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.