Richard Rumelt quote: “[In related businesses] common skill, market or resource applies to each.”

“But, as soon as speculators become an important influence in the market, their business is to speculate on each others behaviour.”

Joan Robinson (1903–1983) English economist

Source: Contributions to Modern Economics (1978), Chapter 5, The Rate of Interest, p. 46

“The new trade theory picture of the world looks something like this: Each country has, at any given time, a set of broad resources—land, skilled labor, capital, climate, general technological competence. These resources define up to a point the industries in which the country can hope to be competitive on world markets. […] But a country's resources do not fully determine what it produces, because the detailed pattern of advantage reflects the self-reinforcing virtuous circles, set in motion by the vagaries of history.”

Paul Krugman book Peddling Prosperity

Source: Peddling Prosperity (1994), Ch. 9 : The Economics of QWERTY

“Is marketing management an art or a science? Some marketing observers maintain that good marketing is more of an art and does not lend itself to rigorous analysis and deliberation. Others strongly disagree and contend that marketing management is a highly disciplined enterprise that has much in common with other business disciplines.”

Philip Kotler (1931) American marketing author, consultant and professor

Philip Kotler, Kevin Lane Keller, Mairead Brady, Malcolm Goodman & Torben Hansen. (2009). Marketing Management. p. 819

“Is marketing management an art or a science? Some marketing observers maintain that good marketing is more of an art and does not lend itself to rigorous analysis and deliberation. Others strongly disagree and contend that marketing management is a highly disciplined enterprise that has much in common with other business disciplines.”

Kevin Lane Keller (1956) American business theorist

Philip Kotler, Kevin Lane Keller, Mairead Brady, Malcolm Goodman & Torben Hansen. (2009). Marketing Management. p. 819

“[ Diversification strategy is] a firm’s commitment to diversity per se, together with the strengths, skills or purposes that span this diversity, shown by the way in which business activities are related one to another.”

Richard Rumelt (1942) American economist

Source: Strategy, structure, and economic performance. (1974), p. 29

“So important is this skill that we apply it everywhere, warranted or not.”

Benoît Mandelbrot (1924–2010) Polish-born, French and American mathematician

Source: The (Mis)Behavior of Markets (2004, 2008), Ch. 12, p. 245
Context: People want to see patterns in the world. It is how we evolved. We descended from those primates who were best at spotting the telltale pattern of a predator in the forest, or of food in the savannah. So important is this skill that we apply it everywhere, warranted or not.

“The criticality of a resource can be measured as the ability of an organization to function in the absence of the resource or in the absence of the market for the output.”

Gerald R. Salancik (1943–1996) American organizational theorist

Source: The External Control of Organizations, 1978, p. 46

“The criticality of a resource can be measured as the ability of an organization to function in the absence of the resource or in the absence of the market for the output.”

Jeffrey Pfeffer (1946) American academic

Source: The External Control of Organizations, 1978, p. 46

“Marketing Management: A Contemporary Perspective provides a fresh new perspective on marketing from some of the leading researchers in Europe. The book offers students and practitioners the comprehensive coverage they need to make the right decisions to create and implement highly successful marketing strategies. This exciting new book combines scholarly international research with relevant and contemporary examples from markets and brands across the world.
The authors combine their experience as researchers and industry consultants to provide the conceptual and theoretical underpinning of marketing and empirical research, helping students to understand how marketing concepts can be applied and implemented. The book covers a full range of industries including business-to-customer, business-to-business, services marketing, retailing and international marketing from companies around the globe.”

Christian Homburg (1962) German academic

Abstract 2009 edition.
Marketing management: A contemporary perspective, 2003

“Relational skills are the most important abilities in leadership.”

John C. Maxwell (1947) American author, speaker and pastor

Book Sometimes you win Sometimes you Learn
Variant: Responsibility is the most important ability that a person can possess.
Source: Developing the Leaders Around You: How to Help Others Reach Their Full Potential

“[In related businesses] common skill, market or resource applies to each.”

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