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Evidence Guide: FNSILD501A - Prepare a distribution plan

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSILD501A - Prepare a distribution plan

What evidence can you provide to prove your understanding of each of the following citeria?

Determine business objectives

  1. The distribution aspects of the corporate strategic and business plans are identified
  2. Current situation is analysed to determine opportunities in accordance with corporate plans
  3. Desired financial resource and market parameters are identified and documented
  4. Objectives are developed by consultation with stakeholders
The distribution aspects of the corporate strategic and business plans are identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Current situation is analysed to determine opportunities in accordance with corporate plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Desired financial resource and market parameters are identified and documented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Objectives are developed by consultation with stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Define markets and needs

  1. Potential markets are identified and assessed within corporate strategy and philosophy with market groups clearly delineated
  2. Cost-benefit analysis results are within plan projections
Potential markets are identified and assessed within corporate strategy and philosophy with market groups clearly delineated

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Cost-benefit analysis results are within plan projections

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine products and services

  1. Likely future trends in selected markets are assessed
  2. Range of products or services to meet market needs and profit objectives are selected
Likely future trends in selected markets are assessed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Range of products or services to meet market needs and profit objectives are selected

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and select distribution channels

  1. Current distribution channels are identified and their advantages and disadvantages are assessed
  2. Channels are chosen according to objective criteria
Current distribution channels are identified and their advantages and disadvantages are assessed

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Channels are chosen according to objective criteria

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine and establish enterprise structure

  1. Suitability of current structure for proposed distribution channels is evaluated against business objectives, potential markets and services to be provided
  2. Alternatives are assessed against business objectives, potential markets and services to be provided
Suitability of current structure for proposed distribution channels is evaluated against business objectives, potential markets and services to be provided

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Alternatives are assessed against business objectives, potential markets and services to be provided

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish performance measures

  1. Financial measures are identified and documented
  2. Timeframes are established and processes to monitor performance outcomes determined and documented
Financial measures are identified and documented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Timeframes are established and processes to monitor performance outcomes determined and documented

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document the plan

  1. Plan components are integrated into an agreed format
  2. Plan is documented in a logical, concise and conclusive manner with sign-offs obtained from authorised personnel
Plan components are integrated into an agreed format

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan is documented in a logical, concise and conclusive manner with sign-offs obtained from authorised personnel

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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 ability to:

maintain knowledge of available products and services

determine business objectives, products and services

define markets and needs

identify and select distribution channels

establish performance measures

document plans.

Context of and specific resources for assessment

Assessment must ensure:

competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment

access to and the use of a range of common office equipment, technology, software and consumables

access to organisation records

access to organisational policies and procedures.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:

evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency

observing processes and procedures in workplaces

verbal or written questioning on underpinning knowledge and skills

evaluating samples of work

accessing and validating third party reports

setting and reviewing workplace projects and business simulations or scenarios.

Guidance information for assessment

Required Skills and Knowledge

Required skills

well-developed communication skills to:

determine and confirm information, using questioning and active listening as required

delegating work

liaise with others, share information, listen and understand

use language and concepts appropriate to cultural differences

numeracy and IT skills to:

perform distribution planning

perform calculations related to achieving required outcomes

use computer applications (word processing, spreadsheet, database, specific purpose computer systems) to assist in achieving required outcomes

access and update records electronically

access web based information services

well-developed literacy skills to read and interpret documentation from a variety of sources and record and consolidate relevant related information

research and analysis skills for accessing and interpreting relevant information, report analysis and decision making

interpersonal skills

organisational skills, including the ability to plan and sequence work

Required knowledge

client profiles

distribution and marketing

expense ratios

human resource trends

markets to be served

planning processes

sales trends

sales/market mix

sales/production

relevant sources of advice

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.

Resources may include:

accommodation

equipment

finance

goodwill visibility

location

outstanding options

people.

Market includes:

any opportunity that is the object of a specific distribution approach.

Products or services may include:

advice on insurance

agreements with distributors

claims management

client lifetime value

compliance and regulatory matters

financial needs analysis

financial planning

general sector property or liability products

life sector products

negotiating terms with insurers/reinsurers

outsourcing options

placement of risks

premium financing

risk assessment

superannuation products

wholesaling of risks

other financial services.

Distribution channels analysis may include:

advisers

affinity groups

associations

brokers

direct response

electronic interface

existing clients

media

retail outlets

telemarketing

wholesale outlets.

Financial measures may include:

capital

cash flow

compensation arrangements

critical path

deadlines

delivery dates

expenditure

income

investment

lead times

leases

loans

milestones

service agreements

surplus

taxation and legal considerations.

Plan components may include:

analysis tools (e.g. SWOT)

formatting requirements

narrative.