Frans Minnaar. Blogger & YouTuber.

A SWOT analysis is a study conducted by a company to identify its strengths, weaknesses, opportunities, and threats.

SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis identifies internal strengths/weaknesses and external opportunities/threats for strategic planning, while risk analysis focuses specifically on identifying, evaluating, and mitigating potential future threats and uncertainties that could impact objectives. Together, they form a powerful framework: SWOT reveals the current landscape and strategic potential, while risk analysis dives deeper into managing the identified threats (from SWOT) and other unforeseen risks to ensure business continuity and success.

The risk assessment process is a systematic method for identifying hazards, analyzing potential harm (likelihood and severity), deciding on control measures, documenting findings, and regularly reviewing the assessment to manage and reduce risks, commonly involving 5 steps: identify hazards, decide who & how they're harmed, evaluate risks & choose controls, record significant findings, and review/update.

The Public Procurement Act (PPA), Act No. 28 of 2024, is South Africa's new overarching law to regulate government purchasing, aiming for greater transparency, fairness, and efficiency by replacing fragmented rules with a single framework, though its provisions aren't fully in force yet and will be rolled out gradually by presidential proclamation, with key areas like preferential procurement regulations being prioritized for implementation to address existing system weaknesses and promote economic development.

In strategic planning and strategic management, SWOT analysis is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project. The video clip explains the integration between the SWT analysis and Enterprise Risk Assessment.

The video clip contains an analysis of the current balance of powers in the world, and the US's response throu8gh its National Security Strategy.

"Smart" describes intelligence, quick thinking, or being well-designed/stylish, but it's also an acronym (SMART) for goal-setting: Specific, Measurable, Achievable, Relevant, Time-bound, and relates to technology like smartphones, while also referring to the Smart car brand. The word can also mean a sharp stinging pain or mental distress.

The video clip offers guidelines about the process to implement a Performance Management System in an enterprise.