International Market and Business Forecasting
This subject describes the skills and knowledge required to gather intelligence about an international target market to inform business development. It applies to a sound theoretical knowledge base in international business management and supervisory skills to ensure business activities are conducted effectively.
Navigation links
Skills
Employability skills developed in this subject:
Accounting, Excel Skills, Attention to Detail, Data Analysis, Statistical Knowledge, Data Visualisation, Communication Skills, Problem Solving, Presentation Skills, Team Work.
Performance evidence
To complete the subject the participant has been able to demonstrate the ability to:
- Analyse information from diverse sources, including market research reports, industry publications, economic indicators, and consumer trends. Through the application of forecasting techniques, such as trend analysis, regression modelling, and scenario planning, they can identify emerging market trends and business needs on a global scale. Identify opportunities for performance improvement within the international market landscape. This involves conducting thorough assessments of market dynamics, competitor strategies, and customer preferences to pinpoint areas where the organisation can enhance its competitive position, optimise resource allocation, and drive growth. Evaluate commercial services that provide market intelligence and access to relevant market data and insights.
Knowledge evidence
To complete the subject requirements safely and effectively the individual has been able to:
- Provide insightful examples of how cultural, historical, political, and economic factors, as well as significant international events, can influence international business activity within their industry. Demonstrate an understanding of forecasting techniques and methodologies applicable to international business contexts. Outline various forecasting approaches, such as trend analysis, regression modelling, time series analysis, and qualitative forecasting methods. Demonstrate the ability to identify and outline both internal and external sources of information relevant to forecasting international market and business needs. Internal sources may include proprietary data, sales reports, customer feedback, and operational metrics.
eLearning skills
Digital and study skills applied throughout:
Computer Skills, Adaptability, Self Starter, Communication Skills, Writing Skills, Organisational Skills, Teamwork, Collaboration, Time Management, Research Skills.
Language
Medium of instruction:
English is the Medium of Instruction.
This excerpt includes information sourced from training.gov.au to complement our understanding. Most of the content is based on our interpretation of that information; please note its limited use for its intended purpose.