In several recorded retreats, Eckhart Tolle explores the depth of this passage from the Old Testament. He points out that each part of the phrase is a synonym for the other. Be: Being. Still: Stillness. Know: Knowing. I am: I am'ness. God: The One/Source/Universe/Intelligence.
As a leader, knowing who you are and leading from that perspective can be very powerful. The trick is to first become aware of your authentic self ("I Am") and understand your impact on others. The next trick is to always remember to tap into this strength when leading.
On the awareness front there are several good instruments for gaining insight into behavior (Myers-Briggs) and motivation (Enneagram). I (and many leaders I know) have done significant self exploration through these tools. While helpful, these personality indicators may not go quite far enough. Over the years, Henry Kimsey-House (co-founder of the Coaches Training Institute) refined an I Am typing system for leaders that he developed in his youth by working with actors. These leadership styles are more fully explored by Henry in his book The Stake which I recommend without reservation.
Being aware of one's most authentic and compelling leadership style is a start. Leading "on-type" is another matter. Over the years we become conditioned to put on certain personas (or masks) in certain circumstances. By doing so, our authenticity becomes diminished, and while we may be able to achieve certain nominal results in the short run, transformational results are rarely achieved in the long run.
So, how do we stay on-type? One way is to tap into our inner authority. In the coaching context, we call this our "Captain", or inner leader who has access to unlimited wisdom, compassion, courage, clarity and certainty. Our Captain can help us stay on-type, even when external circumstances or people attempt to steer us off course. If you do not know who your Captain is, then I strongly suggest you work with a Co-Active coach to get acquainted with that side of yourself. If you do know your Captain, then let (him, her, it) guide your leadership.
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