There can be no significant growth of an organization without a proper development

There have been many writings on the concepts of growth and development of organizations. In short, growth is tied to the changes of quantitative measures, while development is concerned with qualitative measures of an organization. These two concepts go hand in hand, because there can be no significant growth without a proper development, and development is rarely needed if there's a lack of growth. Even though prerequisites for growth and development differ in their nature because “constraints on a system's growth are found primarily in its environment, but the principal constraints on a system's development are found within the system itself” (Gharajedaghi & Ackoff, 1984), both concepts need to be aligned in order for an organization to be viable in the long run. It's one of the biggest responsibilities and the most challenging tasks of management today! 

Reference: 

Gharajedaghi, J. & Ackoff, R. L. (1984). Mechanism, Organisms and Social Systems. Strategic Management Journal, 5: 289-300.