Covid Business Buzz Words

Posted on 12th November 2020 by Streets -  What's trending?


Image to represent Covid Business Buzz Words

The way we work, where we work, when we work and even the type of work we do has changed for most of us, if not all. As such and as is often the case with such significant changes and circumstances, it is not untypical for new words and phrases to come to the fore as we look to be able to communicate with each other on and around the situation.

Over the last few months there have been a number of words and phrases banded about, some perhaps new words and some words and phrases that have seen increased use or used in a new context.

The following 10 words or phrases are the ones that seem to have had wider use and perhaps some of these provide a little light relief:

  1. Unprecedented – How many meetings or discussions are including this word and the use of the word ‘times’ to follow as we try to understand and assess the situation we are in and the conditions we face. 
  2. New norm – in a world turned seemingly upside down and with our pre-lockdown sense of the norm and routine gone, we are all trying to define and even shape what normal now is and looks like. Most of us want some sense of order, routine, processes and structure so that we can function and have a sense of purpose.
  3. You’re on mute – whilst the likes of Zoom, MS Teams and google hangouts existed pre lockdown the norm was still to have in person meetings, perhaps with the occasional virtual one. Virtual meetings have given rise to their own language and typical behaviours. It would be interesting to know how many times someone has said ‘you’re on mute’ as someone attempts to re-enact a silent movie without the subtitles.
  4. Sorry I am late I had trouble connecting – with our roads less busy, stuck in traffic is unlikely to be something you hear from someone late for a meeting. It now seems either as a genuine or less so excuse we seem to blame our connectivity or this has become an acceptable excuse.
  5. Pivot – whilst some businesses may have considered the need to respond to lasting change brought about by the pandemic, others have been more focused on short-term survival. In doing so they have chosen to ‘pivot’ their business, looking at business models or practices conducive to survival. According to the Harvard Business Review, pivoting is a lateral move that creates enough value for the customer and the firm to share.
  6. Repurpose – whilst sounding like a word you might here in a spoof business comedy as some form of management speak, many business leaders and managers have had to either look for alternative markets for their goods or services or look to different business models and processes. The skills and role of those able to repurpose are likely to be in demand for some time - perhaps with businesses even looking to appoint Repurposing Officers (ROs).
  7. Blursday - a new made up word being used to describe the situation when lockdown and working from home has got to the point that you have no real idea what day it is, even that you didn’t realise it is a non-working day.
  8. Quranteams - a term being used to describe your virtual work bubble – we do like to have a name for everything.
  9. Worklife blend/balance – even before lockdown greater consideration was being given by individuals to their worklife balance. Though for those working and perhaps surprisingly those furloughed, greater consideration and importance is being placed on one’s worklife balance, wellbeing and mental health.
  10. Embracing technology - whilst technology, its use and application has accelerated the pace of change, it has never been as fast as it has been since lockdown. The term embrace technology has possibly been used to describe the situation where we all, whether in our work, personal or family life, have had to get to grips with and use more technological applications. For some this may have been easier than for others, however it has highlighted issues around skills and proficiency and the need for training, support and investment.

No doubt more words and phrases will come to the fore over the coming months, some will be lasting in terms of vocabulary and some new words may even make the next edition of the Oxford English Dictionary.


No Advice

The content produced and presented by Streets is for general guidance and informational purposes only. It should not be construed as legal, tax, investment, financial or other advice. Furthermore, it should not be considered a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The information provided by Streets is of a general nature and is not specific for any individual or entity. Appropriate and tailored advice or independent research should be obtained before making any such decisions. Streets does not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of obtaining Streets' visual or audible content.

Information

The content used by Streets has been obtained from or is based on sources that we believe to be accurate and reliable. Although reasonable care has been taken in gathering the necessary information, we cannot guarantee the accuracy or completeness of any information we publish and we accept no liability for any errors or omissions in material. You should always seek specific advice prior to making any investment, legal or tax decisions.


Expert insight and news straight
to your inbox

Related Articles


Budget 2024: Changes to the Non-Dom Regime and their Implications

In the wake of the Budget 2024 announcements, significant changes to the UK's non-domiciled individual (non-dom) regime are on the horizon, with scheduled implementation for 6 April 2025. However, uncertainties loom, especially considering the potential shift in political power after the next General Election. While the outlined reforms ...


How do you avoid financial forecasting that ends up with rain instead of sunshine?

Financial forecasting can often feel like the weather forecast, financial predictions not always being as rosy as planned, or in many cases, as hoped - a bit like the weather whilst sunshine is predicted rain all too often can be the outcome.  Whilst many businesses will look to ...


Working Capital Cycle

The longer the working capital cycle, the more time it takes for your business to get a robust cash flow. It’s good practice for businesses to manage their cycle by looking at each step where possible. This could be by selling stock or product quicker, collecting monies owed ...


You might also be interested in...