Being able to appropriately give and receive feedback is an important communication skill. Managers and supervisors should continuously look for ways to provide employees with constructive feedback, be it through email, phone calls, or weekly status updates. Giving feedback involves giving praise as well – something as simple as saying "good job" or "thanks for taking care of that" to an employee can greatly increase motivation.
Similarly, you should be able to accept and even encourage, feedback from others. Listen to the feedback you are given, ask clarifying questions if you are unsure of the issue, and make efforts to implement the feedback.