Purpose: The purpose of this paper is to empirically examine organisational learning (OL) and individual managerial learning and provide a comparative evaluation of the ability of each to generate organisational benefits. Design/methodology/approach: A theoretical model of organisational learning is developed which was then longitudinally tested in four organisations using causal cognitive mapping methods. Findings: The results demonstrate that organisational learning can increase shared managerial understandings that may lead to organisational benefits derived from higher degrees of unified action. However, the study also revealed potentially dysfunctional aspects of organisational learning such as cohesive managerial mental models inhibiting learning and organisational learning can be slower than individual learning. Research limitations/implications: The research methodology and analysis is innovative and unique in this context. The author recognises the need for further research. Practical implications: There is benefit for managers in promoting organisational learning; however, care must be taken to recognise when this learning is dysfunctional. Originality/value: Whilst there have been strong theoretical assertions that OL is crucial for organisational survival and success, this is one of the few longitudinal empirical studies to support these claims. Another contribution is the generation of empirical evidence derived from cognitive methods which have rarely been used in the organisational learning context. (Contains 2 figures and 2 tables.)