Failure as a leader

How does a leader deal with failure - not only personally, but when an employee or a team fails? What can you do in a position of leadership so that you and your team learns, adjusts and achieves more success.

Quotable quotes:

DF: "A big sign of failure is not accepting that failure is a part of life."

SP: "We look up at successful people because they stand on a mountain of failures."

MM: "We are all going to fail, now how are we going to handle it?"