Definition And Scope Of Relationship Marketing Marketing Essay

Definition And Scope Of Relationship Marketing Essay This part intends to assess the hypothetical assessments of various scholar towards relationship promoting (RM) in light of the targets of deciding the definition and extent of RM just as understanding the various determinants and methodologies utilized in RM and understanding current scholastic and mechanical perspectives and conclusions on the qualities and viability of RM. 2.1 Definition and extent of Relationship Marketing Relationship Marketing (RM) has been characterized by different scholars and each has given their separate perspectives about RM. So as to rearrange and comprehend RM, an examination by Palmatier (2008) of some notable definitions by different scholars is shown to limit and get the quintessence of what is RM. The examination depends on two key angles found in RM (for example Gronroos 1997; Sheth and Parvatiyar 2000). The main viewpoint manages methodologies across phases of the relationship lifecycle and along these lines recommends that a relationship is a procedure that creates after some time through run of the mill systems (Dwyer and Oh 1987; Wilson 1995). The subsequent viewpoint is the extent of RM exercises; as certain definitions just incorporate client connections, and others incorporate associations with various partners, for example, interior offices, contenders, clients and providers. The table beneath shows the normal RM definitions by various scholars and distinguishes the stages the separate definitions spread just as the extent of the definition. Definition Stages/Strategies Extension Draw in/Create/Establish Improve/Develop Keep up Clients as it were Partners Pulling in, keeping up, and improving client connections. Berry (1983, p. 25) RM alludes to all showcasing exercises coordinated toward building up, creating, and keeping up effective social associations. Morgan and Hunt (1994, p. 22) To set up, keep up, upgrade associations with clients and different partners, at a benefit, so the goals of all gatherings included are met, where this is finished by shared trade and satisfaction of guarantees. Gronroos (1997, p. 407) In view of union of 26 meanings of RM: association occupied with proactively making, creating and keeping up submitted, intelligent and gainful trades with chosen clients [partners] after some time. Harker (1999,p. 16) RM is the progressing procedure of taking part in helpful and communitarian exercises and projects with prompt and end-client clients to make and improve shared financial incentive at decreased expense. Sheth and Parvatiyar (2000,p. 9) RM is a way of thinking of working together, a vital direction that centers around keeping and improving current clients, as opposed to procuring new clients. Zeithaml and Bitner (2000) As outlined above in the table all definitions barring Sheths and Parvatiyars have secured all the relationship lifecycle stages in their individual meanings of RM which are:- Building up, is the phase of RM or showcasing procedure of publicizing and drawing in new clients towards a brand or item, Little Marandi (2003). Improving is the procedure separating from contenders contributions where progressively appealing offers and advantages are offered to clients (for example deals and value drops), Coyles Gokey (2002). Keeping up is the additional exertion taken by venders to hold and guarantee that their current clients acquire ceaseless advantages from the item or administration they bring to the table (for example dependability scemes), Morgan Hunt (1994). Morgan, Hunt and Gronroos have disclosed RM to cover the extent of clients as well as different partners too; anyway the extent of RM in this examination study will just think about clients. Subsequently the investigation of RM definition proposed for this examination study is RM is a persistent promoting action which includes setting up, improving and keeping up clients dependability towards a specific item or administration that is being offered by the merchant in question. 2.1.1 Relationship Lifecycle The relationship lifecycle comprises of the various stages (building up, upgrading and keeping up) as previously mentioned in the meanings of RM. Different RM scholars, for example, (Kotler, 2000; Jap Ganesan, 2000; White, 2000; Zineldin, 1996) outlined the relationship lifecycle as per the particular stages and meanings of RM. In this way the relationship lifecycle contrasts with extra stages in certain RM lifecycles by various scholars of RM (Little and Marandi, (2003: 69)). A reasonable relationship lifecycle as indicated by the pleasing meaning of RM for this exploration study is shown beneath:- Figure 1 Relationship Lifecycle Source: Adapted from Little Marandi (2003) Relationship Marketing Management. The cycle above outlines up to the phase of keeping up a client relationship. Anyway a few definitions for instance White (2000) Jap; Ganesan (2000) propose that relationship lifecycle decreases after the looking after stage. Morgan Hunt (1994) contended that, because of lack of regard in dealing with the relationship it might decrease yet there is likewise a chance of the connection between the purchaser and vender staying steady, in situations where clients are consistently remunerated for their dedication towards a specific organization or keep on seeing worth, (Morgan and Hunt (1994:22); Little Marandi (2003:70)). 2.1.2 Understanding Perceived Value Baines, Fill and Page (2008) clarifies esteem is the clients gauge of the degree to which an item or administration can fulfill their need. Clients decide an items esteem by considering elective arrangements and the expenses related with fulfilling their need. For instance if a client is to buy a shower gel, there will be numerous options of procurement, anyway a client will looked over a merchant that gives extra an incentive to its item, for instance a 20% additional measure of the shower gel at a similar cost. Increased the value of an item, for example, a decent cost, uncommon offers, and great client support will prompt high consumer loyalty, (Baines, Fill and Page (2008:672)). History of Relationship Marketing Exploration on the historical backdrop of showcasing propose that promoting rose in the start of the twentieth century, anyway there is no proof with respect to when the hypothesis of advertising really rose. During the modern age, trade happened in the nearby markets, where ranchers and craftspeople (makers) sold their items straightforwardly to end clients. Makers spoke to the two makers and retailers, and installed connections among makers and buyers gave the trust and business standards important to lead the exchange since scarcely any systematized insurances existed, (Palmatier (2008:8)). Gronroos (1994) contends that RM is a change in perspective in promoting from the past idea of the showcasing blend and the Four Ps of advertising (item, value, place) which was acquainted with the scholarly world during the 1950s by Neil Bordan. Groonroos likewise expresses that the advertising blend is a rundown of showcasing factors that has become out of date along these lines the promoting scholarly once in a while offers extra Ps to the rundown, subsequently this demonstrates the advertising blend is extremely restricted. Kind of Model Scholar (Year) Degree 4Ps McCarthy (1960) Item, Price, Promotion, Place 5Ps Judd (1987) Item, Price, Promotion, Place, People 6Ps Kotler (1984) Item, Price, Promotion, Place, Political force, Public viewpoint 7Ps Blasts Bitner (1981) Item, Price, Promotion, Place, Participants, Physical proof, Process Source: Gummesson, E. (1994) Making Relationship Marketing Operational, International Journal of Service Industry Management. The adjustments in the promoting condition and the different components that added to client complexity are; globalization internationalization of business sectors; ceaseless advancement of innovation; expanding brand intensity among clients and discontinuity of media, Little Marandi, (2003). These variables have contributed a hole in the market which turned into a requirement for another way to deal with hold clients, to pick up their devotion and to build up serious methodology. Along these lines Gronroos (1994) states that RM can be supposed to be a developed technique to the promoting blend approach, which helps with getting reasonable upper hand and hold clients over the long haul. Anyway there is no proof to when it was really executed however research by Palmatier (2008) recommend that RM developed as a different scholarly space of advertising during the 1980s and it turned out to be increasingly intelligible during the 1990s from a verifiable point of view. Among the individu als who were contributory in building up the idea of RM were Evert Gummesson at Stockholm University and Christian Gronroos at the Swedish School of Economics in the mid 1980s (Gronroos (1994;4); Little Marandi (2003;11); Palmatier (2008;9). Adequacy of Relationship Marketing Numerous scholars have explored regarding the matter and made various decisions on the viability of RM, some of whom are Reichheld (1996) who contends that the littlest endeavors in client upkeep can expand organization benefit since it costs less to serve long haul clients; faithful clients will follow through on cost premium just as produce informal proposals to other expected clients. An investigation by Reinartz and Kumar (2000) claims that unwavering clients cost less to serve and are typically ready to pay more for item assortments than non-steadfast clients, just as went about as informal advertisers for the organization. While McKenna (1993) claims that drawn out client connections helps increasing upper hand which prompts higher lifetime benefit for firms. Correspondence of RM with other advertising ideas RM shares a few likenesses with other promoting ideas, for example, client relationship the executives (CRM) and brand value. Williams (2006) characterized CRM as a data industry term for programming, and Internet capa

Plp- Bings Competitive Advantages Free Essays

â€Å"Bing† it on Google Introduction Mark Penn is taking a major jump by leaving his firm to work for Microsoft set for fix Bing. The organization is confronted with turning into a serious innovator in the internet searcher territory. Penn accepts he can enter Microsoft with an alternate procedure. We will compose a custom exposition test on Plp-Bings Competitive Advantages or then again any comparable point just for you Request Now To improve Bing, Penn accepts he needs Stack Ranking, which centers item designers from getting industry-driving items to advertise quicker than the opposition. As per the article, excluding the promoting or the billions of dollars put into Bing, Google represented 69% of the quests in June alone. They express the key procedure to turn this organization around is concocted a methodology that would make Bing an alternate sort of web search tool contrasted with Google. Examination As expressed above, Microsoft is attempting to take the main spot for the most utilized internet searcher. An upper hand can be characterized as a firm’s capacity to make an incentive such that its opponents can't. Microsoft and Yahoo! presented Bing in 2009, which permits clients to look for data in regards to nearly anything. While being acquainted with everybody in 2009 other web indexes were accessible. Bing’s upper hand over the others was that Bing offered subcategories onto the natural query items, permitting the client to rapidly observe the indexed lists in intelligent gatherings. This is an issue for Bing in light of the fact that they are by all account not the only organization that offers these kinds of web index results and not, at this point have an upper hand in the market on this premise. Another bit of leeway with Bing, you get â€Å"enhanced results† which can likewise be taken as astutely sorted out outcomes that you can get rapidly and proficiently. As a result of these upgraded outcomes, numerous individuals decided to utilize the Bing web search tool over Google however as of late, other web crawlers have put a more prominent accentuation on their speed and results and are bypassing Bing. In the event that Bing despite everything had any upper hand, it would be that it offers upgraded brings about web indexes, anyway it has been demonstrated for most organizations that utilization other competitors’ web crawlers their speed and results are adequate and they lean toward them to Bing. This is clear which expressed before that 69% of the internet searcher clients picked Google over the 25. 6% for Bing. What hurt the Microsoft Company is that Bing was doing so ineffectively to the point they offered Penn a situation to help â€Å"fix† Bing. This could represent the moment of truth Bing seeing whether Penn can separate this web index contrasted with the others. This will be hard for Penn seeing that he needs web crawler item advancement skill. Regardless of how fast this web index is or how well the outcomes are, if Penn doesn't figure out how to improve Bings piece of the pie this will be only a craze that the Microsoft has experienced and Google will keep progressing nicely. Ends To be fruitful in any market you should have the option to contend and this is the place Bing misses the mark. So as to make this web index increasingly fruitful Microsoft needs to concoct a progressively adequate business procedure. They have to make sense of where they best fit in and separate themselves from different organizations. They additionally need to make sense of their objectives, and destinations, which will make it simpler for them to focus on their clients. If they somehow happened to apply their business to the VRINE model, they would rapidly see that their web index is replaceable and has no approaches to set their company’s web crawlers separated from others. I accept they are making the correct strides by attempting to offer various choices on their site yet I figure they should accomplish more since they don't offer a similar sort of connections that Google does, for example, Gmail or Google Maps. I imagine that while Mark Penn is concentrating on making Bing better in the piece of the pie territory and the remainder of Microsoft the board needs to put a solid spotlight on discovering trend-setters that can help Bing become a significant contender by and by. Title-Can Mark Penn Fix Microsoft’s Bing? Date-7/23/2012 Website-http://www. forbes. com/locales/petercohan/2012/07/23/can-stamp penn-fix-microsofts-bing/2/Citation-Cohan, Peter. â€Å"Can Mark Penn Fix Microsoft’s Bing? † Forbes. Forbes Magazine, 23 July 2012. Web. 09 Nov. 2012. . Step by step instructions to refer to Plp-Bings Competitive Advantages, Papers

Types of Rhyme

Sorts of Rhyme Sorts of Rhyme Sorts of Rhyme By Simon Kewin The artist who wishes to compose a rhyming sonnet has a few unique sorts of rhyme from which to pick. Some are solid, some increasingly inconspicuous, and all can be utilized as the artist sees fit. Coming up next are a portion of the fundamental sorts : †¨Ã¢ End Rhymes Rhyming of the last expressions of lines in a sonnet. The accompanying, for instance, is from Seamus Heaney’s Digging :       Under my window, a perfect scratching sound       When the spade sinks into gravelly groundâ †¨Ã¢ Inside Rhymes Rhyming of two words inside a similar line of verse. The accompanying, for instance, is from Edgar Allan Poe’s The Raven :       Once upon a 12 PM horrid, while I considered, frail and exhausted,       Over numerous an interesting and inquisitive volume of overlooked lore,â †¨Ã¢ Inclination Rhymes (in some cases called flawed, incomplete, close, slanted, off and so forth.) Rhyme in which two words share only a vowel (sound similarity †for example â€Å"heart† and â€Å"star†) or in which they share only a consonant sound (consonance †for example â€Å"milk† and â€Å"walk†). Inclination rhyme is a method maybe more on top of the vulnerabilities of the cutting edge age than solid rhyme. The accompanying model is likewise from Seamus Heaney’s Digging :       Between my finger and my thumb       The squat pen rests; cozy as a gunâ †¨Ã¢ Rich Rhymes Rhyme utilizing two unique words that happen to sound the equivalent (for example homonyms) †for instance â€Å"raise† and â€Å"raze†. The accompanying model †a triple rich rhyme †is from Thomas Hood’s A First Attempt in Rhyme :       Partake the fire divine that consumes,       In Milton, Pope, and Scottish Burns,       Who sang his local braes and burns.â †¨Ã¢ Eye Rhymes Rhyme on words that appear to be identical however which are really articulated distinctively †for instance â€Å"bough† and â€Å"rough†. The initial four lines of Shakespeare’s Sonnet 18, for instance, go :       Shall I contrast thee with a summers day?       Thou workmanship all the more dazzling and progressively mild:       Rough winds do shake the dear buds of May,       And summers rent hath very short a date:â Here, â€Å"temperate† and â€Å"date† look as if they rhyme, however scarcely any perusers would articulate â€Å"temperate† with the goal that they did. Be careful that articulations can float after some time and that rhymes can wind up as eye rhymes when they were initially full (and bad habit versa).â †¨Ã¢ Indistinguishable Rhymes Essentially utilizing a similar word twice. A model is in (a few adaptations of) Emily Dickinsons Because I Could not Stop for Death :       We delayed before a House that appeared       A Swelling of the Ground-       The Roof was hardly obvious       The Cornice-in the Ground- †¨Ã¢ It’s clear there is regularly a specific measure of cover among rhyme and other poetical gadgets, for example, sound similarity †subjects to be canvassed in future verse composing tips. Need to improve your English in a short time a day? Get a membership and begin accepting our composing tips and activities every day! Continue learning! Peruse the Freelance Writing classification, check our famous posts, or pick a related post below:85 Synonyms for â€Å"Help†Peace of Mind and A Piece of One's Mindâ€Å"Least,† â€Å"Less,† â€Å"More,† and â€Å"Most†

Links Between Organisation Structure and Culture - Free Essay Example

Executive Summary The purpose of this research is to help the business (Sumciouz Pastry) to explore the links between the organisation structure and culture and to see how these interact and influence the behaviour of the workforce The senior partner (researcher) of the business consulting firm (Quality Innovators Consulting Agency) will assist the clients (private partners) who are in the process of purchasing the enterprise. The research will be presented in the form of a report. The researcher is to conduct a research for a group of small investors in the purchasing of a small business enterprise. This research can help investors and stakeholders in varying organizations and business industry to extend their knowledge of how organizational culture along with its structure can be effective in their operations as well as the use of appropriate management approaches, leadership styles and motivational theories in order for their businesses to progress successfully. As a student pursuing a career in the field of business this research will serve to increase my knowledge in the capacity of assessing how the link between culture and structure can be effective to organizations. The research design was a quantitative research collected by secondary data gathering. The internet and books were used as it was convenient and effective in the collection of data. The data generated was analyzed and reflected in the results of the report. Due to the fact that the research was that of a quantitative one in nature, the research maybe lacking in terms of getting primary information that woul d have yield more insight into the research. The researcher found that the business was lacking in terms of putting in place the necessary approach to improve efficiency and effectiveness of the business and that the business has failed to employ any organizational theory to assist in management practices. The researcher recommends that the business utilize the organizational theory in carrying out management duties by the owner of the business so as to facilitate better and improved operations within the business and implement the use of systems approach in dealing with customer orders by putting in place a computer system where customers can make their orders online instead of having to come to the business. The researcher concludes that understanding and using management approaches and applying the appropriate leadership style can impact an organization greatly in terms of achieving success and increased productivity. Analysis and Findings LO2 Understand the different approaches to management and leadership 2.1 Compare the effectiveness of different leadership styles in different organizations There are various leadership styles present within different organizations that can have positive or negative effects on organizations. According to Mind Tools (2014) the three common types of leadership styles are autocratic leaders, democratic leaders, laisser-faire leaders. The autocratic leadership style in a small business operation would be effective in that the decisions made ensures that workers follow a certain line and order and delegates who is in charge thereby allowing smooth operation of the organization. However, in an organization such as a cooperative or a company where democratic leadership style is utilized proves to be effective as it ascertains high productivity and high job satisfaction due to the fact that feedback is given to the leader from interaction with customers and that the employees are included in the decision making process. On the other hand leaders who take on a laisser-faire style may see high productivity as it allows employees to be creative in their work although time management can be an issue if neglected putting the business at risk. Sumciouz Pastry has a democratic style of leadership that allows both the customers and employees to assist in the decision making which has proven to be effective in improving the business operations however; the involvement of customers and employees is to a less extent due to the time in which certain decisions have to be made. 2.2 Explain how organizational theory underpins the practice of management Organizational theory refers to the different ways in which an organization goes about managing its employees and the organization on a whole to achieve its objectives. The theory used by an organization will depend on how it intends to accomplish it goals hence the theory can be goal theory, scientific management theory where management seeks to find the best and easiest way for employees to carry out their tasks and eliminate wastes. The business has not employed any direct organizational theory should they do so in the future the researcher would recommend the use of the scientific management theory. 2.3 Evaluate the different approaches to management used by different organizations According to Cheriam (2013) à ¢Ã¢â€š ¬Ã…“bureaucratic approach, Administrative approach, scientific approachà ¢Ã¢â€š ¬Ã‚  are the approaches to management within organizations. However, there are behavioural approach, quantitative approach that deals with figures and so forth as well as the most recent approach of total quality management where employers or mangers encourage employees to see the product or service they are offering as one so as to ensure that quality is maintained. A manufacturing company may use the TQM approach as they are dealing with goods so as to ensure quality products are made. Sumciouz Pastry owner of the business being that there is no managers engages the scientific approach but is aiming to adapt the systems approach to a lesser extent in the near future so as to deal more effectively with customer orders. Recommendations The researcher would like to suggest the following recommendations of which are: To utilize the organizational theory in carrying out management duties by the owner of the business so as to facilitate better and improved operations within the business. To encourage the implementation of systems approach in dealing with customer orders by putting in place a computer system where customers can make their orders online instead of having to come to the business. Conclusion The researcher has concluded that management approaches and the different leadership styles if applied to the correct situation or organization can be beneficial to employees and the organization alike in that it aids in effective leadership as well as successful running of the organization. The different approaches range from bureaucratic to scientific approaches whereas the leadership styles involves autocratic, laisser-faire and autocratic among others. The business has employed the democratic leadership style that includes the involvement of employees and customers. However the business has been lacking in its approach to make the operations more efficient nonetheless measures will be implemented to ensure that efficiency is improved and maintained so as to ensure success of the business on a whole as well as employees in carrying out their different tasks. References George Cheriam. 2013.Various approaches to management. [ONLINE] Available at:https://www .slideshare.net/georgetcherian/various-approaches-to-management. [Accessed 20 October 14]. Mind Tools. 2014.Leadership Styles. [ONLINE] Available at:https://www.mindtools.com/pages/article/newLDR_84.htm. [Accessed 20 October 14]. 1

Consequences of Successful Business vs Unsuccessful...

Consequences of successful business vs unsuccessful business: Linking business success to management The success of a business is based on the quality, the education and the experience of management. Experience is necessary in order to make the right decisions and education leads to higher quality of performance. Quality decisions and performances contribute to the achievement of the business objectives and goals. All these success factors enhance the strengths of the business, which makes it more competitive in the marketplace. Let’s have a look at two similar businesses, a successful one, KFC, and an unsuccessful one, Mochachos’ Chicken Villages and we can see how applying quality relates to some business functions. 1.†¦show more content†¦All documentation is done correctly and all systems are in place and check. Policies and procedures are followed to the last detail such as the cleaners noting down the time they have cleaned. Stock control is an ongoing process. All the information collected is used for research and development, planning, projecting and budgeting ahead and also steps are taken to make sure the right decisions are made for the goals of KFC to be achieved. Mochachos’ Chicken Villages didn’t have all the policies and procedures in place. They made incorrect decisions regarding renting new space to operate in. They didn’t analyse their customer’s needs, they didn’t project future sales or work out the financial position of the business. The most important thing is that Mochachos’ Chicken Villages didn’t remain sustainable in today’s competitive business world. 5. Quality and Healthy Financial Function This function is concern with raising enough capital to finance the business’s assets, resources and services to operate properly. The financial manager must make sure that the business can make enough money to cover the cost of raising the capital. KFC have done budgeting which is the most important mechanism for financial control. 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Business Research Report Proposal Initial Research Proposal

Question: Discuss about the Business Research Report Proposal of Initial Research Proposal. Answer: Introduction: Now a day the internet services are available all over the world. Due to internet entire world becomes as a single village. Without internet we cannot imagine the world and it becomes as the basic need of daily life. Internet plays an important role in the human life and entire world is connected by the internet services. There are so many internet data providers in the different countries. In Australia, there are so many internet data providers and most of the customers use the data through their Smartphones, tablets and computers. The internet and mobile operator company Vodafone is one of the biggest telephone and data Provider Company in the Australia. Lots of people use the Vodafone services for the mobile and data. There are so many facts which are related to the use of the internet services by the customers. There are different patterns observed in the use of the internet data according to the income of the persons. Also, the use of the internet data is related to the age of t he users. It is observed that middle aged persons use the more internet data than the small aged and older people. Also, there is a significant difference in the use of the internet data by the customers in the metro city and the small cities. It is observed that the use of the internet services in the small villages is less as compared to the big cities. For this research study, we want to study the all aspects of use of internet data by the Vodafone customers. By using the information from the Vodafone customers we have to check some claims by using the statistical tools and techniques. Let us see this research proposal in detail explained in the next topic. Research Questions: It is important to establish the research questions for the research process because it provides the proper way to the research study. For this research study, we have to check the different claims regarding the customers of the Vodafone Company in the Australia. The research questions for this research proposal are summarised as below: 1. Is there is any significant difference observed in the total use of the internet data service by the male customers and female customers? 2. Is there is any significant difference in the use of the internet data by the persons with different socio-economic classes? 3. Is the age related to the use of the internet data? 4. Whether the internet data users in the big cities use more data than the data users in the small cities? 5. What is a monthly expenditure of the internet data for the customers for Vodafone Company? To answers these questions, it is important to collect the data from the Vodafone customers and use the proper research methodology for drawing conclusions. Let us see the research methodology used for this research study. Research Methodology: The first step in the research methodology for the business research study is nothing but to establish the research hypothesis or the research questions. By establishing the research questions we get the proper guideline for the research process. After establishing the research questions we need to collect the data for the variables included in the research study. For this research study we have to collect the data for the customers of the internet data users of the Vodafone Company. We have to collect the data from the customers of the Vodafone Company. We would collect the data from the customers by using the random sampling methods. We would collect the data for the all types of the customers or the customers from the different socio-economic class, male and female customers, the customers in the different age group, etc. We would use the questionnaire for collecting the responses from the customers who use the Vodafone services. It is important to prepare a well organized questio nnaire for the purpose of the collection of the data from the Vodafone customers. The order of the questions in the questionnaire would be arranged in a well manner and the customers would not be confused while responding to the different questions asked in the questionnaire. After collecting the data from the Vodafone customers we would keep this data in a tabular form. Then by using this data we would use the different statistical tools and techniques for the purpose of analysis of this data. For this purpose we need to use the descriptive statistics and the inferential statistics. By using the inferential statistics or the testing of the hypothesis we would check the different claims under study. It is important to use the proper test of hypothesis while checking the different claims under study. we use the different tests according to the available information. For example, if we want to check the significant difference between the two population means and if we have the informa tion about the population standard deviations, then we use the two sample z test and if we do not have the information about the population standard deviations, then we use the two sample t test for checking the significant difference between the two population means. Also, if the sample size is small then we prefer the t sample test instead of the z test for the population mean. By using the descriptive statistics we get the general idea about the data and the nature of the variables. In the testing of hypothesis we need to use the different tests such as one sample t test, two sample t test, one way analysis of variance, correlation coefficient, regression analysis etc. Data collection: We know that the data collection is very important for the purpose of carrying out the research process. For this research study, we have to collect the data for the different variables such as total use of the internet data in a single month, the gender of the customer, the age of the customer, the socio-economic class of the customer or the income of the customer, the type of city the customer lives in, etc. We have to collect the responses from the customers by using the well prepared questionnaire. It is important to prepare a questionnaire in well manner so that the respondent would give the response in an easy manner and the confusions would be avoided while making the questionnaire. Also, the use of the language which is understandable to the Vodafone customers is necessary so that the customers would give the responses easily. Also, the data collection by using the other methods such as telephonic interviews and direct interviews would be carried out in a proper ways. A sampl e size would be adequate for drawing the conclusions. If we do not select the proper sample size, then we would get the biased results and the results would not be applicable for the further use. So, we would collect the data for more than 200 customers. We would include the customers of all types of income, age, gender and city. Data Analysis: As we know that the statistical data analysis plays an important role in the research process for checking the different hypothesis or claims under study and for the evaluation of the different parameters under study. by using the statistical data analysis we can compare the different measurements and conclude about these parameters. Data analysis includes the study of the descriptive statistics and the inferential statistics. The descriptive statistics includes the study of the mean, mode, median, maximum, minimum, range, standard deviation etc. The inferential statistics includes the study of testing of hypothesis and by using this testing of hypothesis we can check the different claims under study by using the different types of statistical tests such as t tests, ANOVA, etc. In this topic, we have to see the process of the statistical data analysis for the research study regarding the use of internet data by the users of Vodafone Company in Australia. For the analysis of the colle cted data we have to use the descriptive statistics and inferential statistics. By using the descriptive statistics we would get the general idea about the data and we would know the nature of the data for the variables under study. Also, we have to use the graphical analysis for the purpose of the comparison of the data use by the male and female customers as well as the data use by the customers in the different age group. We can compare this fact by using the bar diagrams. Also, we have to use the inferential statistics or the testing of hypothesis for the purpose of checking the different claims under study. For checking the hypothesis whether there is any significant difference observed in the total use of the internet data service by the male customers and female customers, we need to use the two sample independent t test for the population mean. For checking the hypothesis whether there is any significant difference between the internet data use by customers with different ag e group, we need to use the one way analysis of variance. Also, we need to use the correlation and regression analysis for the purpose of finding the extent of the relationship exists between the dependent and independent variables and estimation of the dependent variable for the future use. By using the statistical analysis we would get the proper conclusions for the research study. Now we have to see the project plan for this research study which is given as below: A project plan using a Gantt chart A Gantt chart is the chart of the proper time management for the different activities included in the research study. For this research study we have to perform different activities for the purpose of data collection and data analysis. This research study for the Vodafone customers include the different activities such as the study of the research topic and research questions, identification of the variables needed to the research process, the data collection process by taking the interviews of the Vodafone customers, the data collection process by using the questionnaire for collecting the responses from the Vodafone customers, the data collection process by using the telephonic interviews of the Vodafone customers, organization of all data in a single tabular form, statistical data analysis and conclusions. The general Gantt chart for this research project is given as below: Activity Day 1 2 3 4 5 6 Study of research topic Data collection - Interviews Data collection - Questionnaire Data collection - Telephonic Organization of data in tabular format Statistical data analysis Research outcomes Expected Outcomes: In this topic, we have to discuss the expected outcomes for the research study. Actually we are expecting these outcomes before carrying out the research. After completion of the research, we can check and compare these outcomes with the outcomes when actual research is carried out. For this research study, the expected outcomes are summarised as below: 1. We would expect there will be no any significant difference in the total use of the internet data service by the male customers and female customers. 2. We would expect the significant difference in the use of the internet data by the persons with the different socio-economic classes or the persons with the different income. 3. We would expect the positive correlation or the linear association exists between the two variables age of the data user and the use of the internet data by user. 4. We would expect that there would be a significant difference in the use of the data by the customers from the big cities and small cities. References: Schervish, Mark J. (1995). Theory of statistics (Corr. 2nd print. ed.). New York: Springer Moses, Lincoln E. (1986) Think and Explain with Statistics, Addison-Wesley Hays, William Lee, (1973) Statistics for the Social Sciences, Holt, Rinehart and Winston Rubin, Donald B.; Little, Roderick J. A.,Statistical analysis with missing data, New York: Wiley 2002 Mosteller, F., Tukey, J. W. (1977). Data analysis and regression. Boston: Addison-Wesley. Mann, Prem S. (1995). Introductory Statistics (2nd ed.). Wiley. Babbie, Earl R. (2009). The Practice of Social Research (12th ed.). Wadsworth. Nick, Todd G. (2007). "Descriptive Statistics". Topics in Biostatistics.New York: Springer. Trochim, William M. K. (2006). "Descriptive statistics". Research Methods Knowledge Base.

Jeff Bowling at the Delta Companies

Entrepreneurs engage in high risking ventures and intrinsic motives drive them towards realizing success in all these schemes. According to entrepreneurs, necessity is the mother of invention; they always work towards achieving a goal in their activities (Toren Toren, 2011). This category of business people always develops winning attitudes in all actions that they pursue and possesses extroversion and a proclivity for risk-taking.Advertising We will write a custom essay sample on Jeff Bowling at the Delta Companies specifically for you for only $16.05 $11/page Learn More Entrepreneurs may lack finances, but will commit the little they have to ensure that they eventually meet their targets. Moreover, entrepreneurs are creative individuals who are ready to learn for the sake of developing new ideas to make their ideas successful. If one fails to realize his/her entrepreneurial skills and other people help him/her see his/her potentials, it does not make such an individual an accidental entrepreneur. In connection to this, Jeff Bowling, therefore, is not an accidental entrepreneur. To top it off, when some of his players’ parents informed him of going beyond his career as a baseball coach, he took the initiative of researching on other career options independently. Evidently, the parents only notified Jeff of his hidden potential in recruiting. His determination to try another career yielded fruits within two weeks of search as he landed on Merritt Hawkins and Associates (MHA) advert for healthcare recruitment. Jeff’s illusion at his life as a baseball coach opened a new path into the healthcare industry. Notably, the baseball coach identified a leading healthcare firm in the country to help him learn great activities during his employment period. In addition, when a local businessperson, David Wood, offered him space in his office to start a personal shop, he quickly accepted it and went ahead to resign from the leadi ng healthcare firm. Jeff’s decision of opting for a personal enterprise to an employment job reveals that he is an un-accidental entrepreneur. Starting a personal shop at Wood’s office assured Bowling of getting time for his all-life baseball team. Even though Dave funded entire business activities, Dave relied on Bowling’s active recruitment skills in starting and running Delta Medical Consulting. Interestingly, Bowling did not wait to receive instructions from Dave on managerial duties even though he lacked these skills. A real entrepreneur does not stay idle in management, but acts to learn the skills in the process (Stephenson, 2007).Advertising Looking for essay on biography? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is the direction that Bowling took and learnt through the mistakes that he made thus becoming a competent manager in another field. Although Jeff was quick to deny his entrepreneurial capabili ties, his persuasive skills brought out his desire and need for successful business enterprises; this is what entrepreneurship is all about. An entrepreneur never gives up even when left alone. This is evident when Bowling opted to continue with the brilliant business idea that he had nurtured when Dave decided to withdraw his support for Delta. If Jeff could be an accidental entrepreneur, as he claims, he could have decided to leave the idea of continuing with Delta given that he lacked even financial skills and other back office details. At this point, Bowling developed and instilled the fighting spirit in the 10 senior people in the firm to enhance their continuous sustainability. As a risk taker, Jeff sold almost all his assets to keep the company a float. He convinced the remaining staff to commit their operating cash in the business operations to ensure the existence of Delta. When the company incurred some debt between 2006 and 2008, Jeff whom at the time was Delta’s C EO believed that it was premature to call the business a success since they have not proven the effectiveness of the business. In sum, failure is never an option for real entrepreneurs like Bowling; they always put all their resources in fighting to the end (Stephenson, 2007). Therefore, Jeff was wrong in describing himself as an accidental entrepreneur. When Jeff realized that with the absence of Wood’s organization in managing back-office functions such as collections, billings and accounting, the company had to hire expertise to put Delta’s strategic functions in the move for great returns on investment. In 2005, the company recruited a chief financial officer (CFO) and an accountant to assist in analyzing the cash flow statements and investing their funds at the traditional bank in asset-based lender.Advertising We will write a custom essay sample on Jeff Bowling at the Delta Companies specifically for you for only $16.05 $11/page Learn More These new recruitments helped in setting strategic objectives for the company through starting couples of sub-niches in healthcare staffing. Delta Medical Consulting also took the initiative of compartmentalizing its services to five specific business units. These units enhanced specialization in service provision at the health facility. For instance, the Liquid Medical Recruiting Unit specialized in providing personalized and efficient recruitment services thus assisting in meeting the company’s professional and personal objectives. In putting things on steroids, Bowling administered the partnering process with their clients such as universities, hospitals, rehabilitation centers, and clinics to facilitate placement of interested prospective applicants. In addition, the company increased its connection with new contenders by developing and maintaining a database of several health providers through specific promotion campaigns. The aforementioned processes assisted Del ta to address the persistent challenges it had been facing since the transfer of shares from Dave to Jeff. Apart from the above process of specializing the services within the company, Jeff should have used sponsored the already existing staff on financial management. Notably, this process will guarantee continuous staff loyalty given that no new employee will get into the system (Kaplan Warren, 2010). In addition, the process will reduce cost of management, as the current staff will not require further trainings on the operations of the firm. The process of recruiting new employees also required more logistics than training the current staff on specific areas of management such as accounting, billings, and collections. Moreover, the company could have used exchange programs in understanding how other firms in the industry have been operating. In exchange and outsourcing programs, Delta would have used task analysis and job reorganization to identify transferable templates and proc esses to other units.Advertising Looking for essay on biography? Let's see if we can help you! Get your first paper with 15% OFF Learn More The company could also adopt performance management process where the organization would have ensured that all departments improve performance and deliver real results. Under this process, an automated performance management solution enables managers to measure and evaluate departmental performance in order to optimize productivity. Since the main concept was to increase deliverance on their strategic objectives, performance management process could have assisted in gauging the level of outputs (Kaplan Warren, 2010). The process could have also established focus on skill development and learning of new activities and aligned employees’ daily actions with the company’s goals and objectives. In managing change, Jeff would have incorporated all staff for them to understand aims and ways of responding to diverse situations. Imposed changes never see the light of the day; therefore, the CEO ought to have created a favorable atmosphere for trainings, seminars, and workshops for the staff. In a speech of how to build a business, there are key issues that Jeff should deliver to the entrepreneurship class. Using Jeff’s scenario of moving from a baseball coach to a CEO, he ideally used the advice of Dave Wood and acted on them, instead of following how his predecessor use to manage the affairs of Delta Company. For instance, Bowling did not copy Dave’s management style in separating the company’s services into five core units. In building a business mansion, where one is currently does not matter, but it is only ideas that have billion potentials that take one to his/her destination. It is essential to understand that building a multi-billion company does not take place overnight. An entrepreneur must be unique in his/her dealings. The process involves coming up with new ideas that is, becoming innovative and creative to prevent situations of copying what others do (Kaplan Warren, 2010). Clarities of purpose, vision, and core values are essential in driving a personal idea to great heights. Since people have different personalities, tastes and preferences, it is prudent not to copy how one managed his/her way to the top, but to follow his/her advices of how he/she made it to that point. Clarity helps an entrepreneur to understand where he/she wants to go and for what reason. When one carry out duties in his/her own way, he/she opens up to learn new ideas hence setting their own targets rather than relying on what others have done. For instance, in managing Delta Medical Consulting, I used Wood’s advice and even developed a learning culture, which enable me to grow my individual capacity to lead the company to its present position. Markedly, the process brings different thinking in a person’s mind hence increasing the chances of applying new ideas. If one acts on the instructions he/she gets, there are higher chances of giving an idea a stinking shot that it requires, instead of following how other s have implemented the idea. One must believe in himself in order to build a successful business such that when other people withdraw their support, he/she can have the courage to soldier on with the dream. Additionally, an entrepreneur must believe in accomplishing the visions and purposes of the business so that he/she can develop trust in the entire process. In essence, one must be ready to learn new ideas in order to discover and comprehend current market dynamics. The process of building a business empire needs individual actions on one’s thoughts and remaining steadfast on them. Since the market is changing at a drastic rate, businesses also require alternative approaches of management. Successful entrepreneurs always know their expectations and do not need to follow someone’s way of implementing a personal business idea given that they had different perceptions (Toren Toren, 2011). Therefore, they only borrow ideas of how to build their enterprises from others through networking. Curiosity drives this category of people into knowing what others understand on their lines of interest, but do not engage in meaningless debates. In addition, one has to stick to his original beliefs at all cost to prevent other people’s ideas from swaying him/her, as these may cause distractions from hitting the target. If an entrepreneur can follow actions of his/her advisor, there are high possibilities that the entrepreneur will not be engaging in risky ventures that the advisor evaded. This shows an entrepreneur’s lack of confidence in building trust among potential investors and clients. During the business talk, Jeff should stress that an entrepreneur must believe in his/her capabilities, be visionary, courageous, open-minded and confident. When Jeff sold his car and house to acquire the business, senior staff members realized that he was a man who could do anything for success to come forth. This is the first action that made the entire exe cutive adopt the culture of collective responsibility. For new hires, the immediate exposure to the company’s core values through emails, attending a new-hire class, and holding two 90-minutes meeting with the CEO assisted in inculcating Delta’s traditions into the new recruits. In addition, the firm allowed employees to organize social events, champion causes, initiate fundraising initiatives for local organizations and work towards making Delta Medical Consulting a fun institution to work. Acts of instilling discipline and manners into new hires infused the company’s culture into these recruits. These organizational deposits are necessary as it enables employees to work in unison in achieving common company goals. Culture unites employees from diverse backgrounds and families. In addition, the principles control employees’ behaviors within and outside the organization thus encouraging loyalty towards the management. Employees should also understand the organization’s culture in order to bring them into one platform while at work (Importance of Organization Culture, 2010). This eliminates instances of discrimination and neglect at the workplace. Therefore, it is vital for employees to adjust to the organization’s culture and principles. Infusing culture into employees also brings healthy competition among employees in meeting their set goals. Employees who meet their targets feel motivated from the company’s recognition and appreciation. For instance, from the case study, the CEO reveals the company’s culture of rewarding highly performing workers. Organizational culture also helps in giving a sense of direction at the workplace as it defines the roles and expectations of all stakeholders (Alvesson, 2002). At Delta, the director is free to release an employee who proves ineffective to deliver on his/her roles or that who cannot get something done in 90 days. Bowling devoted 50% of his time to professiona l growth of the direct reports from different offices. The CEO used this time to motivate the representatives to work towards achieving the best results since they had not fully exploited their potential yet. He managed to hold weekly meetings with the eight different teams. In the meetings, they could review the goals of all the departments in order to align themselves with the organizations’ objectives. There was also a one-hour one-on-one meeting with direct reports, which occurred every month as from 10:30 am. During the monthly meetings, Bowling would request for annual goals from all the reports. In my opinion, the CEO used effective management skills given that he believed in management development as the top priority. His style of management enhanced transparency and accountability in all the eight offices at Delta Medical Holding. Further, he orchestrated his analysis of the Key Performance Indicators (KPI) on timely basis given that the company should focus at meeti ng its strategic objectives at all time (Reh, n.d.). For instance, nonfinancial metrics like customers’ loyalty and employees’ satisfaction are vital for the long-term operation of the health facility. Bowling was right in applying such management style to ensure that all the company was meeting the interests of all its stakeholders. On the financial aspect, it is through these frequent meetings that the CEO could realize any misappropriation of funds in through the records. Since he had resolved to realize success in business, Bowling should continue monitoring all the eight reports as he had been doing. Constant meetings were also significant since senior executives could evaluate their competencies during a performance review. The CEO accorded leaders who recorded low performance necessary trainings to improve their level of performance thus resulting to a high-performance culture. Jeff intentions of knowing the spouses of his executive team show a person who has no t only business interests but also the interests of the families of his employees. The move to meet the spouses at least twice a year also presents a CEO who is supportive and caring for the life of his subordinates. Jeff’s coaching skills is evident when he got a job at MHA when all the players stopped attending the training sessions. Once he left MHA, Bowling could get time to coach the baseball team notwithstanding his new duties at Delta. Upon taking over from Dave Wood, Jeff could guide new hires, senior executives and other employees on how to achieve maximum output at their capacities. Even at the meetings, Jeff presented himself more as a Coach than as a CEO given that he offered guidance to the senior management to act the way he could see things. As a CEO, he took the initiative of learning new managerial skills at work and was a strong believer in his potentials. When Dave opted to disengage himself from the activities of the company, Jeff demonstrated the roles of a CEO by summoning a meeting to discuss the way forward for them at the company. Even though the company presented numerous monetary benefits to Jeff, he could still secure time for his coaching activities, which had no financial return. The aforementioned arguments reveal Jeff’s more coaching skills than a CEO’s managerial skills. References Alvesson, M. (2002). Understanding organizational culture. London: SAGE. Importance of Organization Culture. (2010, May 28). Management Study Guide – Free Training Guide for Students and Entrepreneurs. Web. Kaplan, J. M., Warren, A. C. (2010).Patterns of entrepreneurship management (3rd ed.). Hoboken, N.J.: Wiley. Reh, F. J. (n.d.). Key Performance Indicators (KPI). About Management – business management – people management – and more. Web. Stephenson, J. (2007, July 30). 25 Common Characteristics of Successful Entrepreneurs | Entrepreneur.com.Business News Strategy For Entrepreneurs | Entrepreneur.c om. Web. Toren, A., Toren, M. (2011). Small business, big vision: lessons on how to dominate your market from self-made entrepreneurs who did it right. Hoboken, N.J.: Wiley. This essay on Jeff Bowling at the Delta Companies was written and submitted by user Jazmin Sutton to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Panera Bread - Marketing Business Analysis

Panera Bread - Marketing Business Analysis Free Online Research Papers Executive Summary â€Å"Over the last half century, eating out has gradually become a way of life for many Americans† (Basham Menza, 2007a, para.1). For this reason, the restaurant industry is a fast-growing, diverse and prosperous industry, with many interesting facets. The restaurant industry includes a wide range of food and beverage establishments within the United States. There are three main industry segments: fast-food, full service and specialty. Since the restaurant industry is extremely broad, this paper will specifically focus on the fast-food segment of the industry. The fasts of these chains are KFC Corp, Chick-Fil-A Inc., Popeye’s Chicken Biscuits and Church’s Chicken (Basham Menza, 2007b). Although it is not the industry leader yet, Panera Bread, Co. is an up and coming company that has much potential for growth and development. Panera was the sixth fastest growing restaurant in America as of December, 2006 with 20.3% increase in revenues from December, 2005 (Basham Menza, 2007b). Due to growing health food concerns worldwide and the increase in busy lifestyles in America, restaurants such as Panera, that offer quick service, relatively healthy menu items, and a clean, warm and homey atmosphere are up and coming. Despite the vast opportunities for Paneras growth due to these economic conditions, many other companies want in on the profit and have begun to saturate the market with very similar products and services. Direct competitors include, Cosi, Einstein Noah Restaurant Group, Starbucks, Corner Bakery Cafà ©, and Au Bon Pain while companys like McDonalds, Subway, Yum Brands and Starbucks also have the potential to pose threats. This analysis will highlight the economic, social, and legal environment as well as provide a Porter’s Five Forces analysis of the fast-food restaurant industry. This paper will then present a SWOT analysis of Panera Bread, Co., and discuss the company’s marketing mix. Paneras business strategies will be compared and contrasted to that of another popular fast-food restaurant; McDonalds. As a concluding note, strategic problems and alternatives will be mentioned, followed by recommendations for Panera in the future. Industry Structure Within the fast-food restaurant industry, small businesses have the opportunity to dominate because of the low entry barriers and possibility of high returns. Unfortunately, it is difficult for these smaller operators to survive because of the large chains and franchises that serve as major competition. Some pros to becoming a franchise are higher returns, strength in brand name and less day-to-day responsibility for the franchisor. Despite these positive aspects, if one individual restaurant in the franchise is poorly managed or operated, it may give a bad reputation to the entire franchise. Many restaurants that do franchise have the option of re-franchising, which means that the franchisor will buy and sell restaurants that are not performing up to standards. In other words, the franchisor is able to free up capital by selling off underperforming restaurants to create funds for research and development of new ventures (Basham Menza, 2007a). Economic Environment Due to poor economic conditions, such as rising gasoline prices and an uncertain real estate market, many Americans have had to cut costs in 2007, including the cost of dining out. The poor economy coupled with the fact that labor and food costs are increasing is putting a damper on profitability within the restaurant industry. Competition is tough for many establishments that have little to no competitive advantage. Unfortunately, the common trend for 2007 seems to be the merging and disposition of many restaurant chains. Despite these trends, Americans are still eating out, but as inexpensively as possible. As a result, fast-food chains have exhibited the most growth during the past years and the restaurant industry has become the largest private sector employer in the United States (Basham Menza, 2007c). Social Environment Two social environmental issues are present within the restaurant industry. First off, people are becoming more concerned with health related issues. As more consumers become educated about the risks of eating fattening foods, restaurant companies are focusing on the trend toward healthier eating by offering low calorie and low fat menu items to appeal to the health food craze in America. The health craze in part resulted from the many lawsuits filed against fast-food chains for child obesity and other health problems related to obesity. McDonald’s and Wendy’s have both tried to introduce fruit, vegetables and milk into their value meals for children rather than fries and soda. Applebees, Chili’s and Ruby Tuesday are three restaurants that offer smarter menu options for dieters. Burger King and Wendy’s are both experimenting with healthier oils used for frying that will reduce amounts of trans fat in their fries (Basham Menza, 2007b). Second, due to the increase in Hispanics within the US, restaurant companies have been focusing on appealing to many different target markets through either diversifying the menu at a restaurant or by acquiring different types of chains that will appeal to different people. For example, Yum! Brands Inc. (which is the parent company of AW Restaurants, Inc., KFC Corporation, Long John Silvers, Inc., Pizza Hut, Inc., WingStreet and Taco Bell Corporation) and Jack in the Box both have tried to appeal to the Hispanic population, by offering Hispanic foods and hiring more Hispanic employees (Basham Menza, 2007b). Lastly, most families in America have two incomes, meaning there is not much time to cook, and there is more spending money available. Because of these factors, restaurants are a perfect option to the busy family (Basham Menza, 2007a). Most restaurant chains have offered to-go and drive-thru service in the past, but the new trend is for the buffet restaurant chains to offer this service (Basham Menza, 2007b). Legal Environment There are several state and local government regulations that may put a damper on the fast-food restaurant industry. First, many states have now banned smoking in public areas, which includes all restaurants and bars. This rule may cause smokers to opt to eat at home or even forego an after dinner coffee, drink or dessert so they can enjoy their cigarettes after a meal. dSecond, there have been many laws concerning employment compensation. For example, San Francisco now requires employers to compensate employees with higher wages than the federal or state minimum mandates. Health insurance is now a mandatory benefit for even part time employees in several states (Massachusetts being one of them), which significantly contributes to compensation expenses. In 2007, the federal minimum wage was increased from $5.15 per hour to $5.85 per hour and will continue to rise by $0.70 each year until 2009 (yielding a federal minimum wage of $7.25 per hour). Many states already enforce an additional state minimum wage, which may cushion the blow that the restaurant industry will face in 2009. Most new legislation and regulation has the potential to add to the cost of owning and operating a restaurant in the United States, which may decrease profitability within the industry (Basham Menza, 2007b). â€Å"According to the CDC and USDA, food poisoning sickens 76 million people a year in the United States, sends 325,000 to hospital, and kills 5,000† (Reuters Health E-Line, 2006, para.9). As a result, the government sends official in to inspect individual restaurants all over the country to ensure that each restaurant maintains a sanitary and healthy environment for cooking and serving food. Restaurants that do not meet the governmental standards are slapped with high fines or in some cases closed down (Jones et al., 2004). Interestingly, according to former restaurant inspector and current vice president of health and safety regulatory affairs for the National Restaurant Association, Steven Grover, the restaurant industry as a whole is getting better each year as far as reducing the number of Americans infected with food-borne illness. Although numerous restaurants are still not up to governmental standards, dining out today is safer now than it has ever been (Garber, 2003) . Porter’s 5 Forces Analysis of the Fast-Food Restaurant Industry Panera Bread is not the typical fast-food restaurant in that it offers a more upscale product for a few dollars more than an ordinary fast-food restaurant. Although Panera does have this competitive advantage, there are many industry wide threats that it faces. The following paragraphs will discuss five primary industry threats and whether or not each is applicable to the fast-food restaurant industry. New Entrants The threat of new entrants is high within the fast-food industry. There are low barriers to enter this market and there is great opportunity to become very profitable. The only large up front capital cost to a potential new entrant would be that of building and equipment. Labor and commodity items are typically low cost items in the fast food industry (Basham Menza, 2007a). Panera itself is a relatively new entrant along with two of its direct competitors; Corner Bakery Cafà ©, and Cosi. Corner Bakery Cafà © offers pastries, salads and cafà © sandwiches with table service while Cosi offers flatbread pizza, sandwiches, pastries, salads and entire entrees. Both offer catering and both have a little over 100 locations throughout the US. Panera, Corner Bakery Cafà © and Cosi all originated throughout the 1990s (Feed the Day Corner Bakery Cafà ©, 2008; Panera Bread, 2008; Cosi Simply Good Taste, 2008). It seems that the new up and coming fast food restaurants are all catering to the ever-changing demands of society. Its like society is over the cheeseburger and french-fries, slice of pizza, drive through phase and moved on to a more sophisticated, healthier taste. The restaurant industry is unique in that consumers are always on the look-out for new entrants into this market. Since people get sick of eating the same foods over and over again, many consumers are eager to try new restaurant ideas (Basham Menza, 2007a). Rivalry The threat of rivals in the fast food industry is also high. With hundreds of choices and in most cases very little differentiation, it is difficult to stay afloat in this industry. Below, in Figure 1, is a depiction of the market share of top fast-food companies in 2007, including Panera. It is interesting to see that the most internationally and nationally well known and largest fast-food companies, including McDonalds, Subway, Starbucks and Yum Brands, make up only 37% of the market. Other restaurants make up more than half of the market which is one of the reasons why rivalry is such a large threat within this industry (Panera Bread Company (PNRA), n.d.). Figure 1 There are two ways to look at Panera and its competition within the industry. If a customer is just looking for any quick service restaurant to grab a bite to eat then Panera is competing with McDonalds, Yum Brands and Subway. If a customer is specifically looking for an upscale cafà © and bakery, then Panera is competing with Cosi, Corner Bakery Cafà © and Au Bon Pain. When looking at Panera as a player in the fast-food industry as a whole, as far as revenues and profits go, Panera is at the bottom of the chart compared to most other companies. Part of the reason is because Panera is a newer company and it does offer a premium product, which may not appeal to lower income level people. Some top fast-food chains are McDonalds, Burger King, Wendys, Subway (Doctors Associates), Yum Brands and Starbucks. Figure 2 below is a graphical depiction of Paneras revenues as of the end of 2007 compared to some top fast-food restaurants (Panera Bread Company (PNRA), n.d.). Figure 2: 2007 Revenue in Billions of Dollars of Key Fast-Food Players Although Panera is in the bottom region of this chart, it is definitely producing more revenues than Cosi, who is one of its direct competitors, which will be discussed next. In many cases, people know what they want to eat and compare Panera to other upscale bakery and cafà ©s such as Au Bon Pain, Cosi, Corner Bakery Cafà © and The Einstein Noah Restaurant Group. Because Panera is a company that has differentiated itself from others based upon its product and price, competitors such as McDonalds and Yum Brands and even Subway do pose a threat but are not direct competition to Panera. When looking at Panera in this sense, the threat of rivalry is still high due to the fact that there are many other similar companies out there offering similar products, but not as high as it is within the entire fast-food restaurant industry. Aside from Au Bon Pain, Panera is the most well known between the bakery and cafà © competitors mainly due to its presence in 40 of the 50 states. Many of these direct competitors have yet to expand out of 10-20 states and none, with the exception of Au Bon Pain have ventured outside the US yet (Feed the Day Corner Bakery Cafà ©, 2008; Panera Bread, 2008; Cosi Simply Good Taste, 2008). Substitutes Although there are many substitute products for a fast-food meal, the threat of substitute products within the fast-food industry is moderate. Two substitutes are eating at home or eating at a full service restaurant. Of course it widely depends on the economy as to whether or not people have the money to eat out, but most people eat fast food for convenience sake. In other words, people eat fast-food when they are either unable to cook or do not want to cook. In the event that prices among fast-food restaurants drastically increased or disposable income drastically decreased, the threat of substitutes would become more severe. On the same token, if disposable income drastically increases people most likely would opt to eat at full service restaurants for better quality food. Again, there really is no threatening substitution for the convenience of fast-food (Vanden Boogard, 2006). Suppliers Since most of the supplies within the fast-food restaurant industry are commodity items, the threat of suppliers is low. Despite this low threat, one common trend within the industry is the rising prices of commodities. First off the cost of labor is increasing due to the continual increase in federal and state minimum wage and new laws enforcing employers to offer benefits to all employees. Second, chicken prices rose by 17.7% while dairy product prices increased by 29.8% throughout 2007. Reasons for these price increases trace back to an increase in the price of corn which is used as chicken feed in most farms. Corn is now being used as a bio-fuel ethanol product which is driving it price up. Corn syrup prices have also increased because of this, which will lead to increases in pricing for beverages, as corn syrup is used as a sweetener in most soft drinks. Unfortunately, these supplier price increases are eating away at profits within the industry as many companies cannot afford t o increase their own prices. On the other hand, many companies have increased menu prices, meaning the consumer is absorbing the increase in commodity costs. The National Restaurant Associations reported that menu prices on average increased by 3.1% in 2006 (Basham Menza, 2007c). Buyers The threat of buyers within the fast-food industry is high. As previously discussed, because there is such a large range of competition and always the option to move on to the next restaurant the cost for a buyer to switch restaurants is low. In many cases, there are several fast-food restaurants within a small radius, so if buyers have a negative connotation with a restaurant (such as experienced a food-borne illness, or poor service or quality of food), very little will prevent that buyer from driving or even walking the extra tenth of a mile to reach another fast-food restaurant. For this reason, it is extremely important for companies to focus on customer demands and keeping the customer happy. It is also important for companies to keep the appearance of each restaurant up to standards and provide a clean and welcoming atmosphere. Now that the industry is defined, discussion will ensue to the target company: Panera Bread. It will be interesting to look at where Panera falls within this industry, what it is doing correct and incorrect, and what it should be doing better. Target Company Analysis: Panera Bread Organizational Culture Panera Bread is a bakery and cafà © that offers bagels, pastries, sandwiches, pizzas and specialty drinks. There are 1,230 individual Paneras across the US and most are franchised (698 to be exact). Last year Panera Bread, Co. acquired 51% of Paradise Bakery Cafà © which is a similar entity that operates in the Southwest region of the US. Panera has yet to venture into the international market but does plan to expand into Canada in the near future (Rozhon, 2006). Ironically, Panera Bread, Co. has roots with its one of its direct competitors, Au Bon Pain. In the late 1970s and early 1980s Au Bon Pain, Inc. originated in Boston. As the company began to grow as a bakery and cafà ©, it acquired a similar company and competitor, St. Louis Bread Co. During the mid 1990s Au Bon Pain, Inc. began franchising its St. Louis Bread units out as Panera Bread. Although Panera began to do well with revenues and growth, Au Bon Pains sales were suffering and by the late 1990s corporate decided to sell off the Au Bon Pain units entirely and become Panera Bread, Co. The current CEO and Chairman, Ron Shaich, was actually one of the co-founders of Au Bon Pain, Inc. in the early 1980s. He has been the CEO and Chairman of Panera Bread since 2001 when his fellow co-founder of Au Bon Pain decided to pursue other business ventures (Panera Bread Company, 2008). The culture at Panera is quite different from most restaurants. Whereas most companies have high turnover rates amongst management, Panera Bread has had the same leader since its beginnings back in the mid 1990s. Ron Shaich is not the only Panera lifer. Several other members of Au Bon Pain management came with Shaich in the late 1990s when Au Bon Pain was sold off and have stuck with Panera since then. Shaich is an intelligent leader who is dedicated to hard work, and committed to his customers. Panera is successful due to the fact that Shaich conducted ample research that determined what the people wanted. That explains why each Panera is decorated with original artwork, always has a fire burning in its fireplace and offers sofas and arm chairs along with typical table seating. He is the type of manager who despite his high ranking position will still be seen serving customers behind the counters of one of his Panera restaurants. Loyal employees who truly care about the business are most valuable in Shaichs eyes (Stewart, 2007). It is also interesting to note that Shaich owns 14% of Paneras voting rights, meaning he has enough faith in the company to invest a portion of his own funds. Not only that but he has an additional motivation to continue to grow the company (Vanden Boogard, 2006). SWOT Analysis: Panera Bread Strengths Panera has many strengths as a company but for the purposes of this paper its top four will be discussed. First, one of Paneras greatest strengths is its leadership and management structure. As mentioned previously, Shaich has been with the company for many years and has much experience in running a successful restaurant (Especially since he was lucky enough to have Au Bon Pain as his trial run). Panera also has a bit of a unique franchise policy in place that adds to its strong management feature. In order for an individual to open a franchised Panera, he or she must purchase a market area in which he or she is to open approximately fifteen Panera restaurants within six years. This strategy prevents people without the appropriate amount of capital and without the will to put their heart and soul into the company from becoming part of the Panera team (Panera Bread, 2008). The company has realized that if it wants to franchise to expand, it needs reliable managers who will work hard a t keeping up the good reputation of Panera. If someone is forced to take on fifteen restaurants, he or she must be a good manager and maintain each individual entity so as to continue to grow. Secondly, Panera has great product. For the price, its food is a great value. According to its website, Panera has won numerous awards all over the country, including Best Bakery, Best Bread, Best Dessert, Best Lunch, Best Summer Beverage, Best of the Best, Best Fast-Food and the list goes on from there. Not only does it offer healthy menu items but service is quick and the atmosphere is comfortable and homey (and includes free Wi-fi). The company continues to be creative and add new menu items, such as the Crispani flatbread pizza, mini breakfast quiches and a wide variety of soups and salads (Vanden Boogard, 2006). Third, Paneras finances are just another strength. For the past five year the company has had positive and growing net incomes. This is mainly attributable to the fact that in 2007 revenues had nearly tripled from 2003. In 2003 net income was approximately $30.43 million while in 2007 it reached approximately $57.46 million. Although the company did experience some negative cash flows back in 2004 and 2005, in both 2006 and 2007 cash on hand increased by $27.65 million in 2006 and $16.15 million in 2007 (United States Securities and Exchanges Commission Form 10-K, 2008). Lastly the brand name and image associated with Panera is a strength. The company has 1,230 stores throughout the US, meaning that most likely a great deal of consumers have heard of Panera. Panera is considered an upscale fast-food establishment and is known for its fresh breads and pastries, comfortable and clean atmosphere and healthy menu options (Panera Bread, 2008). Weaknesses There are a few weaknesses associated with Panera Bread that come to mind. First, Panera has yet to expand internationally. Although the company said that they expected to enter Canada in 2007, that is yet to happen (Rozhon, 2006; Panera Bread, 2008). If Panera wants to play with the big boys (for example McDonalds, Starbucks, Yum Brands and even its top competitor Au Bon Pain) it will have to make a plan to go international and follow through with it. Another company weakness is its dependency on franchising. Although Panera has a good strategy to pick up strong franchisors, the majority of its units are franchised. Industry leader, McDonalds Corporation, also franchises the majority of its units and does just fine, but less revenue comes from franchising and there is always the possibility that the franchisors could destroy the company reputation if they do not adhere to company policy (Panera Bread, 2008). Next, Panera uses all fresh ingredients and in some cases rare ingredients (such as anti-biotic free chicken) in preparing its menu items, meaning supplies are delivered three times per week at a minimum to each Panera restaurant. Panera receives 98% of its ingredients from only three suppliers. Unfortunately this high dependence on such a small number of suppliers may disrupt regular business operations. If bad weather occurs, vehicle problems are encountered, or even if one supplier experiences business problems and shortages Panera will not have enough ingredients to operate, which may upset customers and result in a loss of revenue (United States Securities and Exchanges Commission Form 10-K, 2008). Lastly, there are still many people who would prefer to eat at Subway or McDonalds as they are not convinced that it is worth the extra couple of dollars to eat at Panera. Panera needs to bulk up its marketing and advertising to ensure that it convinces as many customers as it can that they are worth the additional price (United States Securities and Exchanges Commission Form 10-K, 2008). Threats Along with the aforementioned weaknesses, there are a few threats that Panera faces. The economy poses a large threat to Panera. Paneras product is not a necessity and it may be considered a luxury product. This means if people do not have the money to spend due to a poor economy including rising gasoline prices and high unemployment rates, they will either opt for a substitute such as eating at home, or head to McDonalds or Subway for a much cheaper meal (Vanden Boogard, 2006). Competition is another large threat to Panera. In the fast-food restaurant industry, there are hundreds, maybe even thousands of companies, both small and large for consumers to choose from. Within most suburban areas throughout the country consumers only have to drive a few miles for at least five or ten different fast-food restaurant options. Although Panera offers a premium product it is still just fast-food and must constantly stay on its toes to meet the consumers ever-changing demands, especially since there is no cost to the consumer to switch from one restaurant to the next (United States Securities and Exchanges Commission Form 10-K, 2008). Currently, 8% of Paneras locations are in Florida and 6% in California (Panera Bread Company, 2008). This geographic concentration in two natural disaster prone states poses a threat to Panera. If a hurricane or earthquake reeks havoc over either state Panera will suffer a large loss (Vanden Boogard, 2006). Yet another threat is that of management. A great deal of Paneras success can be attributed to Ron Shaich. Part of this success stems from the fact that Panera’s roots really started with Shaichs own little bakery in Boston which he eventually built up to a national restaurant chain. Shaich has been in the business for 25 years and is passionate about Panera because it is his own creation. Although he is not really that old, he will retire someday. The threat here is finding another leader with as much passion to succeed and as much personal baggage invested in the company as Shaich (United States Securities and Exchanges Commission Form 10-K, 2008). Lastly, the following is a threat that all restaurants face. That is the threat of food-borne illness. If one individual restaurant has a bout with salmonella or e-coli or even the avian flu (which is unlikely but it is mentioned in Paneras 10K), the entire brand name will be defamed and most likely sales will drastically decrease (United States Securities and Exchanges Commission Form 10-K, 2008). Opportunities As is the case with many young companies, Panera has various opportunities in its upcoming future. Three primary opportunities come to mind. The first is that of growth and development through expansion. Panera is currently located in 40 of the 50 states, but in most states there are only a few individual locations. On the same token, Panera has yet to go international. The company should test the waters by choosing a specific market, performing research and then dive in. International growth will take the company to the next level by continuing to increase its sales and earn world-wide recognition (Panera Bread, 2008). Another opportunity that Panera is facing is to capitalize on the health-food craze in America. Society has become obsessed in some ways with eating healthy, which could pose large threats to the typical cheeseburger and french-fry fast-food chains. Panera is in a great position because they already offer a healthy-themed menu. Although bread is high in carbs, which most dieters try to stay away from, Paneras soups, salads, and new Crispani flatbread pizzas are all healthy options. If Panera continues to introduce healthy menu items such as by offering low fat wraps rather than bread or expanding on their salad selection, they have the opportunity to capture a larger market share. Lastly, Panera has the opportunity to diversify its menu. For example, by adding alcoholic beverages to its menu after 5pm it may attract a larger dinner crowd. Panera could offer alcoholic coffee drinks with pastry for dessert and wine and beer with sandwiches and salads for dinner. Since it already has most of the ingredients, Panera could introduce calzones and thick crust pizzas. It could even introduce grilled chicken entrà ©es with side salads without altering its supply chain too much. Panera Breads Marketing Mix Product Although Panera does have an opportunity to diversify its product line, its current products are not doing all that bad. Panera offers a bakery menu and a cafà © menu. Items on its bakery menu include bagels, pastries, muffins, freshly baked breads, breakfast sandwiches and soufflà ©s. Items on its cafà © menu include salads, soups, sandwiches, Crispani pizza, hot and cold beverages and a kids menu. With each season, Panera features new products that are seasonally themed. For example, this summer its cafà © menu features a strawberry poppy-seed salad, which includes an assortment of fresh fruit on a bed of lettuce with signature poppy-seed salad dressing. Summer features also include a frozen lemonade beverage and an egg and cheese breakfast sandwich on fresh bread. Panera is also known for its unique soups, which also tend to change with the season and in some cases the day. Each day a different variety of soups are offered on the menu, which are listed on its website. There ar e special seasonal soups as well, such as the summer corn chowder (Panera Bread, 2008). Another product that Panera offers is called Via Panera. This is the companys catering service. Via Panera offers boxed lunches or breakfasts that are delivered to parties of five or more. Along with the food, the customer receives a catering coordinator who is in charge of delivery if applicable and helps the customer make menu selections for large groups such as office meetings or even parties and other functions (Panera Bread, 2008). Aside from the physical product that Panera offers, they offer a psychological product as well. As previously mentioned, each individual Panera is decorated to feel comfortable and homey. Panera is a place where people can gather and relax and enjoy the atmosphere. Although the food is slightly more expensive than McDonalds, Panera offers couches, fireplaces and even free Wi-Fi for its customers to enjoy (Panera Bread, 2008). Price Paneras pricing is by far much higher than the typical fast-food restaurant. Although it charges much higher prices, it offers a higher quality product and atmosphere than the typical fast-food restaurant. As of November 2007, Panera was experiencing a drop in margins mainly due to the increase in commodity supplies and had to determine a strategy to deal with this problem. Shaich decided to raise menu prices by about 2.5% in the cafà © and 5% in the bakery section. Shaich also determined a new promotion strategy to deal with this problem, which will be discussed next (Walkup, 2007). Promotion Panera has many cost efficient successful ways of promoting its products, including newspaper and magazine ads, billboards and most importantly, word of mouth (Panera Bread: Some History and Commentary, 2004). The company posts its menu and soup flavors of the day on its website and has different seasonal menu items featured each season. Some well known menu promotions include the You Pick Two menu item, which allows consumers to pick any two items featured on the salad, sandwich and soup menus and receive one half of each item for about $7. Panera is also known for offering a bakers dozen of bagels rather than they usual dozen. Similar to other bakery chains, Panera also offers a box of coffee to accommodate large groups or tubs of cream cheese to go along with the bakers dozen of bagels (Panera Bread, 2008). Panera has relied upon the fact that its customers will enjoy their experience so much that they will come back and bring friends. This is just another reason for Paneras conce rn with its customer demands (Panera Bread: Some History and Commentary, 2004). As mentioned previously, in late 2007 Panera had been experiencing declining margins and came up with a promotional strategy to combat the problem. Rather than dropping products that yielded low margins, Shaich revamped the menu boards at each Panera to list the products that had the highest margin first. The hope here was that people would see the most profitable menu items first and out of partially convenience sake and partially intrigue order these items. Panera had decided to increase costs meaning each menu board had to be updated, so why not move the items around to put the spotlight on the most profitable items (Walkup, 2007). Panera also offers a wide price range of products to accommodate consumers from a wider budget span. Shaich believes that many of Paneras competitors have already implemented this strategy so it was necessary for Panera to follow suit (Walkup, 2007). Placement Panera is located throughout the US mainly in suburban communities where the cost of living is above average. As Shaich discussed in a recent interview, From the beginning, we focused on one group of customers, those who appreciated an inviting environment and were willing to pay for real food based on homemade artisan bread†¦We only open in community-oriented spots and try to create a place where shoppers, residents, and daytime workers can gather (Stewart, 2007, p. 2). Panera is creeping into the larger cities as well as hopefully expanding to international locations soon (Stewart, 2007). Competitor Analysis: McDonalds Panera is a great company that is currently doing very well. The future for Panera is only to expand and hopefully become a worldwide sensation similar to McDonalds. Although McDonalds is not one of Paneras direct competitors or worst threats, it will be interesting to look at the two companies side by side, since Panera is reaching to grow and gain a larger presence, while McDonalds is the perfect example of a company who has achieved vast growth and worldwide presence. Perhaps Panera can learn a thing or two from McDonalds. Organizational Culture McDonald’s restaurant is a fast-food chain well known for its Big Mac, Quarter Pounder, Chicken McNuggets and Egg McMuffin. The restaurant appeals to people of all genders, races and ages due to its speedy service of value-priced food, which may be one of the reasons for its success. Currently, McDonalds Corporation is traded publicly on both the New York and Chicago Stock Exchanges under the ticker symbol MCD. As of the end of the fiscal year in 2007, McDonalds had about 1165.3 million shares of common stock outstanding and was worth about $58 per share (Value Line Industry Report, 2007) The concept for McDonald’s originated in 1955 by Ray Kroc, a milkshake machine salesman. Ray had sold eight of his milkshake machines to the McDonald brothers hamburger restaurant in California. Desperate to sell more machines, Ray suggested to the brothers that they open up more McDonalds hamburger restaurants across the country. The brothers liked the idea but had no one to run their restaurants, so they appointed Ray to take on the challenge. Ray Kroc opened his very first McDonald’s in Des Plaines, Illinois (which is no longer in operation today as it is a museum containing historical articles from the companies past). In 1965 McDonalds went public with only 100 shares of stock, valued at $2,250 (equivalent to $3.3 million today). During the 1970s and 1980, McDonalds grew at a rapid rate. Besides significant domestic growth, where McDonald’s restaurants popped up anywhere from gas stations to shopping malls, the company also founded a charity for sick childre n and their families, and established a global presence. Today, McDonald’s Corporation is arguably the largest restaurant company in the world. It has rights to more than 30,000 McDonald’s restaurants worldwide, most independently owned and operated. (Note: McDonalds also owned Boston Market and Chipotle Mexican Grill but recently sold these chains) (McDonald’s, 2005-2006). Competitive Advantage The following points are just a few reasons why McDonalds owns 19% of the fast food market while Panera has just about 1%. McDonalds has been around for 50 more years than Panera. It has had more time to grow, develop and penetrate the fast-food market. McDonalds offers a good valued product for a cheap price. Although most people do not associate McDonalds with being healthy, most people do recognize the fact that its food tastes good and will not burn a hole in your pocket. McDonalds has better locations. While Panera has been concerned with remaining in well-to-do communities and suburban areas, McDonalds is everywhere. McDonalds targets a larger market. Due to Paneras cost and upscale atmosphere, McDonalds is more conducive to families than Panera. McDonalds also offers play-places and toys with kids meals. Not only is McDonalds kid friendly, but it is much more affordable for the average family. McDonalds has become an industry leader in charitable giving. One of Paneras key focuses is community, but due to the fact that McDonalds has more money, and prides itself on charitable giving, community charities are more likely to receive money from a McDonalds rather than Panera. Although Panera has begun to implement drive thrus at some locations, all McDonalds have drive-thrus. Because of its age, McDonalds has better distribution and supply chains. Unfortunately for Panera, the list could continue on and on. On a better note, Panera should not be discouraged because of this for two reasons. First off, McDonalds has much more experience and has been around for many more years. And secondly, Panera most likely is not losing tons of customers to McDonalds. Panera does have great product differentiation and caters to a slightly different market than McDonalds. The way I see it is McDonalds is the old and Panera is the new. Panera caters to what our society is becoming while McDonalds may eventually lose market share if it does not keep up with societies demands. Problems and Strategic Alternatives One important problem with Panera is its lack of international growth. In order to gain market share and increase revenues, the company must expand outside of the US. There was talk of Panera opening in Canada in 2007 but it is yet to occur. Although it is important for a company to do its homework and only expand when ready into markets that it becomes familiar with through research and experimentation, Panera is ready. Secondly, Panera needs to develop relations with local suppliers. Since it prides itself with always having the freshest ingredients but only does business with three suppliers, severe problems have the potential of occurring as a result of one little snafu with one of the three suppliers. Although this would create cost and possibly menu pricing differences depending upon the region of the country, if Panera builds relationships with many local suppliers the risk of losing large amounts of revenue over one problem with one supplier will dissipate. Lastly, Shaich is Paneras reason for success. He needs to be on the lookout for his replacement soon and begin training his protà ©gà © as soon as possible. By leaving Paneras future in the hands of a leader who does not have the same passion for success and work ethic as Shaich there is no guarantee that the company will continue to grow, or even survive. Recommendations After learning a great deal about one of my favorite fast-food restaurants, I have a few recommendations for the company. First off in order to grow, Panera should research other markets and cautiously make an entrance. The company has had little advertising expense within the US but it may have to resort to commercials or billboards in its new markets. Panera will also have to cater to international tastes through diversifying its menu in its new markets. Perhaps adding pancetta to its sandwiches in Italy or flan and churros y chocolate to its dessert menu in Spain will help to attract customers in these new markets. I also think that Panera will attract a larger customer base by offering alcoholic beverages during its dinner time hours. Since it already has a homey atmosphere perhaps the sale of alcohol will attract an older crowd to gather in the evenings and enjoy a pastry with an adult coffee beverage or one of Paneras gourmet salads with a glass of wine. Overall I think Panera is a good company that has a good foundation laid and is in an opportune position to grow. 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