It is useful to consider the nature of growth, how it occurs, and what some of the implications are. Taking the macro view, some see that economic growth and prosperity result from interaction at different levels ranging from the organization to the sector and then the national and international level. Growth within each of these can be supported or constrained by a number of factors such as the development of technology platforms, environmental fluctuations, political, economic or societal change, and regulatory changes that introduce new laws and standards at an industry or national level. Growth is driven by a complex amalgam of multiple issues – some of which are internal to a company or sector and can be more easily managed or stimulated, but there are also external influences which have to be accommodated as they unfold.
We can use the economist’s perspective to see patterns that let us recognize and categorize what type of growth is taking place and we can understand some of the key characteristics. This can be done at both the national/regional and organizational/company levels.