Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit describes the performance outcomes, skills and knowledge required to determine and prepare a distribution plan. It encompasses determining business objectives, defining markets and their needs, determining products and services, identifying and selecting distribution channels, establishing performance measures and documenting the plan. This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC). |
Application of the Unit
Application of the unit |
This unit can be applied across the financial services sector and has application to those job positions which have the responsibility of taking products and services to markets. It may be applied within organisations of various sizes and across a range of customer bases. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Determine business objectives |
1.1. The distribution aspects of the corporate strategic and business plans are identified 1.2. Current situation is analysed to determine opportunities in accordance with corporate plans 1.3. Desired financial resource and market parameters are identified and documented 1.4. Objectives are developed by consultation with stakeholders |
2. Define markets and needs |
2.1. Potential markets are identified and assessed within corporate strategy and philosophy with market groups clearly delineated 2.2. Cost-benefit analysis results are within plan projections |
3. Determine products and services |
3.1. Likely future trends in selected markets are assessed 3.2. Range of products or services to meet market needs and profit objectives are selected |
4. Identify and select distribution channels |
4.1. Current distribution channels are identified and their advantages and disadvantages are assessed 4.2. Channels are chosen according to objective criteria |
5. Determine and establish enterprise structure |
5.1. Suitability of current structure for proposed distribution channels is evaluated against business objectives, potential markets and services to be provided 5.2. Alternatives are assessed against business objectives, potential markets and services to be provided |
6. Establish performance measures |
6.1. Financial measures are identified and documented 6.2. Timeframes are established and processes to monitor performance outcomes determined and documented |
7. Document the plan |
7.1. Plan components are integrated into an agreed format 7.2. Plan is documented in a logical, concise and conclusive manner with sign-offs obtained from authorised personnel |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This section describes the skills and knowledge required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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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. |
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the ability to:
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Context of and specific resources for assessment |
Assessment must ensure:
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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:
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Guidance information for assessment |
Range Statement
RANGE STATEMENT |
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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. |
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Resources may include: |
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Market includes: |
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Products or services may include: |
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Distribution channels analysis may include: |
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Financial measures may include: |
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Plan components may include: |
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Unit Sector(s)
Unit sector |
Insurance life distribution |
Competency field
Competency field |
Co-requisite units
Co-requisite units |
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