Title: Module Introduction: (CU5 M3) Introduction to Personal Finances
Course: SkillsCom BA 101 16.0 > Section: Credit Unit 5 Module 3

Let's turn our attention to personal finance. If you can't keep your own finances under control, how can you ever expect to keep those of a business running smoothly? In a way, you can think of being able to successfully managing your own financial situation as your first test to whether or not you have what it takes to make it in the business world. The principles are the same; find ways to maximize the amount money coming in, and make sure that the money going out is delivering the greatest return possible.

Take a look at this Video introduction to get a better idea of what we'll be looking at in this Module:

Modules Outcomes:

- Define commonly used business and economics terminology.
- Describe the functional areas of any business organization.
- Explain revenues, expenses, and how profit is derived.
- Differentiate between objectives, strategies, tactics, and operations.
- Describe the components of a business plan.
- Prepare a basic business plan.
- Explain the importance of ethics in business.