Wisdom Wednesday! Responding To Negative Feedback

I have yet to meet a perfect boss.  I also have not had the pleasure of working with a perfect peer.  In fact, I cannot think of the last time I considered myself perfect.  So with constant reminders that we are all human, why do some of us get bent out of shape when we are given negative feedback at work?  Today we will explore the issue of negative feedback (or constructive criticism, or opportunities for improvement, or whatever else we might call it).  How do we respond?  What actions should we take?  Feel free to pass on any tips via email, twitter (@KLGLLC), or calling into the show!