You take an important decision, but it's the wrong decision, which could lead the company to bankruptcy. What are you doing? You return to your decision to save the company or hold to save your reputaion and hide your lack of competence?

I think I will likely to save the company because with company many people/employees are associated. In my view, one can learn from mistakes and then become a good manager/leader. 

Do everything you can to save the company.     The decision that might damage your reputation has already happened, and if the company goes bust it will all come out anyway.   Your only chance is to save the company.

Try to figure out what went wrong.  Was it

a) A poor decision, which was made without sufficient thought or research or with too much emotion and not enough logic

b) A wrong decision, which was researched and considered but was always wrong and was identifiable as wrong at the time

c) An unfortunate decision. where there was a risk which you knew about, and things just went the wrong way

d) An unlucky decision, where you did everything right but unforeseeable or unlikely things intervened

It can take courage to admit you were wrong.  Most people understand that mistakes and wrong decisions happen, and if you admit the wrong decision and do everything you can to fix it, your reputation may not be as damaged as you fear.