In Jim Collins latest book How The Mighty Fall he talks about companies that start on a systematic downward spiral that leads ultimately to total failure as an organization. One common problem he found is that when they finally realize they are in serious trouble rather than dealing with real problems they search for the quick fix approach of finding the right silver bullet.
When full blown panic sets in there is a frantic search for several silver bullets that can be dramatic big moves such as game changing acquisitions or a risky new strategy or an exciting innovation or new leadership, anything that can save us. The following is list of several silver bullets observed:
1. Grasping for a Leader as Savior: The board responds to threats and setbacks by searching for a charismatic leader and an outside savior.
2. Panic and Haste: Instead of being calm, deliberate, and disciplined, people exhibit hasty, reactive behavior, bordering on panic.
3. Radical Change and Revolution with Fanfare: The language of revolution and radical change characterizes the new era: New Programs! New cultures! New Strategies!
4. Hype Precedes Results: Instead of setting expectations low—underscoring the duration and difficulty of the turnaround—leaders hype their visions initiating a pattern of overpromising and under delivering.
5. Initial Upswing Followed by Disappointments: There is an initial burst of positive results, but they do not last; dashed hope follows dashed hope; the organization achieves no buildup, no cumulative momentum.
6. Confusion and Cynicism: People cannot easily articulate what the organization stands for; core values have eroded to the point of irrelevance; the organization has become just another place to work.
There are no quick fixes or silver bullets for organizations that have complex long term problems that have built up for decades. The new realities of the global economy did not create these problems it merely acted as a catalyst to reveal them.