As long as:

(1) The technical staff understand the business constraints AND (2) management understands the technical constraints AND (3) both constraints "match" you are in heaven. I've seen that. Is possible. Is nice.

More often than not, one of the 3 conditions is not met. In case of 1 and 2, if they are good professionals, talk can (and typically will) help. In case of 3, you business case sucks, that is a big problem, change company. Run.

I am the worst example to ask this. I regularly go rogue or work on private shit during work. As long as there isn't any pressing work to do I force the balance I need. Perks of working alone I guess.