Performance Beyond Economic Growth: Alternatives from Growth-Averse Enterprises in the Global South

Among other aims, degrowth calls for a deprioritization of economic growth as primary indicator of success. However, deprioritizing economic growth is challenging because it is the antithesis of business as we know it today. Yet, in this study, we find examples of enterprises operating in the renewable energy industry in the Global South, which deprioritize traditional economic growth as their preferred indicator of success. We interviewed 30 renewable energy enterprises (REEs) on the basis of an importance-performance analysis (IPA). Our findings confirm that conventional measures of financial performance are not universally applicable to all enterprises in the Global South. Specifically, we observed that the REEs that are least satisfied with conventional economic performance indicators possess two characteristics in common: (1) they have strong social motivations (e.g., energy access and poverty alleviation) and (2) they are averse to economic growth in the traditional sense. We draw insights from these REEs for the future of post-growth enterprise, including the importance of localness in success and performance appraisal as the Global South transitions toward degrowth. We also introduce 14 alternative performance indicators, suggested by the REEs themselves, which may help bring enterprises closer to post-growth orientation in the Global South.