The business world loves “growth.” Therefore, investors invest in potential growth possibilities on the stock market. In addition, companies publish yearly reports based on growth performance. Worldwide, the most critical economic indicator to rank countries is the growth rate.
Sales teams count sales and revenue for the growth. Human resources report how many employees they have. Banks calculate the number of customers, and e-commerce companies measure website visits.
Development is different. The “development” includes more qualified sales and more profitable customers. A company focused on development creates value for people. It covers innovative approaches and change. Comparing development and growth is a comparison between quantity and quality.
Think about developed and developing countries distinction. Being a developed country means economic growth and better living conditions for citizens. What are better living conditions? Better job opportunities, better housing, better health care, safer and trustful community, better education, etc.
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