Panera Bread Case Study Essay Example for Free

Panera Bread Case Study Essay INTRODUCTION: Panera Bread is one of the great American success stories of breaking trends, and shaking up the market with complete innovation. Not only were they successful, but they were able to achieve this success while doing things their own way. Product and Service differentiation were the keys to this bakery-cafà ©s success. Before Panera Breads creation in ___, never had a business combined the relaxing environment of a cafà © with the fresh aroma of an artisans bakery. This proved to be a gold mine for its owner and stakeholders, and the analysis of this period from 2001 to 2003 shows exactly why. In this analysis, we will examine the success factors of Panera Bread and explain why they were able to achieve some of the goals they had accomplished thus far. We will also explain some alternatives and opportunities that Panera Bread may look forward to taking advantage of in the future. Panera Breads mission was to create the bakery-cafà ©; a place the combined the welcoming atmosphere of coffee shops, the food of sandwich shops, and the quick service of fast food restaurants. They named this type of service fast-casual dining and the term fits because of the atmosphere and quality of service they were able to provide. Panera Bread targeted 5 key consumer dining needs which include the following: SITUATIONAL ANALYSIS: CURRENT SITUATION The companys revenues rose from 350.8 million to 977.1 million between 2000 and 2003 as a result of new unit expansion, with 419 stores opening between 1999 and 2003. In 2000 system wide comparison sales and annualized unit volumes increased 9.1% and 12%. The growth of these two metrics decreased in the years following with system wide comparable sales and AUVs increasing only .2% and .5%. GENERAL ENVIRONMENT The fast-casual dining market consists of those companies that seek to fill the gap between fast-food chains and full-service restaurants. These companies offer speed, efficiency, inexpensiveness, hospitality, quality and ambiance. These restaurants fall under fast casual when they offer self-service, a check between 6 and 9 dollars, slightly more expensive than fast food but cheaper than full service restaurants. Other requirements include that the food be made to order and the dà ©cor being upscale. This market of restaurants experienced significant growth between 1999 and 2003. Continued growth was expected with sales projected to reach 50 billion in the following decade. This growth was expected to come at the expense of fast food chains. The industrys growth started with high profitability and diverse dining avenues, with concepts such as Mexican, Chinese, and bakeries. Opening costs for these establishments in relation to annual sales was minimal, allowing more new players to get into the market with fresh concepts and menu items. Also the maturing of baby boomers and their children contributed largely to the growth of the fast casual market. This demographic expressed insufficient time for cooking while growing tired of fast food and desiring a high-quality, fresh, healthy dining experience, without the time consumption of a full dining restaurant. This market has effectively emerged itself into a legitimate trend in the restaurant industry. Modern day customers seek establishments that combine qualities such as a casual atmosphere, quality, and quick service. Panera Bread focuses on these aspects of their bakeries by offering breakfast, lunch, daytime chill-out, lunch in the evening and take home meals; in alignment with consumer dining  needs. The companys customer base included seniors, matinee-goers, shoppers, business professionals, and students. The company focuses on delivering high quality foods, targeting suburban dwellers and workers as a premium specialty bakery and cafà ©. Panera Bread was a pioneer in the cafà ©-bakery segment with unique concepts and operation strengths, which has led the company to its current position in the fast casual dining market. The company designed its concept in meeting the consumers needs of efficiency and the desire for high quality dining, which arent met by traditional fast food chains. The company strived to establish Panera Bread as a leading national brand, with its operation quality, real estate strategies, and design being integral to their success Each company-operated bakery had computerized cash registers to collect point of sale transaction data, used in generating marketing information. Product prices were programmed into the system from the corporate office. The companys in-store information system was designed to assist in labor scheduling and food cost management, to provide corporate and retail operation management fast access to data, and to reduce administrative time. These systems supplied data to the companys accounting department daily, enabling them to use the data to generate weekly reports on sales and other important elements. The company also monitored the average check, customer count, product mix, and other sales trends. Also, facilities had systems that allowed the dough facilities to accept electronic orders from the bakery and deliver orders to the bakeries. TASK ENVIRONMENT Employees consisted of full time associates in administrative or general positions, commissary operators, bakers, and associates at the bakeries. As of December 2003 the company had 3,924 full time associates, of whom 344 were employed in general or administrative roles principally at or from the companys support centers. The company also had 4,078 part-time hourly associates at the bakeries. The companys priority was staffing its bakeries, fresh dough facilities, and support centers with skilled associates, investing in training programs to ensure quality. The company  offered incentive programs and bonuses to salaried employees, with the addition of product discounts and employee stock options. Panera Bread believed that providing bakery-cafà © operators the opportunity to participate in the success of the company would enable the company to attract and retain highly motivated and experienced personnel, resulting in a better customer experience. The company targets mostly those individuals in urban areas, focusing on white collar workers who seek a fast and healthier alternative from fast food burgers and other common establishments of fast service. With a large focus on individuals seeking a fast, quality bakery product, the company seeks to give its target customers a stylish ambiance to dine in. Panera Breads competition derived from sources within its trade areas. The stores competed based on consumers need for breakfast, lunch, daytime, lunch in the evening, and take home bread sales with the competitive factors being location, environment, customer service, price, and quality of products. The company also competed for leased space in desirable locations where certain competitors had capital resources that exceeded those available to Panera Bread. Those primary competitors included specialty food and casual dining restaurant retailers, including national, regional, and locally owned concepts. Panera Bread had a fresh dough facility system that supplied fresh dough to the company owned and franchise operated bakeries daily. The company had 16 commissaries that prepare the fresh dough. These commissaries assured product quality and consistency, headed by the companys master artisan baker, Mile Marino, who has been with the company since 1987. The company also entered into five year contract with a company named Bunge for its supply of frozen dough. The company also signed an agreement with Dawn Food Products to prep and deliver the frozen dough; structured as a cost-plus agreement. Franchised bakerys operated under individual contracts with either the company distributor or other regional distributors, with three companies serving as the primary distributors for Panera Bread. The company has had increasing stock holders equity between 1999 and 2003, with its most recent total stockholders equity equaling 195,937 in December of 2003. Total incurred liabilities of the company equaled $46,235 in December of 2003 which made for a total liabilities and stockholders equity of $245,943  for the year. INTERNAL ANALYSIS The company strategy centered around a conceptual focus on the specialty bakery category with a focus on artisan attention bread made with all-natural ingredients. The strategies implemented by the company focus on meeting the important consumer trends met by fast food chains, while striving for a more upscale environment. In an effort to make Panera Bread emerge into a nationally dominant name, the company framed its menu, operating systems, prototype, and strategies around effective competition within sub-level business targets. This helped to company to increase profits between 2002 and 2003. The unique character of Panera Breads quality in its cafà ©s, menu options, distinguished bakery design, along with the valuable locations of its stores contributed to its success. The company planned to combine company and franchise efforts in order to achieve its growth. Franchising proved to be a key factor in the companys success, allowing the company to expand more rapidly due to increa sed resources to outfit the strategies and concepts produced by Panera. At the closing of the 2003 fiscal year, the company had 429 bakeries in operation and documented intention of opening an addition 409 bakeries. The company has 8 key executive officers with extensive experience, both with Panera Bread and also with other major corporations and organizations including Starbucks, Fidelity Investments, and other companies. All of these officers obtained their position with Panera between 1999 and 2003. The company derives its culture from the pre-existing chains of fast food and full service dine-ins. In an effort to supply consumers with a third option that combined the attributes of both of these markets, the company, through many stages of conception, effectively identified a niche within urban consumers. The company pioneered a new market segment of food service trends and through constant growth and innovation has built a successful company. The company is structured with top management and board executives establishing and updating views goals and visions for the growth and target of the restaurant chain. The company has both corporate and franchise operated bakerys that adhere to the vision and direction of company management and consumer trends. STRATEGY FORMATION: Panera Bread has maintained its business strategy over its lifespan and they continue to employ a product/service differentiation strategy to sustain their competitive advantage as a fast-casual dining experience. This strategy has enabled them to grow very swiftly over the past 15-20 years and has given them a substantial hold on the market for fast-casual dining. Panera Breads decision to employ this differentiation strategy correctly, gives them the best opportunity to succeed for their target market. They are in a market where there are many ways to differentiate the products and services they provide. Buyers often perceive these differences as the product/service having value. Fortunately, few rival firms are following this distinct differentiation approach. Ron Schaich and his team were correct when concluding that this differentiation strategy would attract patrons which gave Panera Bread every reason to employ this strategy. To differentiate themselves from the likes of McDonalds, Burger King, or Pizza Hut; they focused on an extremely high quality of food products. This played into their game plan of becoming a specialty cafe and they continued to choose the best and most natural ingredients for their products. Every loaf of bread is baked with the four ingredients, water, natural yeast, flour and salt, no chemicals or preservatives are ever used. Another practice they employ to provide first class products is within their supply chain. To provide fresh dough to their locations every day, they have many regional fresh dough facilities. These facilities would go through a 48 hour process to prepare bread and bagel dough for shipment, which provides consistent quality and efficiency to all the locations. Panera Bread also found that many customers were more health conscious which prompted them to introduce a full line of whole grain breads. Other improvements that they instituted included new artisan sweet goods, egg soufflà ©s and natural anti-biotic free chicken all to meet the customers ever changing preferences. These are the practices upon which Panera Bread has continued to provide an exceptional distinct product line to its customers in hopes of sustaining a competitive advantage. Panera has also implemented change in other areas to provide their customers with a differentiated service experience. They have employed a cafe design which created one of the most comfortable and warm environments to dine in. This has been very successful for their strategy of distinguishing themselves and their offerings to customers. Like Starbucks, they wanted to create an environment in which consumers would identify Panera Bread as a neighborhood meeting place. As a result, patrons would continuously use a Panera Bread location for all sorts of gatherings whether they are for business or pleasure. One of the greatest benefits that Panera Bread provides to its customers is free wireless high-speed internet and since they were one of the first to do so, this created a competitive advantage for them. The fast-casual dining industry is generally a new concept. At this point, Panera needs to sustain its leadership and competitive advantage in this industry to continue to grow and fend off competitors. One of the best defensive strategies that they can employ is the leverage gained by economies of scale. With these economies they can continue to offer their products on their terms, which give them an advantage over the competition. This in turn gives them more control over the market and the suppliers in this industry. Here they can block avenues for current competitors as well as new entrants. If they can continue to stay on the top of the industry they can continue to employ this defensive strategy. One of the main reasons that Panera Bread is relevant is because of its size. At this point they are one of the largest fast-casual dining businesses and they use this size to stimulate further growth. Continuing to grow gives them the opportunity to generate more revenue if executed well with the right buyers. Revenue is always a great reason for expansion and Panera Bread knows this. They are one of the best in the restaurant industry at recognizing shifts in consumer preferences and being able to make the proper adjustments to satisfy their customers. This is crucial especially in todays world where change is continuous and rapid. As Panera Bread consistently strives to be a leader in product and environmental offerings,  its crucial that they continue to be aware of and progress along with the changing world. Even though they can employ some of these strategies in the future, they cant lose track of their business model for fast-casual dining restaurants in the process. Though Panera Bread has been very successful during this period, there are some strategies which they can enact to stimulate a growth in profits. Unfortunately, with each benefit from an alternative there is always a cost that Panera Bread may or may not be willing to incur. Firstly, Panera Bread could try to vertically integrate their products. This would call for them to pre-pack some of their bread and sandwich products and sell them in local grocery chains across the United States. This strategy would make their products more accessible to the general public even where there are no Panera Bread cafà ©-bakeries nearby. One of the key risks with strategy would be the possibility that product quality would diminish because the products are not being made fresh within the actual bakeries. The second strategic alternative would be the use of mini cafes within retail stores. This strategy has already been implemented by Starbucks with their mini cafes inside of Target retail stores. This would also make the products more accessible to the general public, thus giving Panera Bread more exposure. This strategy would require Panera Bread to train managers within the retail store to be able to handle the proper preparation of their products. Lastly, the third alternative would be acquiring local cafes and transforming them into new cafà ©-bakery locations. This strategy would essentially eliminate competition and create new areas where these products can be accessed. On the other hand, if Panera Bread is unable to conduct full takeovers, there is a risk that they could lose some of the authenticity of their products/services.

Crisis in Software Patents and Copyrights Essay -- Intellectual Proper

Crisis in Software Patents and Copyrights Introduction Gaining the knowledge and skills to provide computer technology products, services and software requires a significant amount investment of both time and money. The individuals who do such a work should receive financial rewards for their efforts. These rewards create an atmosphere of creativity and competitiveness that becomes a driving force of the economy of the world. The products of this creativity must therefore be protected and we call it intellectual property. Simply, intellectual property is a product of human intellect that has a commercial value. There are three major mechanisms that US law offers to protect software intellectual properties. These are trade secrets, copyrights and patents. Trade secrets have broad applicability to various subjects that can range from microprocessors to sorting algorithms. Trade secrets are valuable because they are separate from patents and copyrights, and even can be available when copyright or patent rights are not. The basic premises of trade secrets are satisfied when knowledge is kept in secret and not commonly known. Copyrights protect all types of original creative expressions that are produced by programmers. Copyright law does not protect the ideas and concepts underlying an expressive work. It only protects the literal form that the expressive work takes. Patent law gives the inventor of a new and non-obvious invention the exclusive right to use that invention for a limited term. Patent protection offers the broadest protection for technological industry. A software patent protects against unauthorized use or sale of software that is defined as an invention. In order to obtain a patent, the inventor is ... ...pers haunted by Patent madness† 5 The British philosopher who developed a duty-based ethical (deontological) theory 6 Arnold W.Bragg. Software Patents 7 National Research Council. The Digital Dilemma. References: Deborah G.Johnson and Helen Nissenbaum. Computers Ethical & Social Values Prentice-Hall, NJ, 1995 Kallman & Grillo. Ethical Decision Making and Information Technology, Mitchell McGraw-Hill, CA, 1993 National Research Council. The Digital Dilemma, National Academy Press, DC, 2000 Richard W.Severson. The principle of Information Ethics, M.E.Sharpe,Inc, 1997 IEEE Software. Karl Dakin, What if there is no software piracy? January 1997 IEEE Software. Gregory Ahoronian. Does the Patent Office respect the software community? July/August. 1999 IEEE IT Professional. Arnold W.Bragg. Software Patents. July/August 2001

Character Motivations in Antigone Essay

The main characters in Sophocles’ drama, Antigone, are Antigone herself, the play’s tragic heroine and Antigone’s uncle and King of Thebes, Creon. Both characters are ruled by powerful motivations and beliefs; however, they differ from one character to the next. Antigone’s motivation is love for her family- she puts it above all else. In fact, she is willing to sacrifice her life to defend that love. Antigone goes to great lengths to bury her deceased brother, who according to an edict issued by King Creon, died in dishonor, consequently making it illegal for anyone to bury his body. Through her actions to comply with her motivations, it is revealed that Antigone’s actions are also fueled by her strong beliefs that, first, the gods’ laws are more powerful than any law made by man, and second, that it is better to die a heroic death than a cowardly one. Throughout the play, Antigone stands firm on these beliefs by standing up for them even through her death as demonstrated through the following dialogue in which she admits her crime, and voices her beliefs to Creon; â€Å"It was not Zeus who published this decree, nor have the powers who rule among the dead imposed such laws as this upon mankind; nor could I think that a decree of yours- A man- could override the laws of heaven unwritten and unchanging†¦For me to meet this doom (death) is little grief; But when my mother’s son lay dead, had I neglected him and left him there unburied, That would have caused me grief; this causes me none† (437-459). This scene illustrates the essence of Antigone’s character. She’s defending her â€Å"crime† of burying her brother, thus demonstrating that she is motivated by the love that she has for her family. She’s further justifying her act by stating that Creon’s law is not the law that she feels she must adhere to- she follows the gods laws, another one of her guiding beliefs, and finally, she’s not only accepting her impending doom, but actually welcoming it because she’s dying defending her beliefs, therefore dying a heroic death rather than dying in cowardice. On the other hand, Creon is also motivated by love; however, his love is love for his country, rather than his family. He puts country above all else, including his family- he’s willing to do whatever he needs to do to make sure that Thebes remains powerful. In order to achieve this goal he demands loyalty from his subjects, once again, family included; he rules by intimidation, and is very proud. In fact, pride is another one of his major motivations. For these reasons, his character is a feared leader. First of all, the fact that he issues that his nephew cannot be buried shows that- one, he demands loyalty, even over loyalty to the gods, and two, he defends his country over his family. He continues displaying his beliefs when he doesn’t revoke the edict even after his wife, and niece clearly disagree with it. Creon’s pride continues to take precedent when he begins falsely accusing his subjects, and acting rashly with little thought. Creon’s character, while a complex character is strongly represented in much of his dialogue, perhaps this passage of dialogue between Creon and the prophet Teiresias best captures his essence. â€Å"Sir, all of you, like bowmen at a target, let fly your shafts at me. Now they have turned even diviners on me! By that tribe I am bought and sold and stowed away on board. Go, make your profits, drive your trade in Lydian silver or in Indian gold, but him you shall not bury in a tomb, no, not though Zeus’ own eagles eat the corpse and bear the carrion to their master’s throne: Not even so, for fear of that defilement, will I permit his burial-for well I know that mortal man cannot defile the gods† (994-1006). Through this single quote, Creon demonstrates all of his predominate qualities; he’s accusing Teiresias of bribery, therefore, acting before thinking, he won’t repeal his edict even though he admits that the edict does defy Zeus, thus illustrating his pride. He likes being in power of a powerful state, so much so that he is blind to his own pride, and is fine with ruling by intimidation and demanding loyalty from his subjects.

The Great Depression Was One Of America Crucial Time For

The Great Depression was one of America crucial time for unemployment’s, banks failed, and many family suffered in this era. Great Depression lasted 10 years from 1929 to 1939 it was the worst economic upset in the history of the industrialized world. It started off on â€Å"Black Thursday† investor and traders sold 12.9 million of stock in one day which ended up triple the usual amount and the next couple of days’ stock prices dropped 23 percent which was called the stock market crash of 1929. This began when the stock market crashed in October 1929, by this it sent Wall Street into panic and eliminated millions of investors. As years went, many consumer’s spender and investors dropped cause steep declines in the industrial and employment as†¦show more content†¦One of the consequence of tariff was the trade between countries was less between United States and many foreign countries. Plus, the countries retaliated economically against the United States. Another reason is the conditions the farmers and unemployed lived during the Great Depression for example the depression cause farmers to lose their property and farms. This event happened in the Mississippi Valley in 1930 such proportions that many couldn’t pay their taxes and other debts so they had to sell their farms so for that no profit to themselves. During that time, the Midwest was overcultivation and a dry creating the â€Å"Dust Bowl†. The agriculture ended in previous fertile region and thousands of farmers and many unemployed worker went to California to look for work in California by this many ended up homeless. In this paragraph, Frank Roosevelt was a great influence on helping the economy for the Americans during the great depression. One of his great influence to bring back to the confidence for people to go back to the bank was the â€Å"New Deal† which he planned to by relief, recovery and reform. The first one hundred days the legislative passed a law which is known as â€Å"Bank Holiday† which he implied an entire week of March 1933 that all banks transactions were to suspend in the effort to stem banks failures toShow MoreRelatedThe Great Depression : The Fall Of A Nation1701 Words   |  7 PagesII 3 March 2015 The Great Depression: The Fall of a Nation The Great Depression was a hard time for America. The name fits like a glove because it was, in fact a depression. The Great Depression was crucial to American history because it changed every aspect of American life, revealed how big a power America was, and it established multiple government agencies around the world to make sure something like it never happens again. The economy was at a highpoint in 1929. It was easier for people toRead MoreThe Evolution Of The Education1566 Words   |  7 PagesMichael May Mr. Hoelzle Academic Writing 4 January 2015 Major Research Paper The Evolution of Education in America Education plays the most crucial role in the quality of life any person will ever live. Before a set structure, or a standard of education was made, education was not considered a necessity. Once the importance of education was established and more people began attending school, the race to a higher education became more intense than ever. People even began saving up to send their childrenRead MoreThe Great Depression Of Franklin D. Roosevelt1616 Words   |  7 Pagesliving, America thought it was on top of the world and living the good life all until it underwent the catastrophic period commonly known as the Great Depression. Beginning around the 1930s, the Great Depression is probably one of the most significant economic downfalls in America that also ended up affecting the global economy. Around 1933, about 14 millions American citizens saw unemployment, the national income was over 50 percent down, and production of industrial goods dropped to one third ofRead MoreJazz Music1079 Words   |  5 Pagescurrent styles of the time such as ragtime and rhythm and blues, Jazz can be seen as an amalgamation of different cultures and has had huge influences on, and evolved concurrently with, American society in the past century. The birthplace of jazz is the subject of much more controversy than its undoubted influence on society. The most commonly reported and, in my view, logical birthplace of jazz is New Orleans. Being a port city (with people migrating from all over the world), it was a melting pot ofRead MoreThe Rise Of The Great Depression1407 Words   |  6 Pages America’s economy was experiencing economic prosperity, growth, and success in the 1920s until October 1929—when reality struck Americans with a collapsing stock market. The confidence of Americans in an unfailing business system suddenly deteriorated and caused many to terminate involvement in any type of investment, business, or banking activity. This event and other factors contributed to the prevalence of the Great Depression. During this period of an economic recession, most Americans wereRead MoreEssay on Effects of the Great Depression1418 Words   |  6 PagesEffects of the Great Depression The Great Depression was a horrible event that took place almost 100 years ago. It was a time in our society when people had no money and no food. Everyone was losing their jobs because the companies couldn’t afford to pay them and stay in business at the same time. After the Stock Market crashed and the economy went downhill, a lot of changes were made within the government to make sure that nothing like this would ever happen again. This period in time was a sad periodRead MoreThe New Deal : A Success At Tackling The American Economic And Social Problems During The 1930 S1226 Words   |  5 Pages1939, America was set with new government programs established by President Franklin Delano Roosevelt. Within Roosevelt’s first Hundred Days, he established a plan that would bring America out of crisis. This program was called, The New Deal, and had three goals: relief, recovery, and reform. This goals, the 3 R’s were short-ran goals for relief and immediate recove ry, as well as, long-term goals for permanent recovery and reform. Ultimately, the main goal of the New Deal was to bring America out ofRead MoreThe Great Depression And The Roaring Twenties1614 Words   |  7 Pagesbecame more powerful following World War I. This decade proved to be one of the most exciting times for America. So what caused the 1930’s to differ so much from the 1920s? The Great Depression ultimately destroyed everything the 1920s had achieved, leaving behind a trail of anguish and uncertainty for years to come. Following the First World War, Industries began to mass-produce their products at an increasing rate. Employment was thriving because of supply and demand and Americans were able to purchaseRead MoreThe Great Depression Of 19291473 Words   |  6 PagesThe first economic collapse of its magnitude, the Great Depression of 1929, produced devastating effects with lasting longevity. Though born in America, it maintained its origin and spread rapidly throughout the industrial world. The election of President Franklin D. Roosevelt brought upon changes that improved America’s overall economic situation. A new leader’s viewpoint along with The New Deal and its reform programs, and a second World War improved the conditions brought about by the economicRead MoreAp Us History Fdr Dbq1172 Words   |  5 Pagesdownfall. Hoover created a laissez-faire government; the government was not involved in everyday business, instead it was a very hands off approach and daily life just too k its path. When Franklin D. Roosevelt became president in 1933 the economy was now deep in a huge downward spiral, and he raised a new Democratic approach to run the government and United States. The United States was in for a lot of reform movements being that a Democrat was president, and something needed to be done to prevent the status