Hansei is a Japanese term meaning self-reflection. It is a central idea in Japanese culture and has two meanings. First one being - Acknowledging one's mistakes or errors is the first step to improvement and second - taking success with modesty and humility.
The first one ensures that the mistakes are not repeated and second one ensures that there is always scope for improvement.
An application-oriented question on the topic along with responses can be seen below. The best answer was provided by R Rajesh on 29th November 2018.
Applause for all the respondents- S D Khalandar, Sahil Anand, Ramakanta Routaray, Alpana Shah, Ferdoz Yunis