While many senior executives continue to talk about the "voice of the customer," few demonstrate their commitment to this concept by spending time with customers. Many continue to use their intuition or `golden gut' in their attempt to provide superior customer value. Unfortunately, `senior executive intuition' is rarely attuned to the needs of their customers. While the competitive environment continues to intensify, executives have cut back on the time devoted to customers just when it should be increasing. This article discusses the need for senior executives to spend time with customers and provides examples of the benefits that this approach will provide.

The discipline of modern strategic management, as it originated in the 1950s and 1960s, was concerned with the formulation of an organization's short-term and long-term planning goals. Today, with the global economy growing everyday, strategic management has taken on a new meaning, making it both a management technique and a philosophy. This paper reviews the development pathway of strategic management theories, identifies the rules of evolution of strategic management, and predicts the future trends of strategic management ideologies.

The fundamental nature of competition, is changing in the global marketplace. The business environment is characterized by change in one or more of the areas of consumer demographics, tastes and preferences, change in nature of products and services, advances in distribution and logistic capabilities, varying competitor strategies and changing technology. The pace of change is relentless and is increasing incrementally. In a fast changing market such as that of cellular phone companies, product life cycle is as short as a month or two. These changes in the business environment have caused companies to modify their management philosophy from process management to strategic management, from inbound management to outbound management, from behavioral management to cultural management, and from product market management to value management.

The rapid pace of change is now no longer considered unusual. Understanding its impact is vital for the success of any company. A fair number of new trends have emerged with this rapid change. It is essential for a company to identify and grab these trends with matching vision, so that it can occupy a profitable position in the competitive environment.To update the reader on some new and emerging development trends in strategic management ideologies, it is necessary to first take a step back, review its development process, adopt a long-term perspective, observe its steps and rules and appreciate the changes in strategic management concepts.

Strategic Management Theories: A Revisit, long-term planning goals, management technique, strategic management, consumer demographics, behavioral management, process management, management philosophy, competitive environment, development process.