Some people have waited for this crisis to happen. They rub their hands in a sense of self-satisfaction now that they see a collapse of a system, a management approach and they pull their own ideology out of the closet. In that, they discard completely any positive element of the other method and propose to do things completely different: a switch of at least 180 degrees.
The short-term versus long-term focus is one of the examples people demonstrate. In the new management approach we should switch completely to a long-term focus similar to that of durable and sustainable growth and investments.
Now I agree with some of it. I have written a book about finding a balanced approach and the above example is basic in understanding dimensions of such a balance. There are many more views and areas in which one should try to find a balance.
Yet, now after years where much of Europe has imported the US methodology, they now return to their roots of the Rhineland model.
In such a change, people tend to throw everything overboard they had previously learned and adopted and continue to concentrate on a new approach.
This is however a destructive action which will lead to new problems in a future that is still far away but will come sooner than later.
To balance resources, methods and effort is of all times and those who simply concentrate on a single trick will engage mayor risks, in the same way investors will face risks when they do not balance their investments.
Think about this when changing your management system. Important lessons are (only) learned when people accept what they did wrong. Such an analysis is an important part of managing a crisis and before making important changes.
HJB