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 analyse data from international markets.
It applies to individuals who possess a sound theoretical knowledge base in international business management and who have a range of managerial skills to ensure business activities are conducted effectively.
In this role, individuals specifically interpret international market trends, monitor competition and report on market data. Typically, they work as supervisors and lead teams in conducting international business activities.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Business Development – Marketing
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. Interpret trends and market developments |
1.1 Use statistical analysis of Australian and international market data to interpret international market trends and developments 1.2 Analyse trends and developments within Australia and relevant international settings for their potential impact on international business activity within target market 1.3 Identify aspects of culture that may impact international business activity within target market 1.4 Use measures of central tendency/dispersion and correlations between sets of data for quantitative interpretation of comparative international market data 1.5 Perform qualitative analysis of comparative international market information as a basis for reviewing business performance in international settings |
2. Interpret competitor market performance |
2.1 Analyse international market performance of existing and potential competitors and their products or services to identify potential opportunities or threats 2.2 Compare international business performance to that of competitors to identify market position |
3. Report market data |
3.1 Prepare, plot and interpret data for visual presentation 3.2 Assess visual presentation for potential problems and take corrective action if necessary 3.3 Ensure report meets organisational requirements for content, format and level of detail 3.4 Submit report within the required timeframe |
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 |
1.1-1.5, 2.1, 2.2, 3.1-3.3 |
|
Writing |
3.1, 3.3 |
|
Oral Communication |
1.3 |
|
Numeracy |
1.1, 1.4, 1.5 |
|
Navigate the world of work |
3.3 |
|
Interact with others |
3.4 |
|
Get the work done |
1.1-1.3, 2.1, 2.2, 3.1, 3.2 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
BSBMKG511 Analyse data from international markets |
BSBMKG511A Analyse data from international markets |
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