Panacea comment for Financial Advisers and Paraplanners
20 Sep 2017
A buzzword is a word or phrase that becomes very popular for a period of time. Buzzwords often derive from technical terms yet often have much of the original technical meaning removed, being simply used to impress others. They started to appear in the 1960’s.
‘Learnings’ is a buzzword, it has become very popular in the world of accountability, liability and in particular regulation.
There are some excellent examples of the use of this particular buzzword. It will often be found in sentence constructions from governmental organisations and official public bodies. For example, ‘there are key learnings to be had’, an ‘enquiry is needed to discover what learnings can be made’, or ‘we will apply these learnings immediately’.
The definition of what it implies and what the ‘outcome’, another buzzword meaning ‘the way a thing turns out; a consequence’, are actually two different things.
We hear that word ‘learnings’ a lot at the moment. It can be heard in relation to regulation (as a catch all industry in its own right) law and order, healthcare, disasters, failures of …well anything in general really that involves collective responsibility or blame when the reality is that no person ever ends up being fingered for blame.
‘Learning’s’ and ‘outcomes’ are often linked to the word ‘vulnerable’, meaning to be exposed to the possibility of being attacked or harmed, either physically or emotionally creating a verbal triptych’.
So when you hear these three words in the same sentence (they often form part of a BBC interpretation rather than a factual report of a news event) give it a little thought and a wry smile.
Because ‘learnings’ never ever happen. If they did we would not hear the mantra being chanted every time something goes wrong, as a form of absolution, as in it is not my fault.
Outcomes should lead to a learning; again they never do for the same reason.
They do not even lead to an intervention, more of that word another time.
And the ‘vulnerable’ are a growing collective in society. The word is overused, miss-applied and has become meaningless as we have become anaesthatised by hearing it so much, the vulnerable’ of the world must now outnumber those that are not.
In the world of financial services regulation, not a day will pass without reading, seeing, hearing all these words, individually, in pairs or a full blown broadside of them.
And with such overuse, they have no meaning, no empathy, no humility and no sincerity any more. Next on the radar is ‘our thoughts and prayers go to’!