An effective leader needs to practice what she preaches, to own the espoused values and be a role model.
The essence of leadership needs to be value based. The values exist in the business environment and need to be made to "work"; the core values need to translate to concrete business practices that the individual and the organization prides itself for. The “leader at work” needs to provide a single window view of this, in order to provide a guiding light for others to set their employeeship context. The context setting also involves building the sense of positioning: in terms of business, organization and the individual. The organizational vision sets the target and that target is translated by an effective leader into personal practices that stand out as guiding posts for others to emulate, and in due time become the processes of the organization. The vision in this case evolves and is not "given". The natural leadership evolves in this way and sets the broader context for others to function in.
The other business aspect that a leader must handle is the change. The adaptability of individual to handle change is the key to effective management. This requires keeping alive to the "movement of cheese" and ways to make ones own cheese, both at individual and at the organizational level. Men are not mice, wealth is created and not "just there"; the creation of wealth for customer translates to creation of wealth for the organization and the individual as well. This requires coaching, mentoring of people by an effective leader. That helps to create a shared environment of excellence where customer wealth creation is the key. The practices, both personal and the organization are a result of this.
Lastly, an effective leader gradually makes herself redundant! She grooms people to grow, to take responsibility and ownership, to take her role(s), such that she can move forward and the organization can move forward.