managers still complain that they feel they are working in an uncertain
industry. This uncertainty leads to companies' constant need to innovate.
And the downside of this mentality is always rushing to look for change
without spending enough time and effort to evaluate the ideas that already
exist – especially wasted when it is the valuable ideas that have value. can
help keep the business afloat. Instead of using a traditional hierarchy to
approve ideas, new approval plans can be shared throughout the
organization. It's a solution that has been used by the Rhode Island
Company for nearly a decade. They created a place to gather all the ideas
of employees on the internal website of the business, called "Mutual
Funds". When each person can list a price for their idea - just like listing
on a stock exchange. Each employee is given $10,000 in virtual currency
to “invest” in the ideas they support. In addition to investing, employees
also become volunteers to implement the idea. If an idea attracts enough
support then they are approved and all the participants who support the
idea profit from the project.

In just a few years, this business has reaped huge profits from “Mutual
Fun” – small ideas help create valuable new products, and sales grow by
50% each year. More importantly, the “Mutual Fun” idea marketplace
helps to create an innovative and proactive corporate culture where new
ideas are recognized and developed throughout the company.

Question 3:
Moonlighting refers to working outside normal business hours. Therefore,
an employee may work a normal 9-to-5 job as a primary source of income
but work nights at a different job to earn extra money. Some employers are
okay with moonlighting but have policies that require the disclosure and
approval of outside employment. Other employers strictly prohibit
moonlighting. If you work for an employer that prohibits moonlighting,
and you get a second job, you can get fired. The use of proprietary
knowledge and skills also causes ethical and legal problems. It's clear to
most people that using company equipment for side gigs isn't appropriate,
but you may not know that your knowledge and skills may be considered
proprietary as well. The use of proprietary knowledge and skills also
causes ethical and legal problems. It's clear to most people that using
company equipment for side gigs isn't appropriate, but you may not know
that your knowledge and skills may be considered proprietary as well.

An individual may seek to moonlight or hold multiple jobs for a number of

reasons among which are:

They are hours constrained in their primary job. An individual may be

constrained in the number of hours that he can work in his primary job and
consequently this limits his earnings capacity from that job. In response to
the employer’s inability to offer him enough hours on the primary job, the
individual may choose to take a second job to achieve his desired income
level.

The need to seek heterogenous jobs also triggers an individual to

moonlight. Individuals may choose to work in a second job for reasons
that are not connected to the primary job’s hours of work or earnings. For
instance, an individual may have a second job. In view of acquiring new
skills, deriving job satisfaction, engaging in activities that interest them, or
maintaining a flexible work pattern.

It may lead to a change in career. A lot of research found that

moonlighting is transitory and generally associated with career shifts.
Further, it also found that moonlighting may facilitate job transition, and
act as a stepping stone towards new primary jobs, particularly self-
employment.
Question 4:
The industry life cycle refers to the development of an industry or
business through 4 stages based on the business characteristics typically
manifested in each stage. The four stages of each industry life cycle are
initiation, growth, maturity, and decline. Industries are born when new
products are developed, with considerable uncertainty about market size,
product specifications, and major competitors. Consolidation and failure
topple an industry as it is growing, and remaining competitors will reduce
costs as growth slows and demand eventually declines. There is no
universal definition for the different stages of the industry lifecycle, but
commonly, it can be broken down into initiation, growth, maturity, and
decline. The relative length of each period can also vary considerably
across industries. The standard model usually involves manufactured
goods, but today's service economy can work a little differently, especially
in the area of Internet communications technology.
Stages of the industry life cycle:
1, Beginning stages
The launch stage, or startup, involves the early development and
marketing of a new product or service. Innovators often create new
businesses to enable the production and promotion of new products.
Information about products and industry participants is often limited, so
demand tends to be ambiguous. Consumers of goods and services need to
learn more about them, while suppliers are still developing and honing
their offerings.
2, Growth stages
Consumers in the new industry understood the value of new product sales,
and demand increased rapidly. A handful of key players often become
dominant, and they compete to establish a piece of a new market.
Immediate profits are often not a priority as companies have to spend on
research or marketing.
3, Mature stages
The maturity stages begin with a shakeout, in which growth slows, focus
shifts to cost minimization, and consolidation occurs. Some companies
have large economies of scale, hindering the sustainability of smaller
competitors.
4, Decline stages
Decline marks the end of an industry's ability to support growth.
Obsolescence and developed markets eventually have a negative impact on
demand, resulting in reduced sales. This creates gap pressure, forcing
weaker competitors out of the industry.

Question 5
The master budget is the aggregation of all lower-level budgets produced
by a company's various functional areas, and also includes budgeted
financial statements, a cash forecast, and a financing plan. The master
budget is typically presented in either a monthly or quarterly format, and
usually covers a company's entire fiscal year. An explanatory text may be
included with the master budget, which explains the company's strategic
direction, how the master budget will assist in accomplishing specific
goals, and the management actions needed to achieve the budget. There
may also be a discussion of the headcount changes that are required to
achieve the budget.
A master budget is the central planning tool that a management team uses
to direct the activities of a corporation, as well as to judge the performance
of its various responsibility centers. It is customary for the senior
management team to review a number of iterations of the master budget
and incorporate modifications until it arrives at a budget that allocates
funds to achieve the desired results. Hopefully, a company uses
participative budgeting to arrive at this final budget, but it may also be
imposed on the organization by senior management, with little input from
other employees.
The budgets that roll up into the master budget include:
 ● Direct labor budget
● Direct materials budget
● Ending finished goods budget
● Manufacturing overhead budget
● Production budget
● Sales budget
● Selling and administrative expense budget

The selling and administrative expense budget may be further subdivided

into budgets for individual departments, such as the accounting,
engineering, facilities, and marketing departments.
Once the master budget has been finalized, the accounting staff may enter
it into the company's accounting software, so that the software can issue
financial reports comparing budgeted and actual results.
Smaller organizations usually construct their master budgets using
electronic spreadsheets. However, spreadsheets may contain formula
errors, and also have a difficult time constructing a budgeted balance
sheet. Larger organizations use budget-specific software, which does not
have these two problems.

Question 6
An Accounting Information System (AIS) is a structure that an agency
or business uses to collect, aggregate, manage, store, process, retrieve, and
report its financial-accounting data. Accounting information systems can
be used by accountants, consultants, business analysts, management, chief
financial officers (CFOs), auditors, or managers. and tax authorities.

Our accountants are highly trained to work with AIS, ensuring the highest
accuracy rates in your financial transactions and financial records, and
ensuring financial data is always available. ready for use while keeping the
original data intact.
To ensure the accuracy and reliability of the information system in general
and the accounting information system in particular, enterprises need to
focus on implementing the following measures:

Protect the accounting information system from illegal access: Illegally

penetrating the computers of accountants and servers containing
accounting software and data can cause many risks. for Business.
Therefore, protecting the enterprise's data system from unauthorized
access is the first measure that should be prioritized for deployment.

Monitoring system access activities: In addition to preventing illegal

access, enterprises must also monitor and monitor all access activities to
the accounting information system. Accordingly, enterprises can use
access logs, which will usually be part of a secure operating system
module, to monitor and control login time, type of access request, access
code, and data. access.

Protect against unauthorized physical intrusion of processing devices:

In order to minimize the risk of losing computer equipment, or disclosing
or destroying information, strictly control access to materials. management
of the enterprise's computer system is extremely necessary.

Use advanced technologies to prevent data destruction: In fact, the risk

of data insecurity is quite closely related to the theft or alteration of data
by using technology techniques. Therefore, to ensure the security of the
accounting data system, enterprises also need to use corresponding
technologies to prevent data destruction.

Ensure security for accounting data storage: Measures to ensure

security for accounting data storage include: storage devices such as
floppy disks, hard disks, compressed disks, disks CD, USB or magnetic
tape, backup data.

Ensure security for data transmission: Enterprises need to closely

monitor computer networks to detect security weaknesses early, thereby
enhancing maintenance and data backup activities. materials… in order to
reduce risks and hazards.

Plans to recover and rebuild lost data: Enterprises need to have a plan to
prevent and recover data by performing data backup. For particularly
important data, it should be stored in a safe place, out of the business
premises as possible. At the same time, businesses need to install
application software that allows the fastest recovery of lost data.