
Realising you are wrong, acknowledging your mistake and course correcting is the surest sign of critical leadership. Leadership is disaster if it does not early in the game detect the error.
Four easy steps to adopt for course correction :
1. Realisation & Early Detection
2. Setting the new Vector right
3. Allowing the Attitude – Thrusters set the new aim right
4. Facilitating Main Thruster pushes it along the new path to set the course, right again.

Source: Adil Malia