This can occur when the entry point to a specific library or even a library file is not found.
This happens because the MYXILINX (For ISE) or MYVIVADO (For Vivado) variable is set to a patch containing a library or executable from an older version of the software.
The solution in this case is to reset MYVIVADO to be empty.
To do this in Windows, use the command below:
set MYVIVADO =
In Vivado 2014.4 and later a "patches" directory can be created under the Vivado install directories.
All tactical patches unzipped to this directory will be automatically found without having to set MYVIVADO.