Good thoughts from Martin Eriksson on how the PM is not The Boss. From Product Management is a Team Sport:

The bottom line is that everyone in the company owns the product, and its success or failure lie in the hands of everyone who touches it. A product manager’s job is to lead the team to tackle the product challenges together, to get the best out of everyone on the team when building the product, and to provide a gentle hand to keep it all consistent and going in the right direction.