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 S ...
Anderson School of Management. He joined the school in 1976 from
Harvard Business School.
Academic career
Richard Rumelt earned
Bachelor's 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 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 uni ...
. He worked as a systems design engineer at the
Jet Propulsion Laboratory
The Jet Propulsion Laboratory (JPL) is a federally funded research and development center and NASA field center in the City of La Cañada Flintridge, California, United States.
Founded in the 1930s by Caltech researchers, JPL is owned by NASA an ...
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. 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 mattersvideo)
Good Strategy/Bad Strategy: The Difference and Why it Matterswebsite)
Fundamental Issues In StrategyAmazon)
{{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