Many managers give lip service to delegation of authority, but few actually follow through with it when it matters. True leaders understand that delegation is essential to creating a climate in which people can grow.
Delegating Important Matters
One example of delegating important matters is when an important contract with a supplier comes up for renewal. Most managers would not delegate such a decision, but they should. By finding the person in the organization to whom a good contract will mean the most, writing out the expectations, and giving them full authority to negotiate and make decisions, a manager can create a more favourable outcome for the company.
Place Accountability Where it Belongs
Delegating authority also means placing accountability where it belongs. Instead of reviewing every legal document, a leader can trust their general counsel to ensure that legal and operating aspects are covered. By doing so, your chief of operations can focus on bigger issues without increasing legal expenses.