If no one leads the team, you can't beat the competition.
Continuing my suggestions from last month for maximizing your productivity in a slowing economy, I want to emphasize the importance of the manager's role as a team leader. There is a lot more to leading a successful team than just being the boss. An effective manager performs several functions that all lead to increased productivity.
Workflow fluctuates. So when business slows down, employees often have some free time. It's human nature to make the tasks they have to complete fill up the time they have to do them. If they don't have much to do they will take longer to complete their work.