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It is commonly accepted that successful performance of a firm hinges on restricting activities to cultivating a related and familiar range rather than 'bold moves into uncharted'.

— Richard Rumelt Strategy, structure, and economic performance (1974)

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More quotes by Richard Rumelt

Changes don't come along in nice annual packages, so the need for strategy work is episodic, not necessarily annual.

A leader’s most important job is creating and constantly adjusting this strategic bridge between goals and objectives.

A major advancement in the strategy field is the development of models where firm heterogeneity is an endogenous creation of economic actors.

Ambiguity as to what factors are responsible for superior (or inferior) performance acts as a powerful block on both imitation and factor mobility.

The kernel of a strategy contains three elements: a diagnosis, a guiding policy, and coherent action.

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Quote text and notes from Wikiquote: Richard Rumelt (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.