In "Power Failure in Management Circuits," Rosabeth Moss Kanter argues that larger organisations often suffer from a feeling of "powerlessness" - the acquisition of "responsibility for results without the resources to get them".
To counteract this perceived lack of power to complete tasks, managers tend to create an alternative, oppressive form of power through which they are seen to "punish, to prevent, to sell off, to reduce, to fire, all without appropriate concern for consequences." It is Kanter's contention that to prevent this from happening, managers should 'expand' their productive power through the process of delegation - "by empowering others, a leader does not decrease his power; instead he may increase it."
In other words, Kanter believes that managers can accomplish their goals by expanding/sharing their power through delegation. Indeed, according to Kanter, "the true sign of power is accomplishment."
It is the managers who "let go of control downward, developing more independently functioning lieutenants" who become the most powerful, as they are able to achieve organisational goals more quickly and generally more effectively.
To read more about Kanter's theory, as well as an unfavourable 'critique' on her work set forth by Clinton T. Brass, see: http://www-personal.umich.edu/~ctbrass/delegation.html
For more information on delegation, visit the Skillgate website. Go to 'Library', scroll down to the 'Managing People' section, click on 'delegation', and there you should find a number of links to other relevant material.