There are 2 main errors leaders can make: delegate too little, too late and continue to micro-manage, or delegate too much and to the wrong person. Both are very damaging.
The first error severely limits the both individual and organisational capacity. It also ensures that ideas and staff engagement will be sparse and condemns the manager to, at best, a stressful tenure.
The second error lacks control, puts the subordinate in a difficult position and carries very high risks (think of Nick Leeson at Barings Bank as an extreme example).
Good delegation is well-considered, empowering and effective. It benefits the subordinate, the manager/executive and the organisation. It is marked by clear goals and adequate resources with robust escalation and governance systems.
When you have delegated a task in this manner, it is important to understand that your subordinate probably won’t do it how you would do it. As long as they stay within their boundaries of responsibility, that’s fine – it may even produce a better result!