While the term “chasing the dragon” originally referred to the dangerous and addictive practice of smoking heroin or opium, the concept can also be applied to organizations in the context of pursuing unattainable goals or constantly seeking more without regard for the consequences.
In business, chasing the dragon can lead to an insatiable desire for growth and profit, leading companies to take risks that ultimately prove to be unsustainable. This can result in financial ruin, loss of reputation, and even legal consequences.
For example, a company may engage in unethical or illegal practices, such as cutting corners on safety or quality standards, to increase profits in the short term. This can lead to a lack of trust from customers and stakeholders, ultimately harming the company’s long-term success.
Similarly, an organization may focus solely on chasing the latest trend or buzzword, rather than focusing on their core values and priorities. This can result in a lack of direction and purpose, as well as a loss of competitive advantage.