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EDUCATION AND SKILLS ENHANCEMENT - Coggle Diagram

- - - - MUNICIPALITY: Municipalities play a critical role in the local government of the country.
        
        . One of the key people that are important for the successful performance of a municipality is their finance department as they are the “engine” that runs its performance.
        
        Studies and reports done by various people such as, Auditor General reveal the consequences faced by the entire municipal unit if there is behavioural incompetence, lack of skills and relevant knowledge within this department. The lack of various skills such as adequate financial recording and reporting have compromised municipalities in producing good results.
        
        According to the The State of Local Government Finances and Financial Management revealed that most financial management portfolios get secured by the respective officials. Within those posts most officials are incompetent in producing positive results as expected. these incompetence's are a result of lack of relevant skills to be implemented and adopted.
        
        References: National Treasury, Municipal IQ, MFMA, Auditor General
      - SMME; specifically focused on the Informal Sector: The importance of this sector cannot be ignored, Small Medium Micro Enterprises play a significant role in the local economic development of the country. It is estimated that the informal sector contributes 36% to the GDP of developing countries (Moos, 2018).
        
        However, this growth seems to be constrained by various challenges such as operational facilities, management and marketing skills.
        Management skills that include business practises such as accounting, administration, marketing, and planning are some of the skills needed by SMME’s. Lack of skills unavoidably serve to prevent the growth of these enterprises (Fatoki, 2016).
        
        Majority percent of the owners have received either little or no formal education and acquiring management skills through workshop training is limited (Mukwarami T. , 2017).
        
        References: Mukwarami Tengeh; Study Done at Cape Peninsula University,
      - ARTISANS AND HOME ASSISTANTS:
        Majority percent of artisans are in their field of work as a response to how the education system was not addressing their passions and needs, especially those who had limited financial resources at their disposal. Their strengths that are related to hand work was not catered for within their primary education curriculum that made them not see the benefit of continuing with “misusing” funds for school that barely exist.
        
        They experienced social pressure to rather secure jobs that will reduce the financial obligations that are faced.
        
        . However, in so doing, this group of people result in compromised skills and knowledge of running and owning the entire value chain of their preferred occupations.
        
        This is further substantiated by the interviews I conducted to the people at my disposal. They mentioned what made them end up to where they are and what could have changed their realities.
      - BANK: Part of thekey challenges experienced in this sector is lack of penetration and conversion f opportunities presented to staff for driving revenue growth.
        Factors: Lack of sales skills set, lack of skills to convince, low take-up ratio