Application
This unit describes the skills and knowledge required to operate businesses in increasingly international contexts. The unit brings together many functional aspects of business and operationalises them in an international business context.
This unit applies to leaders or managers who perform or oversee the international business functions of an enterprise.
The unit relates to small to medium-sized enterprises and business units within large enterprises.
Business leaders and managers must understand and respond to the international context businesses operate within and factors affecting business activity.
No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.
Elements and Performance Criteria
Element | Performance criteria |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Identify and analyse impacts of international factors on the business operation and functions | 1.1 Confirm core activities, customer base, business values and current business direction 1.2 Review performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity 1.3 Identify and analyse trends and developments trends for their potential impact on international business activity 1.4 Gather and analyse comparative international market information as a basis for reviewing business performance |
2. Investigate international business opportunities in the areas of investment, trade, finance and workforce development | 2.1 Gather and document market intelligence from available sources 2.2 Assess current capabilities to identify areas for improvement or exploitation within international markets 2.3 Analyse international market performance of existing and potential competitors and their products or services to identify potential opportunities or threats 2.4 Identify and analyse legal, ethical and environmental constraints of the international market for their effect on international business activity 2.5 Identify current and emerging needs in international markets that link positively to the business's strengths or capabilities 2.6 Identify business needs in terms of changes required to address international market opportunities |
3. Operate international business activities | 3.1 Identify available international business positioning strategies and choose a strategy to meet marketing requirements 3.2 Develop a positioning implementation plan in accordance with organisational requirements 3.3 Identify international business options and develop strategies for products, pricing, sourcing, logistics, promotion and distribution 3.4 Identify options and proposed strategies for international business payments, investment capital and accounting and taxation issues 3.5 Identify relevant international financial compliance requirements and regulations 3.6 Identify and prepare documentation requirements for export 3.7 Identify investment, trade, financial, taxation and workforce risks in the international business operation and develop contingency strategies 3.8 Develop or amend operational plans to address international business activity in accordance with organisational requirements |
Evidence of Performance
Candidates must use their knowledge of the international business context to respond to factors impacting business activity. Evidence must demonstrate the candidate's consistency of performance over time.
Candidates must demonstrate ability to:
use analytical skills to identify potential risks and opportunities, and assess market dynamics
use culturally appropriate communication skills to relate to people with diverse backgrounds and abilities
make decisions
use interpersonal skills to:
maintain appropriate relationships with colleagues
establish trust
value and be open to, the opinions of others
work as part of a team
listen actively
demonstrate cultural sensitivity
negotiate effectively
use planning and organisational skills to develop and implement business strategies
use problem-solving, initiative and administrative skills to seek and develop international business opportunities
use research skills to identify international business trends and opportunities
manage risk
use a range of tools to monitor business performance
effectively integrate international business challenges and opportunities within and across functional business areas
Evidence of Knowledge
Candidates must demonstrate specialised and integrated technical and theoretical knowledge of:
relevant legislation, codes of practice and standards that affect international business
nature and scope of international business
international trade and investment theory
international monetary system and balance of payments
foreign exchange and financial markets
national trade and investment policy
co-operation between nation’s legal and political forces
cultural diversity, interpersonal relations and human resource management
strategic management
modes of entry and strategic alliances
organisational design and control
international marketing and operations management
international finance, accounting and taxation
key concepts of international business and their application within an enterprise
key trends in international business
Assessment Conditions
Competency must be demonstrated through sustained performance over time, at an appropriate level of responsibility and under typical operating and production conditions for the enterprise.
Assessment must ensure:
access to an actual workplace or simulated environment
competence is consistently demonstrated over time, and over a range and variety of complex tasks/projects and situations
access to resources normally used in the workplace, including organisational policies and procedures, and relevant legislation
Assessors must satisfy current standards for RTOs.
Foundation Skills
Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.