Term Paper on "Business Policy and Strategy: Panera Bread"
Term Paper 4 pages (1174 words) Sources: 4
[EXCERPT] . . . .
Business Policy and Strategy: Panera BreadDiscuss the Environment they Operate in as of March 27, 2012, there are 1,552 Panera bakery-cafes in 40 states and throughout Canada, which work to deliver fresh, authentic artisan bread and bakery products served in a warm environment by engaging associates (Company Overview, 2012, pp.1). In order to capture this warm environment, the most important part of the Panera business strategy is for the company to ensure that it provides a welcoming, safe, and reliable environment in which its employees and customers can work and interact. While this depiction contains the qualities of Panera's general environment, its task environment, which includes the many different ways in which the organization interacts directly and indirectly in order to achieve its overall goals of maintaining its standards of operation and quality, maintaining its customer base, maintaining a valued place amongst competitors, and most importantly, turning a profit.
As such, in order to achieve these aforementioned company goals, Panera operates under the general understanding that "Porter's Five Forces" must be adhered to in order to achieve success. Above all else, Panara operates with an understanding the considerable rivalry exists within the realm of bakeries and restaurants, but Panera has carved out a niche for itself by combining these two facets into one operation. In viewing the threat of substitute products which exists within Porter's Five Forces, the impact of such can be considered quite high as substitute products are easily accessible at home and in grocery and convenient stores. Additionally, the recent economic downturn has significantly limited
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The bargaining power of suppliers, in viewing Panera, is quite low, as Panera as a corporation has multiple options to source each ingredient they use from national distributors to local farmers. Next, is the bargaining power of buyers, which in the context of Panera is quite high. Again, with the economic downturn affecting consumer eating behaviors, the cheaper meal can be found at home. Additionally, there over 21 direct competitors and alternative eating establishments that compete with Panera, and all looking to draw in customers through pricing schemes and specials (Espire, 2010, pp.1). As such, the competitive rivalry in the industry in which Panera exists is extremely intense, but thankfully for Panera, the threat of new entrants to the market in the current economic environment is quite low, as such a high investment threshold currently exists to enter the market.
Prepare an EFAS
An external factor analysis summary (EFAS) form, accounts for the opportunities and threats that exist within an organization and weighs these factors on a scale of 1,0 to 0.0 in order to calculate these factors' probable effects on Panera's strategic position, for which the total weights for all items must sum to 1.0. Additionally, these factors are rated from 5 (outstanding) to 1 (poor) to calculate how well Panera is positioned to take advantage of the opportunity or to deflect the threat (Purdue University, 2012, pp.1). Finally, a weighted score is calculated to tell how well Panera is responding generally to the factors present in its external environment as depicted below:
External Factors
Weight
Rating
Weighted Score
comment Opportunities
Limited Competition
0.2
2
0.4
Doing well
Room to Expand
0.1
3
0.3
Doing well
Customer Satisfaction
0.1
3
0.3
Doing well
Threats
Rise of Chipotle
0.1
1
0.1
Needs improvement
Weakened Economy
0.2
3
0.6
Doing well
Increase in Wages
0.1
1
0.1
Needs improvement
Increased Food Costs
0.2… READ MORE
Quoted Instructions for "Business Policy and Strategy: Panera Bread" Assignment:
This is a group project. The group consists of 4 people. I will submit the guidelines just so you*****'ll know what kind of information will be int he report, although I am responsible for just the sections below. I will also submit a case study about the Panera Bread. You can use the case study or use some other sources for research.
-- Discuss the environment they operate in (general and task environment -- discuss Porter*****'s forces) (Opportunities and Threats),
-- Prepare an EFAS �*****" External Factor Analysis Summary,
-- Discuss their external environment (Task [industry] Environment and General [societal] Environment]). This is where *****'Opportunities*****' and *****'Threats*****' are.
-- Discuss their internal structure, their culture, and their resources. (This is really their *****'Strengths*****' and *****'Weaknesses.*****'),
*****
How to Reference "Business Policy and Strategy: Panera Bread" Term Paper in a Bibliography
“Business Policy and Strategy: Panera Bread.” A1-TermPaper.com, 2012, https://www.a1-termpaper.com/topics/essay/business-policy-strategy-panera/8719400. Accessed 28 Sep 2024.
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