Successful leadership of a team often entails a balance between motivation and accountability, as well as providing guidance or direction to and empowering the team through delegation.  In the corporate context, these (and other) qualities are important - in combination - if your company has any chance of attaining success in the market.  Empowerment through delegation, though, can have a significant impact on the culture of your company by giving your team the confidence to do what they were hired to do. This confidence certainly informs success at the project level, but this confidence also is a powerful factor in the success of the company as a whole. 

In no way does this mean you simply let your team run with a project without oversight.  Accountability (through deadlines or other metrics), motivation, and clear communication of the goal(s) are important as well.  Matthew Panzarino's article analyzing a single Apple email in the context of why Apple remains a "vital force in the industry" is a fascinating read and certainly explains "what makes Apple good when it is good" at what it does. But Mr. Panzarino also captures the essence of great leadership. Whether you are the founder/CEO of an emerging/high growth company or a leader of a well-established corporation like Apple, success does not always come from having your hand on or in every project or controlling the details.  In more colloquial vernacular - let your employees 'cook'.