It’s important for people to believe that openness given can lead to openness received. This openness must extend to admitting mistakes when necessary. […] When people admit to mistakes, others in a group are more apt to do so as well. It’s always better to know about mistakes earlier than later. Being open about them has the added benefit of giving critics less ammunition.
Source: “The Jazz Process – Collaboration, Innovation and Agility”, Adrian Cho, Addison-Wesley