The healthy organization is one which regards all four constituencies as ends, not means. I am not arguing that the market never rewards companies which are disregardful of one or more constituencies. Microsoft is an example. Nevertheless, given enough time, I believe that the company which will succeed best in the long term is one which respects all four constituencies. Values Leadership is not a binary state.
Most people spend some of their time leading and some being led.
If we were all equally qualified to lead, we would still want to designate one of us, perhaps in rotation, to act as the leader. Assuming that the group exists in a democratic, competent society where people want to be treated as adults, and not abdicate all power to a paternalistic leader, they will pick an individual somewhat more experienced than the rest, and capable of applying that experience to decision-making. Decisiveness is important. Nothing harms confidence as much as a perceived inability to decide. To survive, let alone flourish, an organization needs a large number of decisions made in real-time.