what do you think your boss?

When I was working (I was working for more 10 years in 2 different organizations), I always respected my boss for his seat, though knowledge wise he lacked efficiency and effectiveness. But then I was there to report to him the latest trends, changes, and used to update him and he as a sort of totally relying me. Hence there was no clashes of interest at all, I was giver and he was receiver. Later when I started my own business, I am the boss and I have couple of assistants. I delegate the responsibilities to my assistants and they run the show better with sense of responsibility and sense of involvement.