If you have not read Who is a bad manager?, this is a response to that.
A good manager has following characteristics
He leads from the front i.e. he has leadership skills
A good manager is not scared of the crisis. He knows that he has a good team which can handle one. He places himself first in line of fire and inspires his team.
He treats everyone with respect
He knows the usefulness of treating everyone with respect. He knows that respect is reciprocated
He doesn't favor one person over the other.
He is anti-favorite. He knows the importance of everyone in the team. He encourages different skill set so that team has an overall balanced skill set. That however does not mean he does not recognize star performers. Team is but higher than any individual for him.
He uses 'Carrot and Stick' policy when necessary
He knows that there will be cases of indiscipline and nonperformance sometimes. He knows sufficiently how to deal with them. He knows when to reward and when to punish an individual. He treats everyone professionally.
He reserves the brickbats for himself while passes on the praises to his team
A very important trait of the leader is to shield his team from some disastrous consequences. All the heroes in the history have taken the blame upon them for failures. However, if there are successes, he refuse to take the credit. He instead passes it to the team.