Richard P. Rumelt

Profile photo of Richard P. Rumelt
 

Professor Emeritus, Harry and Elsa Kunin Chair in Business and Society

Areas of Expertise

  • Aerospace
  • Banking
  • Board of Directors
  • Business and Society
  • Business Performance
  • Business Strategy
  • Competition
  • Competitive Strategy
  • Corporate Governance
  • Corporate Renewal
  • Emerging Markets
  • Multimedia
  • Strategy
  • Technology and Innovation
  • Transformation
  • Turnarounds

About

 

Biography

Professor Rumelt received his doctorate from the Harvard Business School in 1972, having previously earned a Master of Science degree in Electrical Engineering from UC Berkeley. He worked as a systems engineer at the Jet Propulsion Laboratories and served on the faculty of the Harvard Business School. He joined the UCLA faculty in 1976. During 1993-96 he was on long-term leave from UCLA, serving on the faculty at INSEAD, France. At INSEAD, Professor Rumelt headed the Corporate Renewal Initiative, a research-intervention center devoted to the study and practice of corporate transformation.

Professor Rumelt was President of the Strategic Management Society in 1995-98. He received the Irwin Prize for his book Strategy, Structure, and Economic Performance. In 1997, he was appointed Telecom Italia Strategy Fellow, a position he held until April 2000. He has won teaching awards at UCLA and received a "best paper prize" in 1997 from the Strategic Management Journal.Professor Rumelt's research has centered on corporate diversification strategy and the sources of sustainable advantage to individual business strategies. His current research interests center on the dynamics of industry transitions with a focus on the patterns and forces shaping the evolution of complex industries.

 

Education

D.B.A. Management, 1972, Harvard University

M.S. Electrical Engineering, 1965, UC Berkeley

B.S. Electrical Engineering, 1963, UC Berkeley

 

Published Papers

Richard P. Rumelt. (2011). The Perils of Bad Strategy. McKinsey Quarterly, (2011, 1): 30-39.

Bardolet, David; Lovallo, Dan; and Richard Rumelt. (2010). The hand of corporate management in capital allocations: patterns of investment in multi- and single-business firms. Industrial and Corporate Change, 19 (2010): 591-612.

Richard P. Rumelt. (2009). Strategy in a structural break. McKinsey Quarterly, (2009,1): 35-42. [ Link ]

Liggett, Thomas M., Lippman, Steven A. and Rumelt, Richard P. (2009). The Asympotic Shapley Value for a Simple Market Game. Economic Theory, 40 (2009): 333-338.

Allen P. Webb (interviewer). (2009). Management lessons from the financial crisis: A conversation with Lowell Bryan and Richard Rumelt. McKinsey Quarterly, (2009, 3): 61-67. [ Link ]

Lovallo, Dan P. and Lenny T. Mendonca (interviewers). (2997). Strategy's strategist: An interview with Richard Rumelt. McKinsey Quarterly, (2007, 4): 56-67. [ Link ]

Richard Rumelt and Steven A. Lippman. (2003). The Bargaining Perspective. Strategic Management Journal, 24 (2003): 1069-86.

Richard Rumelt and Steven A. Lippman. (2003). The Payments Perspective. Strategic Management Journal, 24 (2003): 903-927.