Hiring managers often ask this question to gauge whether you are someone who is open and accepting of constructive criticism. Being able to accept criticism can help you improve your overall performance and potentially even accept advancement opportunities within an organization. The interviewer is usually less interested in the type of criticism you received and more interested in how you handled it. Interviewers also use this question to determine how well a candidate can accept different management styles and in which type of work environments you will be most successful.

Because this is a challenging question, it's important to think through your response prior to the interview. Consider how your professors, teammates, or peers have offered constructive criticism. Think about the feedback they gave you and any suggestions they offered on how to improve in the future.
Also, consider your response to the criticism--whether you accepted and applied it constructively and what you would do differently. The best responses to this interview question explain how the feedback you received helped you grow personally and professionally.