The significance of the cell cycle in growth and development lies in its role in cell division and replication, essential for producing new cells. The cell cycle consists of various phases: interphase (growth and DNA replication) and mitotic phase (cell division). This process is crucial for tissue growth, repair, and maintaining homeostasis in organisms. Accurate regulation of the cell cycle ensures proper development and function; disruptions can lead to issues like cancer. Thus, the cell cycle is foundational for life and organismal health.