Coaching and development of people is a must have for todays management leader. This skill should be used on a continual basis. Coaching should be excercised on any and every given opportunity.
Coaching can consist of activities from aiding poor performing employees improve, to helping top performers tweak performance hindering activities. Coaching is not an activity where you seem to know everything, it is however an attitude of "I'll help any way I can".
The "Leader" in most organizations has many roles. These roles are of vital importance to acheiving the goals set forth in its mission statement. These roles include Coaching,Developing employees, Giving Constructive feedback, analyzing performance issues, and grooming others for advancement.
The leader should be responsible for developing employees. From new employee to seasoned veteran, anyone can improve. Constructive feedback, leaders should be able to give constructive feedback to employees in such a was as to build them up, never to tear them down. Addressing performance problems, this includes analyzing and correcing these kinds of problems. Finding Leadership replacements, Grooming others for advancement.
No one ever gets things done alone, as a coach, it is our job to successfully lead others in the right directions.
I highly recommend reading the book "The Art of Advice:How to Give it, How to Take it" by Jeswald W Salacuse. This book discusses effective ways to communicate advice to others.