In the above sample, \parent1 might be shared RW to all managers, and \child1 might be shared RO to all non-managerial employees. The \parent1 share might have payroll data (confidential), and the \child1 share might have work assignments (not confidential) that you want the managers to be able to write to.
I typically might set up a folder scheme on a server like this:
\data
\data\sales
\data\accounting
\data\engineering
\data\manufacturing
\data\home
I might have a shares called data, sales, accounting, engineering, maufacturing, and \home\bob, \home\jim, \home\sally
Using groups and permissions, EVERYONE gets RW to their own home directories, and to the department that they report to.
The boss gets RW to the whole \data directory, and the bootup script may map a drive letter to %username% and another to \data, and depending on their needs another drive letter to \engineering or whatever.
MFG employees might need to read the engineering files, but not write to them.
The thing about this model is that the admin account can back up \data and everything gets backed up. Also, any new employee can easily find the files they want, and if their groups are set up properly, they won't be able to get into the data that they shouldn't.