Management and organizational studies have traditionally relied on the concepts of growth and development. Due to the juxtaposition of these terms and their diverse implications, there may be some confusion and misinterpretation in academic and practical contexts. The aim of the research was to investigate the definitions and functions of growth and development in management and the organizational sphere in order to offer a better understanding of the varied roles of these concepts and their contributions to organizational evolution. To accomplish this, a comprehensive study of the literature was conducted, in which a review of seminal publications and major contributions by notable researchers was carried out and various scholars’ perspectives on growth and development were assessed. Furthermore, an effort was made to identify major themes, similarities, and differences in the available literature. This study showed that the main focus of growth is quantitative expansion. Development, on the other hand, is concerned with qualitative advancements. It is also argued that growth and development should be sought continuously in order for an organization to remain successful in the long run, since they may be inextricably linked. Based on these findings, a conceptual framework is presented that converges growth and development in the organization as a system for long-term sustainability. By adopting this framework as the foundation for future research, scholars and practitioners will be able to better understand the different yet interconnected nature of growth and development in organizations. Furthermore, this study may provide assistance to managers striving to navigate growth and development, allowing for a more managerial approach to organizational success in a rapidly changing global environment.