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Purpose In view of dynamic and widespread economic transformation in emerging economies, managing organizational change and growth in this context deserves more research attention. The purpose of this paper is to examine how three organizations in different industries manage change, growth and transformation in their organizational ecosystem. Design/methodology/approach The authors conducted in-depth interviews with the leadership of three organizations in different economic sectors in India, a country representing an emerging economy. The authors also reviewed historical data from these organizations. Three case studies illustrating the evolution of these organizations were developed from the data collected. Findings Lessons and implications from the three case studies suggest the following key elements of effective organizational change mechanisms in an emerging economy: visionary entrepreneurial leadership; program quality excellence; scale growth and scope expansion; network capabilities; and sustainable stakeholders’ engagement. At the same time, this study also shows how these organizations manage change, growth and transformation in the context of a society with strong traditions and cultural norms. Research limitations/implications Results and conclusions may be limited by the fact that the study is based on three case studies. Additional studies from a variety of industries with large numbers of participants will be helpful in more fully understanding the ways in which change, growth and transformation can best be developed and deployed in different organizational settings. Practical implications The proposed model of organizational change in an emerging economy may assist organizational leadership in designing and sustaining their change efforts. Social implications This study highlights the role of visionary entrepreneurial leadership and the impact of organizational growth mechanisms on organizational value delivery capabilities and organizational reputation. Originality/value Lessons and implications of five growth steps of outstanding organizations in an emerging economy context provide valuable insight for organizational change, growth and transformation in other emerging contexts.