Earlier quoted context omitted.
This is what people seem to forget. A company that doesn't grow for all intents and purposes is a dead company. Or in the M&A world we call it "distressed". It doesn't matter how profitable you are if you don't get grow there are serious implications - employee motivation, loss of talent, erosion of customer services, etc.
I don't see how employee motivation, loss of talent, erosion of customer services are related to the need for unyielding year on year growth. There are companies out there, private ones, where their customers are happy, their employees are happy (most of the time) and their retention is high.
Companies that aren't growing? I meet A LOT of companies (about ~50 or so a year) and I can tell you there is massive difference between the distressed ones and the ones who are growing. btw - even 2~5% growth is fine, it doesn't need to be 25% google scale growth...but flat or declining is bad.