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Alternative ways of organizing are emerging, questioning and challenging conventional assumptions regarding organizational structures, managerial roles, and leadership. In addition, new emerging industries, such as the Internet industry, possibly fuel the development of new ways of organizing. This article examines and discusses stratified systems theory in terms of its key concepts, constructs, support, and limitations, as well as discussing its perspectives and underlying assumptions, applicability in academic research, and usefulness for practitioners. The theory is positioned as a modernistic approach and an early attempt, and, in some ways, a contribution to the integration of leadership and organizational theory, and of theory and practice. From the practitioner’s perspective, this article provides no general academic support for the proposed value of applying the theory and its extension for organizational design and improvement. However, applicability of the theory in contemporary research has some support, but there are differences in its support, and limitations to the key concepts and constructs should be considered. This article calls for further research exploring the support and limitations of the key concepts and constructs from theories within the field of adult development, and furthermore, research that explores what is really new regarding hierarchical structures, managerial roles, and leadership in new types of organizations. Finally, research that explores how organizational design can shape and leverage leadership development is called for.