This important verse of Śrīmad-Bhāgavatam is corroborated and nicely explained in the Bhagavad-gītā (10.41-42) as follows:

There are many powerful kings, leaders, learned scholars, scientists, artists, engineers, inventors, excavators, archaeologists, industrialists, politicians, economists, business magnates, and many more powerful deities or demigods like Brahmā, Śiva, Indra, Candra, Sūrya, Varuṇa and Marut, who are all protecting the interest of the universal affairs of maintenance, in different positions, and all of them are different powerful parts and parcels of the Supreme Lord. The Supreme Lord Śrī Kṛṣṇa is the father of all living entities, who are placed in different high and low positions according to their desires or aspirations. Some of them, as particularly mentioned above, are specifically endowed with powers by the will of the Lord. A sane person must know for certain that a living being, however powerful he may be, is neither absolute nor independent. All living beings must accept the origin of their specific power as mentioned in this verse. And if they act accordingly, then simply by discharging their respective occupational duties they can achieve the highest perfection of life, namely eternal life, complete knowledge and inexhaustible blessings. As long as the powerful men of the world do not accept the origin of their respective powers, namely the Personality of Godhead, the actions of māyā(illusion) will continue to act. The actions of māyā are such that a powerful person, misled by the illusory, material energy, wrongly accepts himself as all in all and does not develop God consciousness. As such, the false sense of egoism (namely “myself” and “mine”) has become overly prominent in the world, and there is a hard struggle for existence in human society. The intelligent class of men, therefore, must admit the Lord as the ultimate source of all energies and thus pay tribute to the Lord for His good blessings. Simply by accepting the Lord as the supreme proprietor of everything, since He is actually so, one can achieve the highest perfection of life. Whatever a person may be in the estimation of the social order of things, if a person tries to reciprocate a feeling of love towards the Supreme Personality of Godhead and is satisfied with the blessings of the Lord, he will at once feel the highest peace of mind for which he is hankering life after life. Peace of mind, or in other words the healthy state of mind, can be achieved only when the mind is situated in the transcendental loving service of the Lord. The parts and parcels of the Lord are endowed with specific powers for rendering service unto the Lord, just as a big business magnate’s sons are empowered with specific powers of administration. The obedient son of the father never goes against the will of the father and therefore passes life very peacefully in concurrence with the head of the family, the father. Similarly, the Lord being the father, all living beings should fully and satisfactorily discharge the duty and will of the father, as faithful sons. This very mentality will at once bring peace and prosperity to human society.