This is, to me, the definition of a senior software engineer. Awareness across every single part of the process of making software. Not expertise, necessarily, but enough knowledge to know what to be on the lookout for.
More of a team leader at least, non-IC. Some Senior ICs deliberately don't want any part in politics, just want a task and want to get it done (see for example advice on HN about avoiding meetings and politics at all costs).
One ill effect of not deciding to participate is that you'll be subjected to rules that which you play no part in establishing. I think it's about the balance to strike between being well and content with what's going around, and needing to exercise control to change the environment.
A friend described it to me once "a leaf node" in entire company structure - not a manager. I think it is a good description, also reason why saying "engineer" does not cover all ICs.
