No standard hierarchy exists for controlling area &

What causes this issue?

You attempted to branch to change/display of the
<GL:standard_hierarchy>standard hierarchy</> although no standard
hierarchy exists.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

Create a standard hierarchy for controlling area &V1& (basic data,
area) and save it after returning to the controlling area list screen.
You can then branch to the standard hierarchy created.

Error message extract from SAP system. Copyright SAP SE.