Read the following scenario and then, based on the role your team has been assigned by your instructor and the preparation time allowed, develop a negotiating strategy, including your bargaining zone that you think will enable you to reach a fair and reasonable outcome for all parties. Before coming to the bargaining table, pick a chief negotiator for your team. Negotiate a settlement.

Scenario 

ABC manufacturing is a large multinational machinery and heavy equipment manufacturer. The last two years have been very difficult, with more competition coming from offshore companies whose labour costs are much lower than those in Canada. The company is losing money and is considering whether to lay off workers in one or more of its Canadian plants, perhaps opening a new plant in Mexico or somewhere else in Central America. The union contract is up and negotiations will begin soon.