Managing up, or upward management, is very much necessary. However, it's also a huge black hole for your time and effort. In many ways, this black hole mirrors the relationship and dealings between you and your team. The critical difference is that you're also a manager and have a group of people to take care of, while your team of developers does not. So, there are specific extra considerations and responsibilities you must think about.
As a manager, it would be typical for you to have more diverse responsibilities and less time than your team members. As you go further up the management chain, especially if it's in a large corporate organization, the same can be said for your manager, and their manager, and so on.
There are differences you need to consider that are purely caused by both your own and their organizational position.