I think that leading by example is one of the most important characteristics of a leader. I feel like by encompassing most of the other characteristics (good judgement, physical stamina, understanding followers needs and work effectively with them, inspiring a shared vision – to name a few), and setting a good example is much more effective at getting people to become good leaders themselves, then it would be just telling them what to do. Part of being a good leader is to encourage others to become good leaders so seeing a good leader in action teaches and inspires the followers so that they too have the skills and potential to be a good leader too.