When working with clients I've always used "Character and Competence in the service of a common Cause" as my definition of the core of leadership.  Working from that definition, I associate character with the qualities of leadership, competence with the skills of management, and cause as the endeavor to we we apply both.  All three are absolutely essential.

To wit, having high character and low competence may garner you interpersonal regard/admiration but it's unlikely to inspire confidence that you can lead others effectively.  You risk being seen as a CHEERleader.

High competence with low character can help you gain respect- for your abilities- but will hinder your ability to connect with others, earn their trust, or motivate them to join your cause.  You could become a TASKmanager.

When they combine you achieve Managerial Leadership.

If we're lost in the woods we want our leader to know how to keep us motivated AND read a compass and a map.  Otherwise, nice guys finish lost...