Packaging of Competency Standards for Vocational Qualifications BSCB4007 TTNVQ LEVEL 4 – BROKER SERVICES Unit Code
Unit Title
Mandatory/ Elective
BS00519
Analyse Data from International Markets
Mandatory
BS00552
Apply Knowledge of Insurance to Complete Work Requirements
Mandatory
BS00553
Build International Business Networks
Mandatory
BS00554
Follow Principles of Occupational Health and Safety (OH&S) in the Work Environment
Mandatory
BS00555
Identify Business Opportunities
Mandatory
BS00556
Profile International Markets
Mandatory
BS00557
Research International Markets
Mandatory
BS00558
Analyse Consumer Behaviour for Specific International Markets
Elective
BS00559
Forecast International Market and Business Needs
Elective
BS00560
Report on Finances Related to International Business
Elective
To achieve this qualification all mandatory units and a minimum of one (1) elective must be achieved
BS00519
Analyze Data from International Markets
BS00519:
Analyse Data from International Markets
Unit Descriptor:
ELEMENTS
This unit deals with the skills and knowledge required to interpret international trends and market developments, to interpret competitor market performance and report on market data.
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
3
Interpret trends and market developments
Interpret competitor market performance
Report on market data
1.1
Use statistical analysis of the country and international market data to interpret international market trends and developments
1.2
Analyse trends and developments within the country and relevant international settings for their potential impact on international business activity within the target market
1.3
Identify aspects of culture that may have an impact on international business activity within the target market
1.4
Perform qualitative analysis of comparative international market information as a basis for reviewing business performance in accordance with workplace procedures
2.1
Analyse and identify international market performance of existing and potential competitors and their products/ services for potential opportunities or threats
2.2
Compare international business performance against competitors to identify market position
3.1
Prepare, plot and interpret data for visual presentation settings in accordance with workplace procedures
3.2
Check visual presentation for potential problems, and take corrective action if necessary in accordance with workplace procedures
3.3
Verify reports meet organisational requirements in accordance with workplace procedures
3.4
Submit report within required timeframe in accordance with workplace procedures
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BS00519
Analyze Data from International Markets
RANGE STATEMENT Legislation, codes and national standards relevant to the workplace include: award, enterprise agreements and relevant industrial instruments relevant legislation from all levels of government that affects business operation, especially in regard to occupational health and safety (OSH) and environmental issues, equal opportunity, industrial relations and anti discrimination relevant industry codes of practice
Trends and development include: political events(wars, internal conflicts, forthcoming elections) economic trends(local, regional, national, international) ecological/environmental trends government activities e.g. interest rates, deregulation social and cultural factors demographic trends changes in technology industrial trends
Organisational requirements include: content format level of detail
Statistical analysis include: sampling measures of central tendency measures of dispersion nature and degree of relationship between variables time series analysis normal distribution probability curve
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know:
1. how to acquire data for analysis 2. how to prepare a draft report of data filing 3. what are some of the measures used in statistical analysis 4. what are the international events that may have an impact on international business activity
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BS00519
Analyze Data from International Markets
EVIDENCE GUIDE (1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: relate to people from a range of social, cultural and ethnic backgrounds, and physical and mental abilities evaluate and assess skills analyse data using techniques relevant to market data including statistical analysis techniques
(2)
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required.
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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BS00552
Apply Knowledge of Insurance to Complete Work Requirement
BS00552: Unit Descriptor:
Apply Knowledge of Insurance to Complete Work Requirements This unit covers the skills and knowledge required to apply knowledge of international finance and insurance to complete work requirements
ELEMENTS
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
3
Maintain currency of knowledge of insurance
Identify and access available information to meet work requirements
Interpret and analyse available information
1.1
Assess personal knowledge and skills against needs and available standards to determine currency and adequacy of own skills and knowledge
1.2
Identify the various insurance types available and their application for international trade
1.3
Identify skills and knowledge gaps of the relevant insurance coverage
2.1
Determine specific needs for information and access resources to obtain the information
2.2
Check the information accessed from available resources against specific needs in accordance with workplace procedures
2.4
Verify if required further information from external resources in accordance with workplace procedures
3.1
Collect and collate available information for analysis in accordance with workplace procedures
3.2
Interpret, analyse and process available information in accordance with workplace procedures
3.3
Seek assistance if required, to interpret, analyse and synthesise required informationin accordance with workplace procedures
3.4
Check output of analysis processes against required information and specific needs
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BS00552
Apply Knowledge of Insurance to Complete Work Requirement
4
Apply knowledge to specific trading operations
3.5
Conduct further research and analysis to meet specific needs if necessaryin accordance with workplace procedures
4.1
Use outcomes of research and analysis to facilitate trading operations in accordance with relevant legislation, trade conventions and agreements
4.2
Complete documentation in accordance with the relevant information provided and workplace requirements
4.3
Check documentation for accuracy and correctness by self and manager/ supervisor as required
RANGE STATEMENT External resources include: internet, government agencies or through relevant third parties
Relevant information provided includes:
Accuracy and correctness include: accuracy of calculations required format correct spelling, grammar and syntax veracity of information supplied
Available standards include: enterprise standards competency standards industry standards specific training courses related to international trade
Relevant information provided includes:
Enterprise resources include: government publications enterprise knowledge management system enterprise library or filing system other personnel in the enterprise
enterprise standards instructions supplied with document/ form directions obtained from originator of form or document
Legislation, codes and national standards relevant to the workplace include: award and enterprise agreements and relevant industrial instruments relevant legislation from all levels of government that affects business operation, especially in regard to
enterprise standards instructions supplied with document/ form directions obtained from originator of form or document
Documentation includes: forms such as insurance claims or applications for policies, banking forms, internal requirements financial calculations related to taxation, fees, quotations
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BS00552
Apply Knowledge of Insurance to Complete Work Requirement
occupational health and safety (OHS) and environmental issues, equal opportunity, industrial relations and anti-discrimination relevant industry codes of practice
Development options include: formal training courses mentoring/coaching arrangements reading programs industry-based seminars information sessions hosted by government departments, industry associations
permit applications with regulatory authorities letters, memos, reports, other internal documents
Originator of documentation include: internal sources within organisation external sources including bank or financial institution, insurance broker or agency, regulatory authority
Relevant third parties include: specialist external consultants external libraries information ‘hotlines’ and ‘help desks’ International Chamber of Commerce
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know: 1. what are the legislation, codes of practice and national standards relevant to the work role, for example:Customs and Excise laws 2. how to obtain insurance for a product the company is importing 3.
who are the insurance brokers and types of policies relevant to trading operations
4. how the current political events related to countries impact on an organisation’s trading operation 5. how treaties, conventions and other agreements impact on trade 6. how is insurance affected by banks’ financing 7. how to locate information for the insurance needs of the organisation 8. what is the basis for arriving at the type of insurance used 9. why it is important to have written and verbal communication skills 10. why it is important to have problem solving skills
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BS00552
Apply Knowledge of Insurance to Complete Work Requirement
EVIDENCE GUIDE (1) Critical Aspects of Evidence
Evidence should include a demonstrated ability to: source the relevant information to effectively complete the task
identify and rectify variations in product quality
follow recording and reporting procedures for non-conformance
monitor production and identify output variables
perform allowable adjustments to maintain quality standards
interpret and apply relevant information
maintain workplace records in relation to production quality and variation
use relevant tools and equipment
establish effective working relationships with colleagues
identify and adapt workplace objectives, cultures, products, customers and services to achieve job specifications
(2)
identify product, materials and work processes appropriate for the production process
Method of Assessment Assessors should gather a range of evidence that is valid, sufficient, current and authentic. Evidence can be gathered through a variety of ways including direct observation, supervisor’s reports, project work, samples and questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit of competency. The candidate must have access to all tools, equipment, materials and documentation required. The candidate must be permitted to refer to any relevant workplace procedures, product and manufacturing specifications, codes, standards, manuals and reference materials.
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BS00552
Apply Knowledge of Insurance to Complete Work Requirement
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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Build International Business Networks
BS00553
BS00553:
Build International Business Networks
Unit Descriptor:
This unit covers the skills and knowledge required to set up, maintain and review own participation in international business networks to benefit the business and its clients in a culturally appropriate way
ELEMENTS
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
3
Develop and maintain appropriate international business networks
Reflect social and cultural awareness in developing and maintaining international business networks
Review own participation in international business networks
1.1
Identify opportunities to build international business networks and allocate time to maintain them
1.2
Establish and maintain a network of support for business in accordance with workplace procedures
1.3
Identify and maximised opportunities to make face to face contact with overseas business associates and network members in accordance with workplace procedures
1.4
Establish communication channels to exchange information and ideas with international business network members in accordance with workplace procedures
2.1
Identify and analyse sources of information relating to social and cultural awareness for specific cultural groups within current and prospective network membership
2.2
Use communication styles and social mores appropriate to specific cultural groups within the network in accordance with workplace polices
2.3
Review on a regular basis the quality of communication and relationships with network members to determine effectiveness of communication styles and interaction
3.1
Estimate and document cost of one’s own participation in international business networks in accordance with workplace procedures
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Build International Business Networks
BS00553 3.2
Quantify and document the value of outcomes derived from participation in international business networks in accordance with workplace procedures
3.3
Analyse the value of outcomes derived from participation in international business networks and compare to costs of participation in accordance with workplace procedures
3.4
Make and implement decisions to increase, maintain or decrease participation in networking activity as a result of the review process in accordance with workplace procedures
RANGE STATEMENT Opportunities to build international business networks include: conferences trade fairs product launches key events such as (overseas, international and national celebrations receptions by overseas government bodies in Trinidad and overseas(e.g. overseas trade delegations, embassies, consulates, trade attaches) professional development activities industry or business association functions and events company sponsored travel overseas
Professional development activities include industry information seminars/conferences industry training(formal and informal) trade shows/fairs government agency workshops, functions and events demonstrations technical information briefings pre –launch activities
Network includes: formal or informal personal or business government sponsored networks through state/territory government agencies professional or trade networks individuals, groups or organisations
Sources of information include: advice provided by government agencies, chambers of commerce trade and business publications staff within own organisation from same cultural group as international clients academic publications and personnel
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Build International Business Networks
BS00553
Quantified includes : require estimations and approximations be based on future gains not yet realised involve projections based on trends
Business association include: professional associations industry bodies government sponsored groups
Social and cultural awareness include: aspects of culture and society unique to other countries and differing from Trinidad and Tobago culture and society
Quality of communication and relationships may be measured and reviewed includes: responses of network members confidence gained and given by network members business outcomes from relationship cultivated with network members
Information and ideas include: information on competitors’ activities changing customer requirements changes in the environment trends and movements having an impact on international business activity opportunities for new international business activity personal, professional or for business support
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know: 1. what are the sources of information related to cultural groups 2. what are the sources of information related to support for international business activity 3. what are the current international business networks
EVIDENCE GUIDE (1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: to relate to people from a range of social cultural and ethnic backgrounds, and physical and mental abilities
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Build International Business Networks
BS00553
(2)
display empathy and cultural sensitivity
communicate in a cross cultural context
collect ,analyse and organise information
plan and organise activities
communicate using written and verbal communication skills in a cross cultural context
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required. The candidate must be permitted to refer to any relevant workplace procedures, manufacturer’s specifications, codes, standards, manuals and reference materials
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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BS00554
Follow Principles of Occupational Health and Safety (OH & S) In the Work Environment
BS00554: Unit Descriptor:
Follow Principles of Occupational Health and Safety (OH&S) in the Work Environment This unit deals with the skills and knowledge required to perform work activities to conform to occupational health and safety requirements and applies to all individuals working in the Customs Brokerage Industry
ELEMENTS
PERFORMANCE CRITERIA
Candidates must be able to: 1
Follow safe work practices
1.1
Carry out work safely and in accordance with company policies, procedures and legislative requirements
1.2
Carry out housekeeping in accordance with company procedures
1.3
Demonstrate understanding of one’s own responsibilities and duties as an employee in one’s ownday to day actions
1.4
Identify and follow all safety signs and symbols in accordance with company safety policies
2
Report workplace hazards
2.1
Identify workplace hazards during the course of work and report to appropriate person in accordance with standard operating procedures
3
Follow emergency procedures
3.1
Identify the different methods of contacting the appropriate personnel and emergency services in the event of an accident
3.2
Carry out emergency and evacuation procedures when required in accordance with the company’s health and safety procedures and policies
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BS00554
Follow Principles of Occupational Health and Safety (OH & S) In the Work Environment
RANGE STATEMENT Emergency procedures include : evacuation procedures fire fighting medical and first aid
Safety responsibilities include: personal protection safe interactive work practices(duty of care) occupational health and safety (OHS) regulations factory act
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know: 1. what are the company’s emergency and evacuation procedures 2. how to report workplace hazards 3. what are the different methods for contacting person in the event of an emergency
EVIDENCE GUIDE (1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: comply with occupational health and safety regulations applicable to workplace operations
apply organisational policies and procedures including quality assurance requirements where applicable
(2)
carry out appropriate applications in accordance with regulatory and legislative requirements
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond
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BS00554
Follow Principles of Occupational Health and Safety (OH & S) In the Work Environment
those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required. The candidate must be permitted to refer to any relevant workplace procedures, manufacturer’s specifications, codes, standards, manuals and reference materials
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or teams.
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BS00555
Identify Business Opportunities
BS00555:
Identify Business Opportunities
Unit Descriptor:
This unit deals with the skills and knowledge required to ascertain the opportunities available and the feasibility of a particular international business opportunity
ELEMENTS
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
Identify international business opportunities
Identify business skills
1.1
Investigate and identify potential business opportunities for the organisation
1.2
Conduct feasibility studies to determine business viability in accordance with workplace procedures
1.3
Identify specialist services and sources of advice when necessary in accordance with workplace procedures
2.1
Identify and take into account financial and business skills available for potential business partnership
2.2
Assess technical competencies required to take up identified business opportunities in accordance with workplace procedures and business needs
2.3
Assess and match personal skills/attributes against those perceived as necessary for a particular business opportunity in accordance with workplace procedures
2.4
Assess and identify business risks according to resources available and document in accordance with workplace procedures
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BS00555
Identify Business Opportunities
RANGE STATEMENT Business opportunities include: expected financial viability skills of operator amount and types of finance available returns expected or required by owners likely return on investment finance required consideration of applications and costing for trademarks, patents and standards accreditation an understanding of legal, cultural and other factors unique to the country of business
Business viability include: opportunities available market competition timing/cyclical considerations skills available resources available location and/or premises available cost of modifying products and services to meet market requirements risk related to a particular business opportunity, especially in regard to occupational health and safety and environmental considerations
Business risks include: credit/payment risk of exporter not being paid or importer facing additional and unexpected costs associated with one or more of the following risks: - commercial risk –buyer insolvency - transfer risk –exchange - control/trade control - transport risk –loss of or damage to goods - finance risk – sufficiency of funding - exchange risk – exchange rate fluctuations - bank risk –financial standing of institutions involved in transactions - country risk – war/civil - unrest/political decisions/economy - performance risk – exporter/importer ability to deliver
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BS00555
Identify Business Opportunities
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know: 1. what are the relevant local, regional and international legislation 2. what are cultural aspects relevant to target markets 3. what are the principles of risk management relevant to business opportunities 4. how to relate to people from a range of social, cultural and ethnic backgrounds and physical and mental abilities
EVIDENCE GUIDE (1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: follow work instructions and performs tasks in accordance with the quality requirements
identify and rectify variations in product quality
follow recording and reporting procedures for non conformance
monitor production and identifies production variables
perform allowable adjustments to maintain quality standards
interpret and apply relevant information
establish effective working relationship with colleagues
identify and adapts workplace objectives cultures,products,customers and services to achieve job specifications
(2)
identify product, materials and work processes appropriate for production process
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required. The candidate must be permitted to refer to any relevant
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BS00555
Identify Business Opportunities
workplace procedures, manufacturer’s specifications, codes, standards, manuals and reference material
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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BS00556
Profile International Markets
BS00556:
Profile International Markets
Unit Descriptor:
This unit deals with the skills and knowledge required for the selection and confirmation of appropriate international market(s) including identifying the target market, profiling the target audience and developing a positioning strategy.
ELEMENTS
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
Select potential international markets for further investigation
Identify the target market
1.1
Confirm readiness to market products or services internationally
1.2
List potential international markets for further investigation
1.3
Identify information sources to inform process for selection of international markets
1.4
Determine and document criteria to access suitability of international markets for product or service in accordance with workplace procedures
1.5
Access information sources to determine suitability of international markets for product or service to be marketed in accordance with workplace procedures
1.6
Select international markets for profiling in accordance with workplace guidelines
2.1
Evaluate and select approaches to determine and describe the total market within selected countries for a product or service in accordance with workplace procedures
2.2
Define the target market for a product or service in accordance with the identified users/consumers ,selected market segment/s and cultural appropriateness of the service/product
2.3
Identify the available marketing strategic options and select the targeting strategy that best meets the requirements of the marketing plan
2.4
Check using available information sources, cultural appropriateness of chosen targeting strategy
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BS00556
Profile International Markets
3
Profile the target audience
3.1 3.2
4
Develop a positioning strategy
4.1
Identify the consumer characteristics in standard statistical terms the descriptive terms used in media selection Prepare the consumer profile in accordance with organisational requirements Identify available positioning strategies and select a strategy to meet marketing requirements in accordance with organisational requirements
4.2
Check cultural appropriateness of the chosen positioning strategies using available information sources
4.3
Write a positioning implementation plan in accordance with organisational requirements
RANGE STATEMENT Readiness may relate to: production capacity and ability to expand capacity as required links to and networks within international markets knowledge of international laws, conventions and culture economic conditions within potential international markets available financial resources of own organisation existing competitors international standards for product or service research capability organisation’s experience and capability to market internationally
Information sources include: advice from colleagues who are residents or former residents of chosen countries, senior colleagues, technical experts, professional advisors, industry associations, chambers of commerce, other private agencies specialising in international trade, academics, training providers government agencies and government departments reference material(paper based and via internet) within organisation, professional libraries, trade journals
Criteria include: existing competitors operating within selected country/countries history of product or service provision within selected countries economic considerations including economic wealth within selected countries and anticipated cost to provide service or product
Targeting strategy include: price sensitivity sales volume market share purchasing power ease of entry growth considerations differentiation and segmentation
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BS00556
Profile International Markets
trades route and modes of transport available to destination countries capabilities, interests and preferences of own organisation relevant international regulations and taxes/duties the product or service would attract
Statistical terms are: age and sex education marital status occupation nationality first language children income geographic location within country Psychographic descriptions refer to: activities interest opinions values and attitudes lifestyle Positioning strategies include: image perceptions prestige and exclusive positioning conspicuous positioning service positioning value positioning market leader positions market follower positions me too positioning repositioning competitive positioning
niche markets concentrated, differentiated and mass strategies
Approaches include: identifying consumers with relevant needs identifying current users of the product or service identifying people with related characteristics Consumer may refer to: households businesses individuals government agencies
Organisational requirements include: language, format, content level of detail Marketing include: marketing of goods services marketing ideas marketing public sector marketing direct marketing telemarketing business to business marketing
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BS00556
Profile International Markets
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know: 1. what strategies to employ to successfully enter foreign markets 2. what methods to employ to identify new opportunities 3. what are the different positioning strategies to be used for identifying new markets 4. what are the relevant international and local legislation 5. how to develop a profile from available information 6. what are the different market profiling techniques
EVIDENCE GUIDE (1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: to relate to people from a range of social, cultural and ethnic backgrounds, physical and mental abilities
(2)
research and analyse information
use written communication to document profile
use internet and organisation’s intranet to access information
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required.
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BS00556
Profile International Markets
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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BS00557
Research International Markets
BS00557:
Research International Markets
Unit Descriptor:
This unit deals with the skills and knowledge to undertake market research to select markets to pursue.
ELEMENTS
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
3
Collect information about target markets
Investigate trends in target markets
Utilize data in decision making
1.1
Identify from senior personnel target markets for international market research
1.2
Confirm information requirements for market research with senior personnel
1.3
Seek assistance as required with sourcing and accessing required information
2.1
Collate required information from information sources in accordance with workplace procedures
2.2
Apply statistical analysis tools to identify trends in accordance with workplace procedures
2.3
Seek assistance as required with analysing required information
2.4
Investigate casual influences on target markets
2.5
Document and report identified trends and casual influences to relevant personnel within the organisation in accordance with workplace procedures
3.1
Make decisions based on available data and in accordance with one’s own line of authority
3.2
Check consistency of decision making against data and document a rationale for decision making in relation to markets to be pursued
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BS00557
Research International Markets
RANGE STATEMENT Target markets include: a specific country or countries geographic region(s) within specific country or countries specific sub –groups within selected areas combinations of above Sources include: departments and agencies, chambers of commerce trade and business publications academic publications and personnel
Information requirements include: economic and sock-economic data size of market segments competitors demand and unmet demand cultural and social influences of consumers demographic data tariff and non tariff barriers balance of payments data regulations on foreign investment
Trends include: buying patterns seasonal variations changes in demand and unmet demand imports versus local sales demographics of decision maker/purchaser
Sources include: departments and agencies, chambers of commerce trade and business publications academic publications and personnel
Statistical analysis includes: sampling measures of central tendency measures of dispersion nature and degree of relationship between variables time series analysis normal distribution probability curve
Assistance includes: manager and colleagues within the organisation departments and agencies, chambers of commerce industry or trade associations, other private organisations, consultants
Casual influences include: current availability of products or services consumer awareness economic or socio-economic factors perceptions of potential consumers local alternatives to product or service cultural considerations related to values and beliefs
Relevant personnel includes: manager or supervisor CEO of organisation, board of directors marketing manager client for market research
Decision making includes: markets selected for more in depth research market entry strategy to be adopted markets to be pursue
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BS00557
Research International Markets
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know: 1. what are the site regulations and procedures that refer to personal safety and safety of others 2. how to collect information about target markets 3. what are the different statistical analysis tools
EVIDENCE GUIDE (1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: to identify trends in the target market that can inform decision making within the organisation collate and analyse information document trends identified and relevant influences to validate trends
(2)
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required. The candidate must be permitted to refer to any relevant workplace procedures, manufacturer’s specifications, codes, standards, manuals and reference materials
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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BS00558
Analyse Consumer Behaviour for Specific International Markets
BS00558:
Analyse Consumer Behaviour for Specific International Markets
Unit Descriptor:
This unit covers the skills and knowledge required to analyse consumer behaviour for specific international markets.
ELEMENTS
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
Confirm the target market
Assess current level of consumer interest
1.1
Identify in accordance with the marketing plan the market or market segment for a service
1.2
Identify within the target market aspects of culture that may have an impact on international marketing of service
1.3
Identify from the market profile consumer attributes for the market or market segment
1.4
Identify in accordance with the marketing plan features of the service
2.1
Investigate through analysis of trends and past performance of services both within Trinidad and Tobago and relevant international settings consumer need for the service
2.2
Review past marketing plans, strategies and campaigns or positioning of services for effectiveness of its focus of appeal both locally and internationally
2.3
Check and indentify individual social and cultural influences on consumer behaviour and estimate their impact for the service
2.4
determine lifestyle influences on consumer behaviour and estimate their impact for a service
2.5
Check in relation to the service organisational behaviour in accordance with the marketing plan
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BS00558
Analyse Consumer Behaviour for Specific International Markets
RANGE STATEMENT
Aspects of culture include: religion family structures and usual purchasers and decision makers in families attitude of overseas countries to Trinidad and Tobago degree of fiscal conservatism or liberalism within culture values and beliefs
Marketing includes : marketing of goods service marketing ideas marketing public sector marketing direct marketing telemarketing E business or business to business marketing
Individual influences include: personality self image perception learning beliefs attitudes past experiences values
Social and cultural influences include: culture socio-economic factors family background family decision makers/s social class
Lifestyle influences include: leisure activities interests aspirations
Legal and ethical obligations include: legislation regulations codes of practice ethical principles policies and guidelines society’s expectations cultural expectations and influences social responsibilities e.g protection of children, environmental issues Trinidad and Tobago international and local context of legal and ethical obligations
Organisational behaviour includes: group decision making new purchases or re-purchase contract buying
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BS00558
Analyse Consumer Behaviour for Specific International Markets
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know:
1. what are the reasons for choosing a particular market 2. what are the issues that influence your marketing plans 3. what role does culture play in the market analysis 4. what are market analysis techniques
EVIDENCE GUIDE (1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: develop and document marketing strategies for selected international markets in line with marketing plan and market profiles
relate to people from a range of social, cultural and ethnic backgrounds, and physical and mental abilities.
(2)
research and gather information
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required. The candidate must be permitted to refer to any relevant workplace procedures, manufacturer’s specifications, codes, standards, manuals and reference materials
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BS00558
Analyse Consumer Behaviour for Specific International Markets
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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BS00559
Forecast International Market and Business Needs
BS00559:
Forecast International Market and Business Needs
Unit Descriptor:
ELEMENTS
This unit specifies the skills and the knowledge required to gather intelligence about the target international market and use that information in the business.
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
Collect market intelligence
Review current business performance and capability
1.1
Gather and document market intelligence through networking activities and participation in relevant activities
1.2
Identify and access further sources of market intelligence
1.3
Evaluate and assess commercial services providing market intelligence for value for money and quality as required
1.4
Collate and analyse market intelligence for relevance and applicability to the organisation’s international business activity in accordance with workplace procedures
1.5
Undertake an evaluation of the marketing performance in accordance with workplace procedures
2.1
Confirm core activities, customer base, business values and current business direction
2.2
Identify current international marketing performance and the effectiveness of past international marketing or positioning
2.3
Review performance data from all areas of the business to identify strengths, weaknesses and critical success factors relevant to international business activity
2.4
Identify and assess current capabilities and resources for improvement or exploitation within international markets
2.5 Identify underperforming products/services within international markets for re-development or withdrawal
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BS00559
Forecast International Market and Business Needs
3
4
Evaluate the specific market
Document how business can meet current and emerging needs of the target market
2.6
Analyse international market performance of existing and potential competitors and their products or services to identify potential opportunities or threats within international business markets
2.7
Confirm the strength and current competitive position of the business within international markets
3.1
Identify the trends and developments that are having an impact on international business activity and analyse for their potential impact on the business
3.2
Identify the trends and developments that are having an impact on international business activity and analyse for their potential impact on the business
3.3
Gather and analyse as a basis for reviewing business performance comparative international market information
3.4
Identify and tap sources of intelligence for advance warning of new product, services,technology or new international markets for the business
3.5
Identify and analyse the legal, ethical and environmental constraints of the international market for their effect on international business activity
4.1
Identify, analyse and document poor or under servicing of existing international market needs by the organisation and and/or its competitors
4.2
Consider the advantages and disadvantages of forecasting techniques in relation to the required outcome and select in accordance with organisational requirements
4.3
Forecast and justify emerging international market needs in terms of available information
4.4
Identify the needs of the business in terms of changes required to improve performance or address an international market opportunity
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BS00559
Forecast International Market and Business Needs
RANGE STATEMENT Marketing may include: marketing of goods services marketing ideas marketing public sector marketing direct marketing telemarketing E-business/business to business marketing
Sources may include: commercial sources of market intelligence provided by specialist and consultants information from government agencies or chambers of commerce new networking opportunities peers databases, internet, official statistics business advisory services professional/trade associations and publications financial institutions
Evaluation may include: product portfolio analysis comparative analysis competitive analysis life cycle models strengths-weakness–opportunities –threats (SWOT) analysis value chain analysis
Forecasting technique include: top down forecasting bottom up forecasting projection model building surveys of intentions delphi techniques scenario planning
Areas of business may include: marketing finance production personnel overseas representative or branches of the organisation
Capabilities and resources may include: Situational factors such as: 1. location 2. transport distribution channels 3. 24 hr operation 4. communications 5. level of technology 6. age and life of business equipment 7. industrial relations climate 8. competence of staff relative to business needs 9. capacity of equipment relative to current output 10. human and financial resources Intangibles such as: 1. service 2. brand
Comparative international market information may includes: best practice information international benchmarking benchmarking against international best practices inter-firm comparison data
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BS00559
Forecast International Market and Business Needs
Relevant activities include: trade fairs, conferences professional development activities
3. 4. 5. 6. 7.
image style perceived quality or value social acceptability ‘feel good’ factor
Performance data may include: share, penetration, coverage sales, profitability, production time and cost faults, warranties. accidents and complaints Trends and developments may include: political events(wars, internal conflict, forthcoming elections) economic trends (local, regional, national and international) ecological/environmental trends government activities e.g. interest rates, deregulation social and cultural factors demographic trends changes in technology industrial trends
Opportunities may include: potential for greater penetration of existing markets with existing products or services new services for existing markets new services for international settings or within other regions of existing international settings extending, expanding or otherwise changing an existing business joint ventures co operative ventures strategic alliances consideration of application and costing for trademarks, patents and standards accreditation
Legal, ethical and environmental constraints may include: legislation regulations codes of practice ethical principles policies and guidelines society’s expectations and influences social responsibilities e.g. protection of children, environmental issues international and local context of legal and ethical obligations
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BS00559
Forecast International Market and Business Needs
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know: 1. what are the relevant Trinidad and Tobago, international and local legislation 2. what are some of the cultural, historical, political and economic international events that may be a deterrent from entering a particular market 3. what are the some of the factors to be considered in seeking to expand into emerging markets
EVIDENCE GUIDE (1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: analyse, process and document approaches and strategies for the organisation to meet current and emerging business needs of the targeted international markets
(2)
draft reports
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required. The candidate must be permitted to refer to any relevant workplace procedures, manufacturer’s specifications, codes, standards, manuals and reference materials
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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BS00560
Report on Finances Related to International Business
BS00560:
Report on finances related to international business
Unit Descriptor:
This unit deals with the skills and knowledge required to compile required financial information; identify and meet compliance requirements of relevant international, national and overseas finance regulations; analyze the financial information to frame recommendations to improve compliance and the effectiveness of international business activity.
ELEMENTS
PERFORMANCE CRITERIA
Candidates must be able to: 1
2
Compile financial information
Comply with relevant international finance regulations
1.1
Identify and separate financial information related to international business activity from domestic business activity for reporting and compliance purposes
1.2
Collect and evaluate relevant current financial data from information sources in accordance with organisational requirements
1.3
Use conversion and consolidation procedures to compile analysis in accordance with organisational requirements
1.4
Prepare asset and liability valuations, record and disclose in accordance with organisational requirements
1.5
Identify discrepancies, unusual features or queries, resolve or refer to the appropriate authority
2.1
Identify financial compliance requirements associated with international business activity for relevant international finance regulations
2.2
Process to ensure compliance with financial requirements for relevant international finance regulations in accordance with workplace policies and procedures
2.3
Record income and expenditure to ensure compliance with statutory requirements
2.4
Calculate liabilities for tax in accordance with relevant legislation
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BS00560
Report on Finances Related to International Business
2.5
2.6
Identify relevant receipts, revenue documentation and payments Submit to appropriate authorities statutory requirements within state deadlines
RANGE STATEMENT Financial data includes: budgets, forecasts and variations financial/operational statements and reports(e.g. expenditures and receipts, profit and loss statements) market valuations cash flow/profit reports International finance regulations include: international organisations and bodies regulatory authorities in overseas countries government regulatory authorities
Organisational requirement includes: quality assurances and /or procedures manuals price and exchange parameters reporting requirements legal and organisational policy/guidelines and requirements financial analysis assessments recording and filing systems standard financial analysis techniques financial management manuals occupational health and safety policies, procedures and programs
Conversion and consolidation procedures includes: spreadsheets standardised variables moving averages unit costs trend analysis
Discrepancies includes: expenditure report mismatches Incorrect payments absence of auditable trail inappropriate authorisations variances from budget and phrasings unreconciled cash flows and operating statements incorrect report formats
Information sources include: government departments and agencies trade and industry publications academics and training providers embassies, Consulates, High Commissions, government departments and agencies
Statutory requirements include: limits on volumes and types of financial transactions reporting of duty, excise and other overseas government charges reporting periods taxation and payment timings delegated authorities internal control procedures
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BS00560
Report on Finances Related to International Business
Revenue documentation include: invoices declarations bills sales proceeds cash received debit notes countertrade documentation forfeiting records records of barter other documentation involving exchange of money or goods in place of money
Benefits and allowances include: depreciation donations interest payments other allowances made to exporters by Trinidad and Tobago government other allowances made to international traders by overseas government
Deadlines include: monthly returns annual reports lodgements dates payments schedules
Recommendations include: profit and loss expenses and overheads labour costs consolidation write offs cash flow changes in business activity including markets, goods or services traded
Issues
include: profitability losses and returns cost structures suppliers and markets internal controls statutory obligations
Evidence includes: budgetary analysis forecasts and estimates returns on investments order and supplier documentation taxation and statutory returns documented costs
Format
includes: cash flow statements statutory forms financial year reports balance sheets audits operating statements spreadsheets electronic forms
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BS00560
Report on Finances Related to International Business
UNDERPINNING KNOWLEDGE & SKILLS Candidates must know:
1. what are the relevant international and local legislation 2. what are the different types of accounting and financial systems 3. what are the workplace procedures and requirements relating to compliance issues and financial reporting 4. what are the different sources of information to facilitate compliance with relevant international finance regulations 5.what are the range of products or services marketed and traded by business in international settings
EVIDENCE GUIDE
(1)
Critical Aspects of Evidence Evidence should include a demonstrated ability to: use word processor, spreadsheet and other specialised software to report
(2)
how compliance requirements were determined
identify financial compliance requirements and meet these requirements
how recommendations were framed from analysis process
Method of Assessment Assessors should gather a range of evidence, over a period of time, which is valid, sufficient and authentic. Evidence should be gathered through a variety of ways including direct observation and oral questioning. Questioning techniques should not require language, literacy and numeracy skills beyond those required in this unit competency. The candidate must have access to all tools, equipment, materials and documentation required.
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BS00560
Report on Finances Related to International Business
(3)
Context of Assessment This unit may be assessed on the job or off the job. Where assessment is done off the job, an appropriate simulation must be used where the range of conditions reflects realistic workplace situations. The competencies covered by this unit would be demonstrated by working individually or in teams.
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