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SMs should be able to communicate intent, purpose, and expected outcomes clearly and rely on Managers to fill in some tactical details.
It’s a role where everyone makes demands on your time and there’s rarely enough of it. It’s also important to give Managers and below room to execute in a way that makes sense to them.
OP, the answer is both. Many people leave at M level because SM is considered the hardest level in consulting, and Ms decide they don't want to be MD/partner.
Meanwhile, SMs shift their primary focus to sales instead of task management.
Yup! At SM is when I said “f this!”
I did find that when I shifted to SM and would have Managers under me dealing with daily tasks instead, I would be more like a “one line” emails only (for the most part); but in those situations where I deal directly with my staff; then do an more specific.