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Yes leading from the top is important. From the top you get a better view all around you. If you are say a marketing manager you can look at the advertising, pricing , selling ,blogging and all other aspects of marketing. You can look at the competitors strategy and formulate your own marketing strategy for the various departments to implement. And leading from the front is also important. However up one may be one should not lose the contact with the customer. For that reason many managers interact directly with the customers at least for one day in the month to get a feel of it.
I agree with you Emad,
Leading from the top is like standing on a mountain. From the summit, we have clarity, we have perspective, and we have altitude. Each of us can plant a flag on our mountain. How you define your mountain is up to you. When you are at the top, though, you know it.
"Leading from the Front" is a more appropriate term than "Leading from theTop".