Organizational Growth and Sustainability in Developing Economy: A Theoretical Prognosis

Abstract

Organization and its sustenance are key to the development of economy of countries all over the world. This paper examines organizational growth and how such is sustained to ensure development. Various forms of organizations were examined, organizational growth and sustainability where conceptualized. The problem of organizations in developing economics was identified as lack of sustainability in terms of discontinuity, which affects economic growth and development negatively. Rostow stage theory of economic growth provided the theoretical framework. The Basonian theory of socio-cultural forces, integration, growth and development was presented as a prognosis for guiding organizations towards growth and development in developing countries. It is concluded that socio-centric forces within organizations, like ego-centric, ethno-centric, theo-centric and natu-centric forces interplay determines organizations survival, growth and development. It was recommended that different types of organizations are predominantly controlled by different socio-centric forces and such forces that promotes each organization’s growth should be promoted.