A businessman from time to time is almost compelled, in the interests of his company or himself, to practice some form of deception when negotiating with customer, dealers, labor unions, government officials, or even other departments in their own companies.
By knowingly giving misinformation and hiding important facts – in short, by bluffing – he tries to persuade others to agree with him. I think it is fair to say that if the individual executive refuses to bluff from time to time – if he feels obliged to tell the truth, the whole truth and nothing but the truth – he is ignoring opportunities permitted under the rules and is at a heavy disadvantage in his business dealings.