Corporate Hierarchy: The structured organization of authority within a company, with the most senior executive at the top and junior employees below. Corporate hierarchy plays an integral role in good governance and maximizing efficiency as it formally acknowledges roles and responsibilities and ensures everyone is on the same page. While corporate hierarchy can provide structure and accountability, it is important to remember that creativity and collaboration do not have to be hindered by rigid lines of authority – nurturing a workplace culture where ideas can flourish will ensure the organization remains competitive.