Business Development in Post-Growth Economies: Challenging Assumptions in the Existing Business Growth Literature

Abstract

Existing literature has not specifically examined individual business growth in post-growth economies. This paper challenges dominant assumptions in the business growth literature by considering post-growth economies as an organisational context characterised by natural resource scarcity and an absence of macro-level economic expansion. We investigate conceptually how such a context impacts business growth theory by seeking to answer three major questions: (1) What is business growth? (2) Why do businesses grow? (3) And how do businesses grow? Accordingly, post-growth contexts pose three major challenges to business growth theorising: (1) business growth as an increase in measurable outcomes, (2) resource competition and dispositive path dependencies, and (3) detrimental growth modes and strategies. Based upon six revised assumptions, we redefine business development in line with forces at work in post-growth economies. We further suggest a multidimensional research agenda that can catalyse future discussions of post-growth organisations. These discussions have the potential to overcome the inertia in business growth theory and its discrepancies with practice.

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