If you've worked for a variety of companies over the years (and most of us have), you can use hindsight to compare and contrast the way these firms are organized. Some are highly decentralized, and decisions are left at the divisional or departmental level. The corporation acts to guide and coordinate -- but not operate -- the units. Other companies have stricter command-and-control structures and business units are expected to be on the same page, all the time. The units look above for both strategic and operational guidance. Centralization requires these corporations to work at scale, leveraging common approaches and resources -- and reuse and repetition serve them well.
Still, other cultures are jumbles of styles. Some aspects of the business, such as procurement, are centralized, while others, such as marketing, are not.