Richard Post Rumelt (born November 10, 1942) is an American professor at the

University of California, Los Angeles The University of California, Los Angeles (UCLA) is a public land-grant research university in Los Angeles, California. UCLA's academic roots were established in 1881 as a teachers college then known as the southern branch of the California ...

Anderson School of Management. He joined the school in 1976 from

Harvard Business School Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...

Academic career

Richard Rumelt earned

Bachelor's A bachelor's degree (from Middle Latin ''baccalaureus'') or baccalaureate (from Modern Latin ''baccalaureatus'') is an undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to six ye ...

and

Master's A master's degree (from Latin ) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice.

of Science degrees in

Electrical Engineering Electrical engineering is an engineering discipline concerned with the study, design, and application of equipment, devices, and systems which use electricity, electronics, and electromagnetism. It emerged as an identifiable occupation in the l ...

from

UC Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant univ ...

. He worked as a systems design engineer at the Jet Propulsion Laboratory in 1963-65. He received his doctorate from the Harvard Business School in 1972 and joined the Harvard Business School faculty as an Assistant Professor. On leave from HBS, he helped found and teach at the Iran Center for Management Studies during 1972-74. In 1976 he joined the faculty of Management at the UCLA school of business. In 1993 he was appointed to the Harry and Elsa Kunin Chair in Business and Society. During 1993-96 he taught at INSEAD (France), where he received the Shell Chair in Management. Rumelt was a founding member of the Strategic Management Society and served as its president in 1995-98. He is noted for having made several key contributions to the study of business and corporate strategy. His 1974 study of diversification strategy inaugurated a stream of work on the performance implications of diversification. His 1982 paper with Steven Lippman showed how classical industrial organization results—profitability being related to concentration and to market share—could arise under perfect competition if there was uncertainty in the sources of efficiency. This result was key in the development of the "resource-based view" of strategic success. Rumelt's 1991 empirical follow-on (How Much Does Industry Matter?) showed that the most of the dispersion of profit rates in the economy was between business units rather than between industries. His 2011 book (Good Strategy/Bad Strategy) redefined strategy as a form of problem solving. It was chosen one of six finalists for the Financial Times & Goldman Sachs Business Book of the Year award for 2011.

Personal life

Rumelt is married to Kate Rumelt; the couple enjoy hiking and skiing. They live in

Bend, Oregon Bend is a city in and the county seat of Deschutes County, Oregon, United States. It is the principal city of the Bend Metropolitan Statistical Area. Bend is Central Oregon's largest city, with a population of 99,178 at the time of the 2020 ...

. His daughter is

Cassandra Clare Judith Lewis (née Rumelt; born July 27, 1973), better known by her pen name Cassandra Clare, is an American author of young adult fiction, best known for her bestselling series ''The Mortal Instruments''.'' Personal life Clare was born Judith ...

, author of ''

The Shadowhunter Chronicles ''The Shadowhunter Chronicles'' is a media franchise based on the writings of American young adult fiction writer Cassandra Clare, which currently encompasses six series of novels, three short-story collections, five graphic novels, one film, a t ...

''.

Select publications

* Rumelt, R. 1974. Strategy, Structure, and Economic Performance, Harvard Business School Press. *Lippman, S. and Rumelt R . 1982. Uncertain Imitability: An Analysis of Interfirm Differences in Efficiency Under Competition, The Bell Journal of Economics *Rumelt, R. 1991. How Much Does Industry Matter?, Strategic Management Journal. *Rumelt, R., Schendel, D., and Teece, D. 1994. Fundamental Issues In Strategy, Harvard Business School Press *Rumelt, R.P., 1991. How Much Does Industry Matter?. Strategic Management Journal, pp. 167–185. * Rumelt, R., 2011. The Perils of Bad Strategy. McKinsey Quarterly, 1(3). *Rumelt, R, 2011. Good Strategy/Bad Strategy: The Difference and Why it Matters, Crown Business.

References

External links

Good Strategy/Bad Strategy: the difference and why it matters
video)
Good Strategy/Bad Strategy: The Difference and Why it Matters
website)
Fundamental Issues In Strategy
Amazon) {{DEFAULTSORT:Rumelt, Richard Living people University of California, Berkeley alumni Harvard Business School alumni UCLA Anderson School of Management faculty 21st-century American economists 1942 births