From my own personal experience, I am convinced that the large majority of companies building software products are wasting an enormous amount of the creative energy that lies dormant within their disempowered teams.
To leverage the huge unused potential, we need to define the primary role of product managers and their collaboration with development teams quite differently. Product managers should be assigning their teams problems to solve instead of predefined work to get done. We need product managers and team leads to become experts in facilitating inclusive participatory problem-solving in their teams to build innovative products long-term, and to solve the hard problems of their businesses.