What's the difference between a leader and a manager. The oft-quoted answer of Warren Bennis is that a leader does the right things, and a manager does things right. Another way to look at it is that leaders must be good at strategy, and managers must be good at tactics. Studies show that companies that execute well have an edge over companies that strategize well.
Great companies have both skills in abundance.
The following image is based on a chart used by Sears to hire, promote, and appraise their leaders. It reflects three core values, passion for the customer, passion for the company, and passion for the company's talent. I find the chart useful as a framework for discussing the areas of focus needed by engineering team leaders. A good manager must have a loyal, dedicated, talented team. They must also address the needs of the company, and the needs of the customer.