Everyone makes mistakes, it's just a fact of life. Most people are too proud to admit their mistakes, or too stubborn to realise that they actually have made a mistake. For successful teamwork and management you need to keep a couple of things in mind.
Firstly, always keep an open mind. If you accept from the start that you could be wrong and that other suggestions could be right (or better) then you are already in a strong position. Make sure people know this is how you feel by listening to their suggestions and being humble.
Secondly, as soon as you realise your mistake, don't wait for it to be pointed out. Pluck your courage and say to everyone, publicly if you can, that you were wrong and that you are genuinely sorry. You'd be surprised at the respect and appreciation this kind of action can generate.
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