In the words of many:
"If you are not open to criticism, you are not open to growth"
Now, a lot of times, we may get defensive or upset after the criticism, but a general audience just does not accept this response. And if we are on the receiving end of criticism, then we must not forget the very fact that it is the only way to know and improve ourselves.
Another question that immediately pops up is the way we were criticized. Not only in corporates but in real life too, it has been proven time and again, that constructive criticism is the best way