Employing Strategy in a Competitive Environment Essay

Employing Strategy in a Competitive Environment - Essay ExampleStrategic management is essential in necessitating telephone circuit both short term and long-term development and expansion. However, business professionals gain asserted that the formulation and instruction execution of a working business strategy is an extremely complex process that requires an all-inclusive mechanism. More all over, consistent valuation of the telephoners strengths, weaknesses, threats and opportunities have as well proved to be very productive and submissive in the entire process of formulating a workable strategic management plan. This essay will therefore create an environmental scan for the Panera bread companion indicating the most significant environmental threats. Panera scar is a chain of cafe and restaurants in Canada and United States of America. The companys headquarters are situated in Sunset Hills, Missouri. The Panera Bread also has a bakery for producing fresh breads and other bakery products. Apart from inter change over breads and other bakery products, Panera Bread sell other products including cold sandwiches, muffins, bagels, soups and salads. Moreover, restaurant businesses in modern markets have proved to be very complicated and competitive. Over the years, the industry has encountered a consistent flow of new-sprung(prenominal) entrants that result in increased struggle for any company to make profit. Therefore, the Panera Bread Company has real consistent tilt at all levels including specialty foods as well as fast effortless dining. The main competitors of Panera Bread are Subways, Starbucks and McDonalds. Despite the three main competitors, Panera Bread also encounters lively competition from other competitors at local, regional and national level. Increased competition has a negative impact on the companys market share and revenue. As a result, to sustain its profitability, Panera Bread ought to frequently return and amend its menu to a ttract and sustain new and regular customers, fulfil the ever-changing customer demands and preferences, as well as reacting and responding to various seasons of the year. By consistently changing its menu, Panera Bread would have an advantage over their competitors such as subways and McDonald who do not always change their menu forcing customers to loss interests in their products and services. In addition, in restaurant industry, there is no perfect substitute for food and drinks. Therefore, there is a relatively particular(a) threat on food preparation. However, due to the existence of different operational and cultural background, Panera Bread Company is sometimes compelled to change their coffee selection to meet customers needs and cultural demands. Consistent change of coffee selection has emerged to be a very expensive and complicated process for Panera Bread restaurant (Panera Bread Company, 2012). Moreover, the company has created an atmosphere that encourages consisten t interaction and consultation among all players in the organisation including the companys customers. To advance the competence of its employees, the companys management is as well known for holding consistent strategic meetings with their employees and loyal customers. However, to counter the emerging alternative such as working from home, the company should offer an accommodating atmosphere to its employees in order to facilitate effective and uninterrupted working environment. Moreover, the limited barriers to new entry in restaurant markets have significantly increased in the market. It is