One strategy within the negotiation world is called win-win and win-loose negotiating. Both offer benefits and consequences. It is important to understand the undertones of these styles to use each accordingly.
Win-win negotiation implies that both parties will gain something from the interaction. This means that not only both parties gain something tangible such as a car or money, but it implies that both parties gain a sense of contentment from the negotiation. Both parties must be relatively happy with the outcome for the deal to be a win-win. For example if I negotiate for a house a win-win would imply both I and the seller get a fair market amount for the house. The benefit to using win-win style negotiation is future deals will be easier as there is a positive rapport between both parties. Win-Win is useful to use when you foresee yourself conducting business with the other party in the future. If you rip someone off, or neglect to share pertinent information about a deal, you could find yourself burning bridges with the other party.
Win-loose negotiation implies that one party is pleased while the other party is upset. Win-loose negotiation will likely sever future ties with the other party; this could come back to bite you in the ass. Win-loose is appropriate if you know you will never be engaging in business with the other party ever again. An example of win-loose negotiation could be selling a product to a naive individual for well over market value. Another example is selling a car with a bad transmission(without disclosing information) to someone for the price of a car with a good transmission. Win-loose obviously carries the benefit of providing you a great financial gain, but it also hinders future business with the other party.
Use these when appropriate
Use both win-win and win-loose when you see fit. In business earning profit is the goal, so many businessmen have no problem with win-loose if they finds the situation fitting. Ethical issues, such as not disclosing information relative to the deal(e.g. bad transmission) is a whole other topic and I will publish an article pertaining to it. There are mixed opinions on it but many legendary negotiators do promote only disclosing what is legally required and hiding information that could hinder a deal. Thanks for reading. Comment below if you have any experience with negotiations. Comment if you would like to me to address something in particular.