Contents

• Introduction
• Global economic crisis in 2008: challenges
• Senge’s five disciplines
• Recommendations
• Conclusion
• References

Description

– The issue of global financial crisis is crucial for businesses across the world. The crisis was triggered by a series of major bank and insurance company failures in 2008 that effectively halted major operations of global markets. The financial crisis eventually led to a global recession in many countries resulting in a sharp drop in international trade, rising unemployment as well as slumping commodity prices. The crisis has its roots in real estate and the sub-prime lending crisis (Shiller, 2008). This paper addresses the impact of this global financial crisis on organizational economy with its brief overview and describes the challenges resulted in the crisis. The main emphasis of the paper is on Peter Senge’s discipline framework that is described with a view to find out effective solutions to deal with the challenges. Before going into any further details, it is important to go through a brief overview of the global economic crisis.