Learning organization (LO) is a concept that has evolved for decades; but, it was popularized by the book Fifth discipline by Peter Senge. There are many literatures in relation to the idea of learning organization; however, most tend to respond to the issue of how to make it work. This article reviews existing literatures to assess the evolution, empirical assessment and critique of the concept in business research. This study confirms limited empirical work in relation to LO and complexity of the concept. There is evidence of lack of understanding of the concept and how to effectively apply it to one's organization. This research recommends for the concept to be further revisited and that more empirical work be done to give more flesh to the concept, more especially in developing countries, bearing in mind the diversities of national cultures in places like Africa, in order to validate the principles and claims of LO.