There is currently a field under the Org2 tab to view the Parent Corporation of an organization, but no field to view any subsidiaries for an organization. The current option is to create an org relationship for the two companies. Perhaps the number of subsidiaries might become too cumbersome, but it might be nice to be able to view the actual subsidiaries (not just the number of subsidiaries) as well. Similar to a spouse relationship, creating a parent corp / subsidiary relationship would auto-populate the Parent corp field and a Subsidiary field (if made available.)
AMEN - having to both list the parent corp as well as create a relationship is duplicative. Adding the parent corp should automatically create a relationship!
The Parent Corporation field is pretty much useless currently. It doesn't even actually link to the Organization record in RE, it just copies the name into the field and gives you the option to increment the No. of Subsidiaries field by 1. If the name of Organization is changed on the parent's record it doesn't get updated on the subsidiary record so all connection between the two is lost because the names no longer match.