How can someone maintain credibility and goodwill while acknowledging a mistake has been made?

A) Minimize the potential damage from the mistake
B) Provide a long list of reasons why the mistake was made
C) Identify all those who were instrumental in supporting the bad decision
D) Take responsibility for the mistake
E) Send a letter of apology to all affected by the mistake

Answer: D
Explanation: D) People are usually very uncomfortable when they need to acknowledge mistakes they have made or problems they have caused. Yet in business, taking responsibility for mistakes and bad decisions is critical for maintaining both credibility and goodwill.