Richard P Rumelt, is the Harry and Elsa Kunin Chair in Business and Society at the UCLA Anderson School of Management, and is a towering figure in the strategy field. Often seen as one of the founders of the resource-based perspective, Richard Rumelt’s research on corporate diversification strategy, the sources of sustainable advantages, and the conceptual and theoretical foundations of strategy has been highly influential. He was one of the first scholars to systematically explore microfoundational issues in strategy. Richard Rumelt was President of the Strategic Management Society in 1995-98. He received the Irwin Prize for his book Strategy, Structure, and Economic Performance. His current research interests center on the dynamics of industry transitions.