That's not going to cut it in an era in which being nimble and taking risks will be rewarded, and where the overall revenue pie is shrinking. That isn't to say some big mistakes can't cost you your job, but inaction will do the same thing.
You know you don't have all the answers, and neither do your subordinates, but they know about their world, and they're more likely to have the right answer in those narrow areas than you are. Make them accountable for their decision, but let them make the call. That's the only way you'll be able, overall, to make the transformational process change that will prepare your organization for a much different business model.
Do some introspection. Maybe it's time to have to have a private conversation with yourself and realize the only way this is going to work is if you let your people try something and be okay with making mistakes here and there. If you can get to that point, you're well on your way to something other than leading or following—you'll be leading by getting out of the way.