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The chapter deals with the interface between the law of succession and corporate law and explains the completely different objects of these two fields of law. Succession law tries to shift and contribute assets to the successors, whereas corporate law focuses on the well-being of the company. However, in a family business, it is necessary to find legal, social, and psychological techniques to combine these two areas and to establish strong and binding relations. This is the function of shareholder agreements and family constitutions.

How do families-in-business deal with intergenerational female succession in their company’s corporate governance structures, i.e., the board of directors? How is female boardroom capital built up? This chapter explores the boardroom immersion processes and mentorship programs followed by 44 Mexican and Spanish next-gen women owners of 2nd, 3rd, and 4th generation, privately-owned, national and international firms, who were appointed for the first time to their family business’ board of directors between 2005 and 2020.

Our outcomes show that intergenerational female corporate governance succession is driven more by particular families-in-business matters, like the inheritance of ownership rights, than by corporate governance codes or soft legislation. We discovered that next-generation women owners are more likely to be appointed for the first time to their family business boardroom when they’re between ages of 38 and 47. Ninety percent (90%) of them will be appointed at or before 57. Our findings also reveal that 4th generation female owners are immersed in the boardroom at a younger age.

When analyzing the immersion processes, we noticed too that due to limited business socialization during their upbringing, some of these well-­educated, professionally qualified females had to cope with holding legal ownership (potestas) in the family firm but missing business decision-making legitimacy (auctoritas) in the governance structure. Based on our results, we developed a families-in-business female boardroom capital development framework to help them achieve both: potestas and auctoritas, as well as to facilitate next-generation women owners’ boardroom incorporation in family enterprises.

Family constitutions are relatively new to the law of family companies, although there might have been forerunners in the history of entrepreneur families. The practical importance and the proliferation of family constitutions in German family companies are increasing, along with the discussion of family constitutions in legal literature. This new instrument of family governance is not law driven but business driven, it has been designed by business advisors. Its analysis and classification are still at the very beginning in academic research and practice. Even though family constitutions are generally deemed to be without any legal effect and not legally binding, from a legal point of view, this assumption is at least highly questionable.

Large-scale organizational change, such as seen through mergers and acquisitions, CEO succession, and corporate entrepreneurship, sometimes is necessary in order to allow firms to be competitive. However, such change can be unsettling to existing employees, producing considerable uncertainty, conflict, politics, and stress, and thus, must be managed very carefully. Unfortunately, to date, little research has examined the relationships among change efforts, perceptions of political environments, and employee stress reactions. We introduce a conceptual model that draws upon sensemaking theory and research to explain how employees perceive and interpret their uncertain environments, the politics in them, and the resulting work stress, after large-scale organizational change initiatives. Implications of our proposed conceptualization are discussed, as are directions for future research.

Based on the tasks and responsibilities of global leaders, the benefits of a holistic view in global leadership talent acquisition are identified. The main areas of this integrating process, such as succession planning, attracting, and mobilizing talents, selection, training and development, and retaining global leadership talents, are described. The success factors and principles of a global talent acquisition process are presented and explained. Furthermore, this chapter shows that a proactive step for global organizations is to build an in-house global leadership talent pool to ensure having the right global leaders in the right places at the right time.

Reputational crisis negatively affects brands and companies. This chapter, based on a single case study, aims to explore how prejudicial corporate statements directed toward lesbian, gay, bisexual, and transgender (LGBT) individuals have affected the Italian multinational Barilla S.p.A., as well as how the company responded both internally and to the market in order to attempt to overcome the highly damaging consequences.

This chapter uses a single case-study methodology, which constitutes “a research strategy that focuses on understanding the dynamics present within single settings to create theoretical constructs, propositions and/or midrange theory from empirical evidence” (Eisenhardt, 1989, p. 534). The case-study design was chosen as it has been demonstrated to provide a methodological tool for both theory generation and theory testing (Gibbert et al., 2008).

Conclusions from the chapter indicate that negative, incendiary, and oftentimes comments citing either religious or stereotypical-based ideology negatively impact both the consumers and its associated publics in terms of product branding or reputation image.

The study’s limitations, which rely primarily on a single case study and secondary research data, may motivate further investigative avenues, particularly as similarly referenced events continue to unfold almost daily, such as the study’s referenced incident with Philippine boxer Manny Pacquiao, as well as action taken by social media giants (Apple and Facebook) against the controversial media figure Alex Jones.

This chapter also looks at family succession roadblocks and navigating social media gaffes. These contemporary issues highlight challenges, strategies, sales and market share dynamics for the company, and suggestions for navigating the road ahead. The research concludes with possible linkages and insights for both ongoing management issues and potential areas for future research. Other findings indicate that rapid responses, particularly those citing concrete corporate policy changes or tangible actions, help to reverse and mitigate reputational damage, and contemporary approaches utilizing social media appear to buttress these efforts.

This case study of Barilla as well as other firms mentioned, such as Chick-fil-A and Nike (which have experienced parallel situational crises), indicates that in only the last five years of contemporary international business practice, MNEs are continually and at times unexpectedly challenged by the lack of sensitivity demonstrated by their owners and spokespeople who utter comments which may be seen by the public as potentially harmful to the LGBT community. This study hopes to illuminate this challenge while offering tangible solutions to turning around future, similar situational crises.

Entrepreneurship is an emerging and evolving field of inquiry. Entrepreneurship research has been expanding its boundaries by exploring and developing explanations and predictions of entrepreneurship phenomena in terms of events such as innovation, new venture creation and growth as well as characteristics of individual entrepreneurs and entrepreneurial organizations. The largest institutionalized community of entrepreneurship scholars – the Entrepreneurship Division of the Academy of Management – has developed an entrepreneurship specific domain that incorporates the creation and management of new businesses, small businesses and family businesses, and the characteristics and special problems of entrepreneurs; it has further identified major topics such as new venture ideas and strategies, ecological influences on venture creation and demise, the acquisition and management of venture capital and venture teams, self-employment, the owner-manager, management succession, corporate venturing, and the relationship between entrepreneurship and economic development. One growing entrepreneurship research sub-field is corporate entrepreneurship (intrapreneurship), i.e. entrepreneurship in existing organizations. Emerging in the past two decades, the initial research in corporate entrepreneurship focused on new business venturing, i.e. the formation of new ventures by existing organizations, mostly corporations, and the focus on the entrepreneurial individual inside a corporation – this focus was then extended to include entrepreneurial characteristics at the organizational level. Corporate entrepreneurship research has evolved into three focal areas. The first area of focus is on the individual intrapreneur (Jennings, Cox & Cooper, 1994; Jones & Butler, 1992; Knight, 1989; Lessem, 1988; Luchsinger & Bagby, 1987; McKinney & McKinney, 1989; Pinchot, 1985; Ross, 1987; Souder, 1981), mainly emphasizing the intrapreneur’s individual characteristics. The recognition and support of entrepreneurs in organizations is also a part of this focal area. The second area of focus has been on the formation of new corporate ventures (Burgelman, 1985; Carrier, 1994; Cooper, 1981; Fast & Pratt, 1981; Hisrich & Peters, 1984; Hlavacek & Thompson, 1973; Krueger & Brazeal, 1994; MacMillan, Block & Narasimha, 1984; Szypersky & Klandt, 1984; Vesper, 1990); this area’s primary emphasis is on the different of types of new ventures, their fit with the corporation, and their enabling corporate internal environment. The third area of focus is on the entrepreneurial organization (Burgelman, 1983; Drucker, 1985; Duncan et al., 1988; Hanan, 1976; Kanter, 1984; Kuratko et al., 1993; Merrifield, 1993; Muzyka, de Konning & Churchill, 1995; Pinchot, 1985; Quinn, 1979; Rule & Irwin, 1988; Schollhammer, 1981; Stevenson & Jarillo, 1990; Stopford & Baden-Fuller, 1994), which mainly emphasizes the characteristics of these organizations.

In recent years, the corporate governance structures of family businesses have become increasingly important to the public. This is due not only to the increasing number of corporate successions but also to the (still) lower degree of formalization of corporate governance in family-owned companies. In this chapter, the authors analyze theoretical and empirical findings on family governance with a focus on family constitution and present the results of their own exploratory empirical survey conducted in 2017.