FITT International Trade Competency Framework
DRAFT
Keep the following in mind as you review the document.
Ask yourself, do you need this skill to conduct International Trade? If the answer is no, please tell us.
If it does apply, are the performance and knowledge statements: Accurate? Complete? Realistic? Meaningful? Logical in Structure?
Finally, does anything need to change, or is anything missing?
Please return the reviewed document to Calum MacDonald, cmacdonald@cthrc.ca.
This document is in a formative stage and intended for consultation purposes; it is not complete and may contain inaccuracies. The document is not intended for
general distribution.
REFERENCE NUMBER
5.2
CATEGORY
MARKET EXPANSION PLANNING
SKILL
Develop Plans
SUBSKILL
2. Develop international business plan
PURPOSE
International business plans might be thought of as road maps that set out a framework for success.
They identify goals and objectives and establish metrics against which success can be measured. The
plan outlines the specific reasons why the corporation is expected to succeed in its ventures. It defines a
direction and a purpose. A plan will establish where an organization is going and show how it proposes
to get there. It is the internal benchmark against which success and failure can be measured.
The international business plan is a document comprised of multiple strategies related to various
business functions, including communications, sales and marketing, finance, and production.
PERFORMANCE
Competent practitioners must:
P1.
P2.
P3.
Define business strategy, including:
 enterprise’s current position, e.g. position within business lifecycle, achievements to date
 current state of sector
 competitive advantage, e.g. advantage over competition, strengths and weaknesses of
competitors and their business model
 organizational growth plan, e.g. including growth timelines, milestones and goals
Define marketing strategy, including:
 product/service and how it meets the needs of the target market(s)
 price point for the product/service
 where the product/service will be sold/delivered
 how the enterprise will connect with customers within the target market(s) to create
awareness and interest
Develop an operational plan outline:
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

P4.
P5.
P6.
P7.
P8.
P9.
facility requirements, e.g. size and location, lease agreements, supplier quotations
management information systems, e.g. inventory, manage accounts, quality control,
customer tracking
 information technology (IT) requirements
Develop a human resources (HR) plan, including:
 organizational chart of all personnel needed for market entry
 job descriptions for all personnel
 critical skills requirements for each position
 an outline of training programs and requirements
 short- and long-term recruitment and retention plans
Develop enterprise communications strategy, including:
 processes for internal interaction
 processes for interactions with potential and existing customers
 processes for interactions with organizational support services, e.g. agents, distributors,
customs brokers, freight forwarders, etc.
Develop enterprise social responsibility strategy, including:
 enterprise environmental policies and initiatives
 enterprise community contribution
 relevant certifications, e.g. fair-trade certification, organic certification, Leadership in Energy
and Environmental Design (LEED) certification
Develop e-business strategy including:
 e-commerce activities, e.g. selling product or service online
 website development
 hardware and software requirements
Develop financial plans and forecasts, including:
 cash flow statements
 profit and loss forecasts
 sales forecasts
 required capital and external funding
 repayment plans for borrowing
 sources of revenue and income
Formulate a business exit strategy including:
 selected exit strategy, e.g. acquisition, sale, buy-out, reorganization, close operations
 when the exit strategy will be implemented
 succession plan, e.g. sell, close and liquidate assets
 organizational valuation process
 exit clauses
KNOWLEDGE
Competent practitioners must know:
K1.
K2.
Corporate history, goals and objectives
Characteristics and demographics of the international market
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K3.
K4.
K5.
K6.
Legal considerations and requirements unique to the target market(s)
Pricing and currency requirements for each target market
Business plan development process and key considerations
Factors and considerations that make the international trade venture unique to domestic
operations
VARIABLES, RANGE OF CONTEXT
Competent practitioners may need to work with the following variables:
V1. The complexity of the international business plan will be dependent upon the nature of the
international trade initiative as well as the organizational HR capacity to compile the document. It
is assumed that even if an enterprise does not produce a substantial written plan that strategic
planning has been conducted.
V2. In some cases, an exit strategy is included as a section within the international business plan. This
is more common in some industries, such as life sciences.
GLOSSARY
Acquisition – organization is purchased by another business or the company’s share of a joint venture is
purchased. This enables and organization to leave the market and a partnership
Buy-out – the organization purchases a partner’s share of operations or arranges for the partner to buy
out its share of operations. This enables a partnership to be ended, but does not necessarily mean the
company leaves the market
Close operations - the organization can cease operations or end a partnership completely
International business plan – differs from a domestic business plan in that it serves as the
communications vehicle for an organization’s international operations. Components of the international
business plan that differ from the domestic business plan include a focus on international customers,
international pricing and currency issues and international market legal considerations
Re-organization - the partnership can be restructured and reorganised. One or more partners can leave
the partnership, or new partners can join
Sale – individuals purchase the organization or the organization’s share of a joint venture. This enables
and organization to leave the market and a partnership
CITED SOURCES
1. Canada Business Network. Writing your Business Plan.
(http://www.canadabusiness.ca/eng/page/2753//)
2. FITT/Gilmore, eVantage. FITTSkills: Global Business Environment, 6th Edition – Chapter 14: The
International Business Plan
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