How to Manage Hierarchies

Click on Field Management > Manage Hierarchy.

Drill down to the level in which you're wanting to edit/move.  For this example, we work with a field.

First, we'll edit the name by clicking the "Edit" button:

Change the name and then click the "Save" button.

If you wish to move the field, click the "Move" button.

Using your dropdowns, select where to move the field to and click the "Move" button.