Perceived Environmental Dynamism, Relative Competitive Performance, and Top Management Team Heterogeneity: Examining Correlates of Upper Echelons’ Advice-Seeking

Heyden, Mariano L.M.; Doorn, Sebastiaan van; Reimer, Marko; Bosch, Frans van den; Volberda, Henk

doi:10.1177/0170840612470229

Cited by 91 publications

(116 citation statements)

References 185 publications

(273 reference statements)

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“…For example, Bennett and Robson (2003) found relatively traditional sectors with more stable technologies made the least use of business support, whereas the higher-use sectors were those experiencing technological and organisational changes, such as publishing, the media, and business services (Heyden et al, 2013) and those affected by government regulations (e.g. food manufacture).…”

Section: External Influencesmentioning

confidence: 99%

Which SMEs seek external support? Business characteristics, management behaviour and external influences in a contingency approach

Mole

North

Baldock

2016

Environment and Planning C: Politics and Space

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To improve SME growth and competitiveness, governments often encourage business ownermanagers to make use of external sources of support. Whether they seek this depends on the degree to which they perceive themselves to need assistance. Additionally, its use can be constrained by market failures. In this paper, we model whether SME owner-managers seek information and advice from formal sources, including public and private providers. In 2011, the researchers conducted a telephone survey of 1202 SMEs (1-249 employees) in England to assess the use and non-use of external support between 2008 and 2011. Using a contingency approach, we model various influences on the use and non-use of formal support and identify those owner-managers who face more concerns but have less confidence in their capabilities. We find that the demand for support, especially from private providers, is fuelled by a firm's objective to grow and a size threshold, although this is moderated by various concerns which increase the likelihood of using public sources. The willingness to take informal advice can act as a stepping stone to using formal sources. Whilst market failures affected less than a fifth of firms, those with women directors were particularly affected as were newly founded firms.

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Section: External Influencesmentioning

confidence: 99%

Which SMEs seek external support? Business characteristics, management behaviour and external influences in a contingency approach

Mole

North

Baldock

2016

Environment and Planning C: Politics and Space

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“…Research from the top management team field suggests that, particularly, the advice seeking behavior of senior executives, which is often regarded as their dominant way of information acquisition in decision situations, plays a major role in this context (Alexiev et al 2010;Heyden et al 2013). It suggests that information acquisition via the individual advice seeking behavior can improve performance and the overall strategy process (McDonald and Westphal 2003).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…We measured internal and external advice-seeking behavior on an individual level based on a scale by Alexiev et al (2010), adapted from McDonald and Westphal (2003), which is frequently used in research in the domain (Heyden et al 2013).…”

Section: Independent Variablesmentioning

confidence: 99%

“…Research from the top management team field suggests that particularly the advice seeking behavior of senior executives-as their dominant way of information acquisition-might influence the level of biases in strategic decision making processes (Alexiev et al 2010;Heyden et al 2013). In strategic decision-making situations, advice-seeking behavior is defined as the extent to which executives rely on advice and information from internal and/or external sources as a basis for decision making (Heyden et al 2013).…”

mentioning

confidence: 99%

“…In strategic decision-making situations, advice-seeking behavior is defined as the extent to which executives rely on advice and information from internal and/or external sources as a basis for decision making (Heyden et al 2013). Theoretical and empirical research in the field of strategic decision making has suggested that individual advice-seeking behavior of executives can have a positive effect on strategic decision making through its positive influence on individual judgment (Yaniv 2004).…”

mentioning

confidence: 99%

See 2 more Smart Citations

Debiasing illusion of control in individual judgment: the role of internal and external advice seeking

Meißner

Wulf

2014

Rev Manag Sci

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This paper builds on behavioral strategy and strategic decision making literatures to propose a stronger integration of information acquisition behaviors in debiasing research. We argue that the advice-seeking behavior of executives-as their dominant way of information acquisition-may have a fundamental effect on cognitive biases in individual judgment. Empirical results of a vignette-based survey of 186 top executives in German SMEs support this claim. We posit that internal and external advice affect individual judgment differently and that external advice, in particular, is likely to be effective for debiasing. These results suggest new avenues for debiasing research that go beyond the active intervention techniques that have been the focus of debiasing research thus far.

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Cultural Variations in Reasons for Advice Seeking

Zhang

et al. 2016

Behavioral Decision Making

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Five studies examined cultural differences in reasons for advice‐seeking behaviors. Content analyses in Study 1A and self‐ratings in Study 1B consistently revealed that Euro‐Canadians were more likely than East Asians (mainly Chinese) to seek advice for informational reasons, whereas East Asians were more likely than Euro‐Canadians to seek advice for relational reasons. Study 2A showed that Chinese displayed a higher level of relationship concern than Euro‐Canadians in deciding from whom to seek advice in a decision dilemma. Study 2B found that, although Chinese and Euro‐Canadians did not differ from each other on willingness to pay for informational advice, Chinese were willing to pay more for building a relationship with the advisor through advice seeking than Euro‐Canadians were. Study 3 explored how the advice giver might perceive an advice seeker in terms of their competence and the closeness of their relationship after advice was sought for various reasons. We found that relationally oriented advice seeking increased the perceived competence of the advice seeker among Chinese more than among Euro‐Canadians. Information‐oriented advice seeking increased the perceived closeness between the advice seeker and advice giver among Chinese more than among Euro‐Canadians. Implications for other aspects of advice exchange are discussed. Copyright © 2016 John Wiley & Sons, Ltd.

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Perceived Environmental Dynamism, Relative Competitive Performance, and Top Management Team Heterogeneity: Examining Correlates of Upper Echelons’ Advice-Seeking

Cited by 91 publications

References 185 publications

Which SMEs seek external support? Business characteristics, management behaviour and external influences in a contingency approach

Which SMEs seek external support? Business characteristics, management behaviour and external influences in a contingency approach

Debiasing illusion of control in individual judgment: the role of internal and external advice seeking

Cultural Variations in Reasons for Advice Seeking

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