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Upper echelons research has emphasized decision making either by individual CEOs or by teams of top managers. The authors introduce the CEO-Adviser model as an intermediate model of strategic decision making. The CEO-Adviser model leads to new propositions that have not been explored through the individual CEO or top management team models concerning how context affects the use of formal versus informal advisory systems and how advisers are selected.
Arendt et al. (Mon,) studied this question.