An leader should be able to learn
What-An effective leader should be able to understand and search for the lessons in both successful and unsuccessful outcomes.
Why-There are hidden lessons in the failure, and leader should not be afraid of admitting the failure. In order to create a learning environment, leader should realise that there could be a change in the culture. For example, he described to a group that sales figures go down because of his misunderstood in market research. The lesson, he explained, was that he can be more open-minded and share the ideas with team.
How-One way to learn is to note down the lesson, and be reflective. And then broadly communicate the resulting insight. In the future, I should reward managers who are laudable and willing to take responsibility of failures. It also important to create a learn culture that any inquires are highly considered and mistakes are fully analysed and viewed as a learning point. No blaming.