Peer-Reviewed Journal Details
Mandatory Fields
Mackenzie, C., Garavan, T. N., and Carbery, R.
Advances In Developing Human Resources
The Global Financial & Economic Crisis: Did HRD play a role?
In Press
Optional Fields

The Global Financial and Economic Crisis starting in of 2007 and its resultant impact has called into question the contribution of Human Resource Development (HRD] strategies and practices. With its primary focus on the development of human resources, it could be argued that HRD aligned itself too closely with the strategic goals of organizations, often times profit centric, and failed to provide leaders with the skills, knowledge and values required to question the decisions made by organizations in the pursuit of profit goals. Utilizing Cognitive Appraisal Theory (CAT), this article draws on the official reports and public inquiry hearings exploring the financial crisis in the US, UK and Ireland and finds that HRD strategies, practices and  processes is one factor which contributed to a culture of excessive risk-taking and ineffective decision making. We outline the implications for HRD theory and practice.   

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