The purpose of providing and receiving feedback is to help people improve and become self-aware by highlighting what works and what needs improvement, and to foster critical self-reflection. Effective feedback is a dialogue that uses the CAPS method ("Compliment", "Appreciation", "Possibility", "Support") and follows tips like making it about the content rather than the person, listening, and being consistent but not instructive unless also teaching. The goal is improvement, not making people feel good.