The article explores issues of what matters mast in individual organization
al and societal transformation - economic issues or spirit? Transformation
is defined and literature on individual, organizational and societal transf
ormation is presented The article looks at the standard arguments that econ
omies are the driving force in transformation and then postulates that spir
ituality may be as much - if not more - of a driving force. Evidence is pro
vided on the growth of interest in spirituality. Then three theories of tra
nsformation are offered one at the level of societal transformation. Each o
f these theories incorporates elements of spirituality in order to understa
nd the prerequisites of transformation.