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Evidence Guide: FNSILD501 - Prepare a distribution plan

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSILD501 - Prepare a distribution plan

What evidence can you provide to prove your understanding of each of the following citeria?

Determine business objectives

  1. Identify distribution aspects of corporate strategic and business plans
  2. Analyse current situation to determine opportunities in accordance with corporate plans
  3. Identify and document desired financial resource and market parameters
  4. Develop objectives through consultation with stakeholders
Identify distribution aspects of corporate strategic and business plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse current situation to determine opportunities in accordance with corporate plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and document desired financial resource and market parameters

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop objectives through consultation with stakeholders

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Define markets and needs

  1. Identify and assess potential markets within corporate strategy and philosophy, and clearly delineate market groups
  2. Ensure cost-benefit analysis results are within plan projections
Identify and assess potential markets within corporate strategy and philosophy, and clearly delineate market groups

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Ensure cost-benefit analysis results are within plan projections

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine products and services

  1. Assess likely future trends in selected markets
  2. Select a range of products or services to meet market needs and profit objectives
Assess likely future trends in selected markets

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select a range of products or services to meet market needs and profit objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify and select distribution channels

  1. Identify current distribution channels and assess their advantages and disadvantages
  2. Choose channels according to objective criteria
Identify current distribution channels and assess their advantages and disadvantages

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Choose channels according to objective criteria

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine and establish enterprise structure

  1. Evaluate suitability of current structure for proposed distribution channels against business objectives, potential markets and services to be provided
  2. Assess alternatives against business objectives, potential markets and services to be provided
Evaluate suitability of current structure for proposed distribution channels against business objectives, potential markets and services to be provided

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assess alternatives against business objectives, potential markets and services to be provided

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish performance measures

  1. Identify and document financial measures
  2. Establish timeframes, and determine and document processes to monitor performance outcomes
Identify and document financial measures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish timeframes, and determine and document processes to monitor performance outcomes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document plan

  1. Integrate plan components into agreed format
  2. Document in logical, concise and conclusive manner and obtain sign-offs from authorised personnel
Integrate plan components into agreed format

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document in logical, concise and conclusive manner and obtain sign-offs from authorised personnel

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine business objectives

1.1 Identify distribution aspects of corporate strategic and business plans

1.2 Analyse current situation to determine opportunities in accordance with corporate plans

1.3 Identify and document desired financial resource and market parameters

1.4 Develop objectives through consultation with stakeholders

2. Define markets and needs

2.1 Identify and assess potential markets within corporate strategy and philosophy, and clearly delineate market groups

2.2 Ensure cost-benefit analysis results are within plan projections

3. Determine products and services

3.1 Assess likely future trends in selected markets

3.2 Select a range of products or services to meet market needs and profit objectives

4. Identify and select distribution channels

4.1 Identify current distribution channels and assess their advantages and disadvantages

4.2 Choose channels according to objective criteria

5. Determine and establish enterprise structure

5.1 Evaluate suitability of current structure for proposed distribution channels against business objectives, potential markets and services to be provided

5.2 Assess alternatives against business objectives, potential markets and services to be provided

6. Establish performance measures

6.1 Identify and document financial measures

6.2 Establish timeframes, and determine and document processes to monitor performance outcomes

7. Document plan

7.1 Integrate plan components into agreed format

7.2 Document in logical, concise and conclusive manner and obtain sign-offs from authorised personnel

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine business objectives

1.1 Identify distribution aspects of corporate strategic and business plans

1.2 Analyse current situation to determine opportunities in accordance with corporate plans

1.3 Identify and document desired financial resource and market parameters

1.4 Develop objectives through consultation with stakeholders

2. Define markets and needs

2.1 Identify and assess potential markets within corporate strategy and philosophy, and clearly delineate market groups

2.2 Ensure cost-benefit analysis results are within plan projections

3. Determine products and services

3.1 Assess likely future trends in selected markets

3.2 Select a range of products or services to meet market needs and profit objectives

4. Identify and select distribution channels

4.1 Identify current distribution channels and assess their advantages and disadvantages

4.2 Choose channels according to objective criteria

5. Determine and establish enterprise structure

5.1 Evaluate suitability of current structure for proposed distribution channels against business objectives, potential markets and services to be provided

5.2 Assess alternatives against business objectives, potential markets and services to be provided

6. Establish performance measures

6.1 Identify and document financial measures

6.2 Establish timeframes, and determine and document processes to monitor performance outcomes

7. Document plan

7.1 Integrate plan components into agreed format

7.2 Document in logical, concise and conclusive manner and obtain sign-offs from authorised personnel

Evidence of the ability to:

conduct analysis of critical information required to develop a distribution plan including:

business objectives, products and services

markets and needs

distribution channels

performance measures

document distribution plan according to organisational requirements.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

analyse and describe key client profiles

discuss key features of distribution and marketing approaches

identify expense ratios

identify financial metrics relevant to monitoring performance of the distribution network

identify and explain human resource trends in the context of the life insurance industry

identify and describe key markets to be served

outline organisational planning processes to service the life insurance business

analyse and describe key:

sales trends

sales relating to market mix

sales relating to products

outline opportunities and strategies for maintaining and updating knowledge of available products and services.