Panera Bread Essay
Panera Bread Company
Mgt# 495 - CMU
Contents
Introduction
All companies must have a strategic plan. How well the strategy succeeds is based on the competitive strategy plan. A competitive strategy is defined as the “specifics of management’s game plan for competing successfully and securing a competitive advantage over rivals in the marketplace.” (Peteraf-Gamble-Thompson, 2013). In addition, a competitive strategy helps the company provide its position and advantage in the marketplace by determining two important factors: a) a broad or narrow market focus and b) low cost or product differentiation.
Case study number two is focused on Panera Bread. It was established in 1981 by entrepreneur Ronald Shaich. The company’s mission is “a load of bread in every arm. Panera has been successful with its competitive strategy that has given it an advantage over its competitors.
The Competitive Strategies
There are five generic competitive strategies: 1) overall low-cost provider strategy, 2) focused low-cost strategy, 3) broad differentiation strategy, 4) focused differentiation strategy and 5) …show more content…
Ronald, the CEO & founder, has a clear vision which has been communicated throughout the company from top to bottom. This allows all the employees to remain focused on its goals. Customer feedback is a core value for the company. They hold a strong “commitment to excellence’ as a core competence. Panera values their employees and believes in the philosophy “people work for people”. They view their intangible assets with high regard; from hiring quality workers to building trusting and good relationships; to creating a positive atmosphere and experience for the customer. Panera remains successful because they remain focused on their vision statement. It is the original statement that was written in 1994 when the bread company was
Mgt# 495 - CMU
Contents
Introduction
All companies must have a strategic plan. How well the strategy succeeds is based on the competitive strategy plan. A competitive strategy is defined as the “specifics of management’s game plan for competing successfully and securing a competitive advantage over rivals in the marketplace.” (Peteraf-Gamble-Thompson, 2013). In addition, a competitive strategy helps the company provide its position and advantage in the marketplace by determining two important factors: a) a broad or narrow market focus and b) low cost or product differentiation.
Case study number two is focused on Panera Bread. It was established in 1981 by entrepreneur Ronald Shaich. The company’s mission is “a load of bread in every arm. Panera has been successful with its competitive strategy that has given it an advantage over its competitors.
The Competitive Strategies
There are five generic competitive strategies: 1) overall low-cost provider strategy, 2) focused low-cost strategy, 3) broad differentiation strategy, 4) focused differentiation strategy and 5) …show more content…
Ronald, the CEO & founder, has a clear vision which has been communicated throughout the company from top to bottom. This allows all the employees to remain focused on its goals. Customer feedback is a core value for the company. They hold a strong “commitment to excellence’ as a core competence. Panera values their employees and believes in the philosophy “people work for people”. They view their intangible assets with high regard; from hiring quality workers to building trusting and good relationships; to creating a positive atmosphere and experience for the customer. Panera remains successful because they remain focused on their vision statement. It is the original statement that was written in 1994 when the bread company was