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Evidence Guide: SIRXSLS005 - Plan to trade internationally

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

 

SIRXSLS005 - Plan to trade internationally

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

Research international markets.

  1. Identify international marketplaces for potential expansion based on customer sales and target market information.
  2. Identify regulatory and compliance requirements of international marketplaces.
  3. Assess logistical requirements associated with trade in international marketplaces.
  4. Research and evaluate key features of marketplaces to determine suitability and viability for business expansion.
  5. Confirm international markets for expansion based on research findings.
Identify international marketplaces for potential expansion based on customer sales and target market information.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify regulatory and compliance requirements of international marketplaces.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess logistical requirements associated with trade in international marketplaces.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Research and evaluate key features of marketplaces to determine suitability and viability for business expansion.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm international markets for expansion based on research findings.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan international expansion.

  1. Plan compliance with local laws, taxes and customs related to chosen marketplace.
  2. Identify logistics and fulfilment requirements and determine feasible solutions.
  3. Plan localised digital marketing strategies for promotional and marketing activity within chosen marketplace.
  4. Implement ecommerce platform modifications required to facilitate international trade including currency conversion and language translations.
  5. Select suitable payment solutions that facilitate international trade.
  6. Identify changes required to product packaging and pricing based on marketplace requirements.
  7. Identify potential risks and issues related to international trade and document contingency plans to prevent or minimise impact.
  8. Complete security risk analysis to determine security requirements for protection of organisational and customer information and data.
  9. Determine performance indicators for monitoring and reviewing performance in chosen market.
Plan compliance with local laws, taxes and customs related to chosen marketplace.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify logistics and fulfilment requirements and determine feasible solutions.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Plan localised digital marketing strategies for promotional and marketing activity within chosen marketplace.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement ecommerce platform modifications required to facilitate international trade including currency conversion and language translations.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select suitable payment solutions that facilitate international trade.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify changes required to product packaging and pricing based on marketplace requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential risks and issues related to international trade and document contingency plans to prevent or minimise impact.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete security risk analysis to determine security requirements for protection of organisational and customer information and data.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine performance indicators for monitoring and reviewing performance in chosen market.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENTS

PERFORMANCECRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Research international markets.

1.1. Identify international marketplaces for potential expansion based on customer sales and target market information.

1.2. Identify regulatory and compliance requirements of international marketplaces.

1.3. Assess logistical requirements associated with trade in international marketplaces.

1.4. Research and evaluate key features of marketplaces to determine suitability and viability for business expansion.

1.5. Confirm international markets for expansion based on research findings.

2. Plan international expansion.

2.1. Plan compliance with local laws, taxes and customs related to chosen marketplace.

2.2. Identify logistics and fulfilment requirements and determine feasible solutions.

2.3. Plan localised digital marketing strategies for promotional and marketing activity within chosen marketplace.

2.4. Implement ecommerce platform modifications required to facilitate international trade including currency conversion and language translations.

2.5. Select suitable payment solutions that facilitate international trade.

2.6. Identify changes required to product packaging and pricing based on marketplace requirements.

2.7. Identify potential risks and issues related to international trade and document contingency plans to prevent or minimise impact.

2.8. Complete security risk analysis to determine security requirements for protection of organisational and customer information and data.

2.9. Determine performance indicators for monitoring and reviewing performance in chosen market.

Required Skills and Knowledge

ELEMENTS

PERFORMANCECRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Research international markets.

1.1. Identify international marketplaces for potential expansion based on customer sales and target market information.

1.2. Identify regulatory and compliance requirements of international marketplaces.

1.3. Assess logistical requirements associated with trade in international marketplaces.

1.4. Research and evaluate key features of marketplaces to determine suitability and viability for business expansion.

1.5. Confirm international markets for expansion based on research findings.

2. Plan international expansion.

2.1. Plan compliance with local laws, taxes and customs related to chosen marketplace.

2.2. Identify logistics and fulfilment requirements and determine feasible solutions.

2.3. Plan localised digital marketing strategies for promotional and marketing activity within chosen marketplace.

2.4. Implement ecommerce platform modifications required to facilitate international trade including currency conversion and language translations.

2.5. Select suitable payment solutions that facilitate international trade.

2.6. Identify changes required to product packaging and pricing based on marketplace requirements.

2.7. Identify potential risks and issues related to international trade and document contingency plans to prevent or minimise impact.

2.8. Complete security risk analysis to determine security requirements for protection of organisational and customer information and data.

2.9. Determine performance indicators for monitoring and reviewing performance in chosen market.

Evidence of the ability to complete tasks outlined in elements and performance criteria of this unit in the context of the job role, and:

research one international marketplace and analyse the following information to determine suitability for expansion:

cultural and social environment

customer profile and preferences

marketplace features

competitive environment

growth potential

financial considerations:

currency and exchange rates

payment infrastructures, preferences and systems

taxes and tax laws

logistics and fulfilment considerations

legal and regulatory compliance requirements

ethical considerations

trade agreements

risks versus opportunities

customs clearance

use the above findings to document a plan for expansion into one international marketplace detailing:

platform and systems requirements:

payment

security

risks and contingency plans

marketing and promotional plans

supply chain and logistics

product and pricing adjustments

performance indicators

resourcing requirements:

internal

third party

timelines.

Demonstrated knowledge required to complete the tasks outlined in elements and performance criteria of this unit:

major international marketplaces for trade outside of Australia

key considerations when planning entry into international marketplace:

cultural and social environment

customer profile and preferences

marketplace features

competitive environment

growth potential

financial considerations:

currency and exchange rates

payment infrastructures, preferences and systems

taxes and tax laws:

sales tax

import duties

transactional taxes

hidden costs

logistics and fulfilment considerations

legal and regulatory compliance requirements

ethical considerations

trade agreements

risks versus opportunities

customs clearance

suitability of products to local customer demand

strategies for developing customer trust, reputation and credibility

primary local language

local marketing and promotional strategies

supply chain and logistics for international trade:

product tracking

third-party logistic providers

fulfilment options

associated costs

delivery timeframes

customs and quarantine

shipping tax

third-party service providers relevant to international trade

international distribution:

laws

service providers, both domestic and international

supply logistics

packaging and labelling requirements

competitive pricing strategy for international markets

techniques to analyse international marketplaces and determine viability of trading within the marketplace

common risks associated with international trade and appropriate contingency strategies

tools for monitoring sales and performance in international markets.