A top organizational theorist named “Russell L. Ackoff” encapsulates the literal difference between “Growth” and “Development” by stating “A rubbish heap grows, but it does not develop” giving us another right lead to search for the verdict between these terms. We often hear economics and theorists using these terms while elaborating success or its deprivation upon attaining our personal as well as business goals.
The term “Growth” is considered as an element which we can count on manual terms once it starts increasing from one point to another. It should be in our best interest that various theorists and economists have confirmed that its existence can be evaluated quite easily, whether it’s an organization adding more people or an incorporation demonstrating its profit upon completing a certain amount of time in the market.
However, theorists have not emphasized over how things accelerate or progress at the time of elaborating the term “Growth”, ensuring that we must ponder on the end result rather than finding how companies have progressed in a short span of time and so on. Therefore, as per the findings, “Growth” isn’t strong enough to evaluate “Development” while being on its own potential.
It would be fair to state that the “Development” incorporates several other aspects while evaluating that how companies or individuals have propelled from one point to another. It demonstrates the element of “Growth” through its qualitative evidence which embarks on its improvement in various other corridors of business.
For example: A developed organization will insist upon maintaining a better interaction level with the people working under its roof. It emphasizes on evaluating the degree to which certain companies have affected the lives of their employees, which is off-course in terms of wealth, prestige and an improved lifestyle.