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Unit of competency details

BSBINT401 - Research international business opportunities (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBINT401B - Research international business opportunitiesUpdated to meet Standards for Training Packages 24/Mar/2015
Is superseded by BSBMKG432 - Research international markets 18/Oct/2020

Releases:
ReleaseRelease date
1 1 (this release) 25/Mar/2015

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

Qualifications that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080311 International Business  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080311 International Business  30/Jul/2015 
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Unit of competency

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Application

This unit describes the skills and knowledge required to identify available international business opportunities and assess the feasibility of a particular opportunity.

It applies to individuals who wish to investigate business opportunities outside Australia. The activity might be undertaken by an owner/manager of a business or someone with a brief to investigate such opportunities.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Unit Sector

Business Development – International Business

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 international business opportunities

1.1 Investigate and identify business opportunities

1.2 Undertake a feasibility study to determine likely business viability

1.3 Identify specialist services and sources of advice where required

2 Identify business skills

2.1 Identify and take into account financial and business skills available in the identified country or countries when researching business opportunities

2.2 Access technical competencies required to take up identified business opportunities in the specific country or countries

2.3 Assess personal skills/attributes and match these against those perceived as necessary for a particular business opportunity

2.4 Identify, assess and document business risks according to resources available

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

Skill 

Performance 

Criteria 

Description 

Reading

1.1-1.3, 2.1-2.4
  • Gathers, interprets and analyses text to identify international business opportunities

Writing

1.1-1.3, 2.1-2.4
  • Records and reports key information related to the outcomes of researching international business opportunities

Numeracy

1.1, 1.2, 2.1
  • Uses mathematical techniques to ensure accuracy of calculations of fees and charges

Get the work done

1.1-1.3, 2.1-2.4
  • Uses logically sequenced steps to plan and implement tasks required to achieve outcomes
  • Uses analytical techniques to assess skills, competencies and risks associated with opportunities

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

BSBINT401 Research international business opportunities

BSBINT401B Research international business opportunities

Updated to meet Standards for Training Packages

Equivalent unit

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release 

Comments 

Release 1

This version first released with BSB Business Services Training Package Version 1.0.

Performance Evidence

Evidence of the ability to:

  • access information from a range of internal and external sources including, where required, specialist services or advice to:
  • identify international opportunities relevant to the organisation’s goals, capabilities and capacity in terms of skills and human resources, finances and investment, expected returns, relationship with or knowledge of other countries
  • evaluate the viability of the opportunities in terms of business risks, finances, physical resources, market competition, human resources and skills, timing considerations and relevant legislation, regulations standards and codes of practice
  • document outcomes of research.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • outline internal and external sources of information relevant to identifying and evaluating the organisation’s international business opportunities
  • outline key provisions of relevant legislation, regulations, standards and codes of practice
  • describe cultural aspects relevant to target markets
  • explain common measures that can be used to assess the viability or feasibility of business opportunities
  • explain principles of risk management relevant to the business opportunities.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the business development - international business field of work and include access to:

  • relevant workplace documentation and resources
  • case studies and, where possible, real situations.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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