Corporate structures refer to the organizational framework that defines how a company operates and is managed. This structure outlines the roles, responsibilities, and relationships between different levels of management and employees. Common types of corporate structures include hierarchical, flat, and matrix models, each with its own advantages and disadvantages. In a hierarchical structure, authority flows from the top down, with clear lines of command. A flat structure, on the other hand, has fewer levels of management, promoting a more collaborative environment. The matrix structure combines elements of both, allowing for flexibility and improved communication across departments, which can enhance project management and resource allocation.