Both notions describe success and reaching goals. Growth shows an increase in something which can be counted. For example, an organization can grow by adding people. Profit can grow by adding money. Growth is shown through evidence of it happening. By itself, it can not measure development. On the other hand, development can be caused by structural changes, for instance. It can refer to economic development which means that not only the profit increases but working conditions get better and employees may have higher salary. To sum up, growth is about quantitative increase and development refers to qualitative improvement.
