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Panera Bread Essay

4780 words - 20 pages

Panera Bread Company’s Vision and Mission Statement
During 1999, Panera Bread sold the Au Bon restaurants and began focusing solely on the growth of the Panera Bread restaurants. As the company attempted to expand their operations across North America, their vision and mission statement became an even larger part of the operations. However, the statement is vague and offers little guidance to the employees of the company. “A loaf of bread in every arm” is not only next to impossible to achieve, but it also lacks specifics as to how the employees are to accomplish the company’s goals. In an attempt to clarify the statement, the company issued its “bread leadership goal,” which states “With ...view middle of the document...

, Inc. Founded by Louis Kane and Ron Shaich, the company prospered along the east coast of the United States and internationally throughout the 1980s and 1990s and became the dominant operator within the bakery-cafe category. In 1993, Saint Louis Bread Co. was purchased. A team of managers then spent a great deal of time traveling the country and studying the market for fast food and quick-service meals. Additionally, top management at Au Bon Pain instituted a comprehensive overhaul of the newly acquired Saint Louis Bread locations. They altered the menu and the dining experience. The vision was to create a specialty café anchored by an authentic, fresh dough, artisan bakery, and upscale, quick-service menu selections. In 1997, the Saint Louis Bread bakery-cafes were renamed Panera Bread in all markets outside St. Louis. By now, it was obvious that Panera Bread had the potential to become one of the leading brands in the nation. In order for Panera Bread to become the leading brand, it would require all of the company's financial and management resources. Ron Shaich convinced the Au Bon Pain board of directors that the best course of action was for the company to go exclusively with the Panera Bread concept. In 1998, the company announced the sale of Au Bon Pain bakery-café for $73 million to ABP Corp. With this sale, the company changed its name to Panera Bread Company. The restructured company had 180 Saint Louis and Panera Bread bakery-cafes and a debt free balance sheet. The company continued to grow and franchise. In 2007, Panera Bread purchased a 51 percent interest in Paradise Bakery & Café. By 2009, Panera purchased the remaining interest and expanded to Canada. In May 2010, William Moreton, Panera’s executive vice president and co-chief operating officer, was appointed president and CEO. Ron Shaich, who was Panera president and CEO since 1994, has to transition to the role of executive chairman of the board. However, on March 15, 2012, the company announced that Moreton and Shaich would become co-CEOs.

The Strategy of Panera Bread
In 2012, Panera Bread’s strategy was geared toward expanding the operations and improving the quality of the dining experience for their customers. The company focused on expanding their operations through company-owned locations as well as franchising. The use of franchising operations helped the company obtain the desired growth and increased the profitability of the company. Franchise owners were not allowed to open a single store, but were required to open several locations within a given time period of six years. The franchise and royalty fees that are required from the franchise owners have helped contribute to the financial growth of the company.
Panera Bread is pursuing a focused differentiation strategy that allows the company to concentrate on a market niche that desires a quick and high quality dining experience that Panera’s competitors cannot match. Through this strategy, Panera Bread...

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