It's a wide variety of skills with understanding everything, your product, your distribution, sales, marketing, financing, hiring, all human resources, budgeting, etc. There is a ton of things to worry about, though corporate welfare is the lowestAnd as you go up the food chain, the more you have to worry about all the things combined, not just your small piece in the cog. It's the ones that understand and make the right decisions with regard to everything that make it to the top.
No, it's having the right resources, including people and connections. You actually don't have to understand all the technical details of each business area.
But you do need to understand enough to be able to understand what you are being told by those who know more about it than you do.