Opportunities and pitfalls of advice seeking by CEOs and executives [in Chinese]

Abstract

Chief executive officers receive an abundance of advice – from board members, fellow CEOs and executives, strategic partners, and others – and sift through such recommendations to make difficult decisions. Advice is also important for CEOs to cope with environmental shocks or unprecedented crises like the Covid-19 pandemic. But how do CEOs really seek and receive advice? Does the advice always bring benefits? Are there any pitfalls of advice seeking? That’s a topic we examined in a paper in the Journal of Management based on a review of 65 studies in high-impact academic journals.