It's okay to admit mistakes

  @FortuneMagazine February 10, 2014: 5:56 PM ET
QUI08 makers mark new coke
(Fortune)

It was a quick about-face. Just days after announcing it would try to keep up with growing demand for its upscale bourbon by watering down its whiskey, Maker's Mark said "never mind." After an angry reaction from bourbon drinkers, the Kentucky distiller's management decided it wasn't worth alienating its loyal customers by messing with the recipe.

Critics derided Maker's Mark management for poor judgment, but I say kudos to Maker's Mark's top brass: They knew when to listen to the customer and pull the plug on a bad decision.

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