Purpose: The study addresses four vital issues in the area of organizational learning (OL) literature. The purpose of this study is to elucidate the following: definition of OL, accepted dimensions of OL, antecedents and consequences of OL and the link between OL and performance and innovation. Design/methodology/approach: The study presents a systematic literature review and concept analysis of OL, along with a focused discussion on the association of OL with performance and innovation. Findings: After articulating multiple perspectives, OL can be defined as the process by which organizational knowledge base and insights are developed via associations between past actions, the effect of those and future operations. OL has two widely acknowledged dimensions, namely, exploratory learning and exploitative learning. Moreover, the study presented a conceptual analysis of OL along with a comprehensive framework for precursors and outcomes of OL. Originality/value: This study probes the issues and the pattern in the literature of OL domain. The presented conceptual analysis gives direction to the future endeavours of researchers in the field of OL.