The paper focuses on how growth develops as exposed through managerial activities. By directing attention to ‘developmental growth’, incorporating the aspect of learning, in terms of changes in managers’ actions and interactions, manifested in the variation and richness of activities, some contribution could be made to strategic management and activity-based research. Growth is amenable to an understanding that brings to the fore dynamic, process-relational thinking, inclusive of learning, and as argued in the paper, the focus on growth needs to be ingrained in an ontology that is particular sensitive to the social, historical, learning individual. The recognition of activities in multiplex interwoven formations, where the past is appreciated in its philosophical hermeneutical significance, is thought to pave the way for a dynamic conceptualization of growth.