They learn about some of the gray areas in which administrators operate. Students arrive at new understandings about themselves as they use their own knowledge and experiences to reflect on that story. Vocabulary and concepts learned in the classroom are reinforced as a practicing leader relates details of a story that might involve issues of discipline, special needs, due process, safety, decision making, and more. There's an added benefit. And leaders enjoy hearing what their story means to another person.
Students draw many conclusions about leadership from the study of leadership stories.
Those values differ from leader to leader, but usually include descriptors such as caring, empathy, and humanism. If you're respectful of and honest with folks you get that back. Others' values center around a vision for the school. Leaders empower others by leading without power. Negotiation skills are essential to strong leaders.