In my experience, though, I see managers and therefore companies struggling exactly because they do the opposite. They are unable to delegate, to trust and to think "he or she doesn't have the right experience to do it". Sometimes this stems from pride and arrogance - you are unable to admit that someone else can do what you are doing and you should maybe focus on something else. It can go as bad as a power play: if I grow people, eventually they want more and more.
Other times it comes simply from ignorance: I have always done it this way, and I am not sure how to move forward, because nobody in the team is ready to lead.