Nobody likes a ‘know-it-all’ (and nobody, including you and I, does know-it-all). If you make a mistake, make an unqualified apology, make it quickly and clearly, and then move on. If you want your teams to work with integrity you have to model the behaviour yourself. This approach will also help your team be willing to take more (calculated) risks and to generate new ideas because they know that a humble leader will really listen. The illusion that too many senior leaders create is that they have all the answers and are right all the time. They may want to appear to be strong leaders, but this is damaging to their team, their business and even themselves (because they will be unwilling to learn and will find the pretence increasingly stressful). It will also increase unhealthy conflict in a blame-avoidance culture and virtually guarantees a higher staff turnover. Humility is not weakness; it is an essential trait in successful leaders.
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