This requires self awareness and the ability to admit when you are wrong.

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But when we take time to honor the people in our presence, admit when we are wrong, and slow down to really think about our communication with one another, we are showing the smart side of our brand when using our smart phones.

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When market moves against a trader, he or she has to be willing to admit to being wrong, Grady said.

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Banks responded slowly when things went wrong, preferring to give the market a chance to recover than to admit to bad loans.

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