Leadership and management are different disciplines often expected in the same person. Knowing which the situation requires is its own skill.

Management

Given a goal, execute efficiently. Optimise, track, measure, remove blockers. The work of running the thing.

Leadership

Choose the goal, build trust, inspire through conviction, develop people. The work of aiming the thing.

When each matters most

Steady quarters: management does most of the useful work. Uncertainty, change, crisis: leadership takes over. Great operators know which mode the situation calls for and switch.