Application
This unit applies to leaders or managers who perform or oversee the business functions of an enterprise within an international business context. The unit may relate to a small to medium size enterprise or a significant business unit within a large enterprise. Business leaders and managers must be able to understand and respond to the international environment within which a business operates and the factors which affect business activity. |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA |
1. Identify and analyse impacts of international factors on the business operation and functions | 1.1. Core activities, customer base, business values and current business direction are confirmed. 1.2. Performance data from all areas of the business is reviewed to identify strengths, weaknesses and critical success factors relevant to international business activity. 1.3. Trends and developments having an impact on international business activity are identified and analysed for their potential impact on the business. 1.4. Comparative international market information is gathered and analysed as a basis for reviewing business performance. |
2. Investigate international business opportunities in the areas of investment, trade, finance and workforce development | 2.1. Market intelligence is gathered from available sources and documented. 2.2. Current capabilities and resources are identified and assessed to identify areas for improvement or exploitation within international markets. 2.3. International market performance of existing and potential competitors and their products or services is analysed to identify potential opportunities or threats within international business markets. 2.4. Legal, ethical and environmental constraints of the international market are identified and analysed for their effect on international business activity. 2.5. Current and emerging needs in international markets that link positively to the business's strengths or capabilities are identified. 2.6. The needs of the business in terms of changes required to address an international market opportunity are identified. |
3. Operate international business activities | 3.1. Available international business positioning strategies are identified and a strategy chosen to meet marketing requirements and the consumer profile, including the culture of profiled groups. 3.2. A positioning implementation plan is developed in accordance with organisational requirements. 3.3. International business options are identified and strategies for products, pricing, sourcing, logistics, promotion and distribution developed. 3.4. The international business payment, investment capital, accounting and taxation issues, options and proposed strategies are identified. 3.5. Financial compliance requirements associated with international business activity are identified for relevant international finance regulations. 3.6. Documentation requirements for export are identified and prepared. 3.7. The investment, trade, financial, taxation and workforce risks in the international business operation are identified and contingency strategies developed. 3.8. Operational plans to address the international business activity are developed or amended in accordance with organisational requirements. |
Required Skills
Required skills |
Ability to: use analytical skills to identify potential risks and opportunities, and assess market dynamics use culturally appropriate communication skills to relate to people from diverse backgrounds and people with diverse 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 listening actively demonstrate cultural sensitivity negotiate effectively use planning and organisation skills to develop and implement business strategies use problem-solving, initiative and enterprise skills to seek and develop international business opportunities use research skills to identify trends and international business opportunities manage risk use a range of tools to monitor business performance |
Required knowledge |
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 nations: legal and political forces cultural-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 |
Evidence Required
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package. | |
Overview of assessment | |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | Evidence of the following is essential: knowledge of the key concepts of international business and how to apply them within an enterprise capacity to effectively integrate international business challenges and opportunities within and across functional areas of business knowledge of key trends in international business. |
Context of and specific resources for assessment | 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, such as organisational policies and procedures, and relevant legislation. |
Method of assessment | A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit: direct questioning combined with review of portfolios of evidence and third-party workplace reports of on-the-job performance by the candidate series of workplace activities and projects developed and implemented as part of the organisation's business development and management review of applied projects and learning activities, such as reports and case studies direct observation of contextual application oral or written questioning to assess knowledge. |
Guidance information for assessment | Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example, with other units in the qualification in which this unit is packaged. |
Range Statement
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included. | |
Performance data may include: | accidents complaints coverage faults penetration production time and cost profitability sales share warranties. |
Areas of the business may include: | finance marketing overseas representatives or branches of the organisation personnel production. |
Trends and developments may include: | changes in technology demographic trends ecological/environmental trends economic trends (local, regional, national and international) government activities (e.g. interest rates and deregulation) industrial trends political events (e.g. wars, internal conflicts and forthcoming elections) social and cultural factors. |
Comparative international market information may include: | benchmarking against Australian performance best practice information inter-firm comparison data international benchmarking. |
Sources may include: | business advisory services commercial sources of market intelligence provided by specialists and consultants databases financial institutions information from Austrade and state/territory government agencies, and chambers of commerce internet new networking opportunities official statistics peers professional/trade associations and publications. |
Capabilities and resources may include: | situational factors: 24-hour operation age and life of business equipment capacity of equipment relative to current output communications competence of staff relative to business needs human and financial resources industrial relations climate level of technology location/position transport distribution channels intangibles: brand 'feel good' factor image perceived quality or value service social acceptability style. |
Opportunities may include: | consideration of applications and costings for trademarks, patents and standards accreditation cooperative ventures extending, expanding or otherwise changing an existing business franchising joint ventures new products or services for existing markets new products or services for new international settings or within other regions of existing international settings potential for greater penetration of existing markets with existing products or services strategic alliances. |
Legal, ethical and environmental constraints may include: | Australian, international and local context of legal and ethical obligations codes of practice cultural expectations and influences ethical principles legislation policies and guidelines regulations social responsibilities (e.g. protection of children and environmental issues) societal expectations. |
Positioning strategies may include: | competitive positioning conspicuous positioning image perceptions market follower positions market leader positions me-too positioning prestige and exclusive positioning repositioning service positioning value positioning. |
Marketing requirements may include: | business-to-business marketing direct marketing ideas marketing marketing of goods public sector marketing services marketing telemarketing. |
International finance regulations may include: | Australian government regulatory authorities international organisations and bodies regulatory authorities in overseas countries. |
Sectors
Unit sector |
Employability Skills
This unit contains employability skills. |
Licensing Information
Refer to Unit Descriptor