Panera Bread is known for its line of popular bread, which includes the original baguette, free range chicken and wild rice soup, and quinoa-farro salad. As a quick service restaurant (QSR), the company has more than 2,000 locations nationwide. Headquartered in Louisville KY with headquarters in Boston MA and St. Louis MO, it was founded by Scott Davis in 1981.
Why Panera Bread is recommended
1. Quality
Panera Bread is able to create a reputation of providing quality food that is also delicious and healthy. For example, Panera Bread includes the slogan in their marketing campaign: “Food as it should be”. The claim is that Panera Bread serves simple, delicious food with few ingredients with quality and integrity.
2. Management
Panera Bread’s success story adds to its management abilities. Its management is able to create the appropriate strategies, change their business model, and be innovative and creative by creating new items on the menu and using technology in order to reach their consumer from home or from work.
3. Innovation and Creativity
The company is always innovative and creative to keep up with the changes in the market. What they are doing is to provide quality food with new products, management styles, and technology. In fact, Panera Bread uses its franchisees’ creativity to develop new foods from scratch. This practice of in-house development helps them be innovative businesses that serve a variety of people from all walks of life.
4. Intellectual Property Protection
Panera Bread does not accord their intellectual property rights easily or cheaply, which is one way to make sure that the company remains competitive in an industry marked by competition for ideas and products. Panera Bread knows that by keeping these rights, the company will be able to compete effectively and safely.
5. Outsourcing
Panera Bread’s practices of outsourcing for its suppliers are a good example of how the company values innovation and creativity in its business strategy. Panera Bread uses several suppliers to ensure that they get high-quality ingredients at low prices, which helps them rebut their competitors’ “made in China” claim. At the same time, it keeps the quality of ingredients high by encouraging its suppliers to meet their standards while also making sure that they can give high-quality products at low prices.
