Unit of competency details
BSBMKG548 - Forecast international market and business needs (Release 1)
Summary
Usage recommendation:
Current
Releases:
| 1 1 (this release) |
19/Oct/2020 |
Companion volumes:
Unit of competency
Assessment requirements
Training packages that include this unit
Qualifications that include this unit
Skill sets that include this unit
Classifications
Classification history
| ASCED Module/Unit of Competency Field of Education Identifier | 080311 | International Business | 17/Dec/2020 | |
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Unit of competency
Modification History
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Release
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Comments
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Release 1
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This version first released with BSB Business Services Training Package Version 7.0.
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Application
This unit describes the skills and knowledge required to forecast, evaluate and draw insights from international market intelligence to promote business development.
The unit applies to individuals who with a considerable understanding of international business management and possess the managerial and supervisory skills to facilitate the effective functioning of business activities.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Technical Skills – Marketing
Elements and Performance Criteria
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ELEMENT
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PERFORMANCE CRITERIA
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Elements describe the essential outcomes.
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Performance criteria describe the performance needed to demonstrate achievement of the element.
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1. Prepare market intelligence
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1.1 Identify task objectives and target market
1.2 Apply forecasting technique to Australian and international markets and identify trends and developments
1.3 Collate and record information according to organisational objectives
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2. Evaluate information
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2.1 Identify organisational business capabilities and resources
2.2 Analyse international market information
2.3 Identify threats and opportunities for business development according to forecasting results
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3. Establish recommendations
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3.1 Identify potential organisational changes according to forecasting results
3.2 Prepare recommendations according to task requirements
3.3 Discuss recommendations with relevant personnel
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Foundation Skills
This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.
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Skill
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Description
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Numeracy
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- Analyses and interprets complex business data to track strengths and weaknesses and to forecast trends
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Reading
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- Identifies, analyses and compares complex textual information to interpret market developments and opportunities
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Writing
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- Produces complex reports forecasting market and business needs, using clear and well organised graphical and textual information
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Planning and organising
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- Develops plans and uses effective organisational skills to complete tasks with an awareness of how they may contribute to longer term operational and strategic goals
- Uses systematic and analytical decision- making processes to gather and evaluate data in complex non-routine situations
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Technology
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- Uses a range of digital applications to access and filter data, extract, organise, integrate and share relevant information
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Unit Mapping Information
Supersedes and is equivalent to BSBMKG512 Forecast international market and business needs.
Supersedes but is not equivalent to:
- BSBINT405 Apply knowledge of import and export international conventions, laws and finance
- BSBMKG511 Analyse data from international markets.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10
Assessment requirements
Modification History
|
Release
|
Comments
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|
Release 1
|
This version first released with BSB Business Services Training Package Version 7.0.
|
Performance Evidence
The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
- forecast and evaluate an international market on at least one occasion, and forecast and evaluate business needs.
In the course of the above, the candidate must:
- comply with organisational policies and procedures
- develop and discuss recommendations to improve business with relevant personnel.
Knowledge Evidence
The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
- forecasting techniques including:
- bottom-up forecasting
- delphi techniques
- model building
- projection
- scenario planning
- intention surveys
- top-down forecasting
- sources of information relevant to forecasting international market and business needs including:
- core activities, customer base, business value sand current business direction
- marketing and other business performance
- comparative market information
- changes in technology
- demographic changes
- political events
- social and cultural factors
- economic trends
- government activities and legislative changes
- industry trends
- impacts of international market performance on internal business operations
- legislative and regulatory context of organisation in relation to forecasting market and business needs
- organisational information for forecasting international market and business needs including core activities and capabilities
- software commonly used in marketing forecasting and analysis.
Assessment Conditions
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
- legislation, regulations, standards and codes related to forecasting international marketing needs
- workplace documentation and resources relevant to performance evidence.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10
