“A loaf of bread in every arm” is the mission statement of the Panera Bread Company (Vincelette & Fogarty, 2010, p.1). Panera started as a small bakery under the name Au Bon Pain and grew to become one of the largest fast food service companies in the United States. In 2008 it obtained the 5th overall score in the restaurant sector. “Panera Bread is widely credited with leading the national trend for specialty breads” (Panera Bread, 2011). Company Timeline Over $3 Million in Debt and Preparing to File Bankruptcy Kane partnered with Ronald Shaich. Shaich saw potential in Kane's business and the first strategic move was to offer expanded menu choices to increase morning sales. From 1981 to 1984 the company expanded its business, worked to reduce debt and centralize pasta production. In 1985, watching customers bring in deli meats to add to bread, Kane had his first “eureka moment.” The new strategy included fresh, quality sandwiches, bread and coffee. In 1991, Kane and Shaich took the company public. Unfortunately they faced limited growth opportunities. The restaurants catered to office workers and their locations were in large cities with high real estate prices. In 1993 the company acquired the Saint Louis Bread Company. This gave them entry into a market in suburban areas and later became the platform for Panera Bread. Kane and Shaich planned a new strategy, this strategy would include: the type of food they would have on their menus, the employees they wanted to interact with their customers, and what type of atmosphere they wanted to offer their customers. In 1995, the second “eureka moment” occurred, also through customer observation. Kane realized that people don't have... half the paper... average weekly sales have reached a new company's high. With their strong strategic goals and their willingness to change to meet the needs of their customers, I believe the company will continue to be successful. Works Cited Hunger, D. J., & Wheelen, T. L. (2012). Strategic management and corporate policy, towards global sustainability (13th ed). New York: Prentice Hall. Panera Bread Company. (2012). Investor Relations: Financial Reports. Retrieved from: http://www.panerabread.com/about/investor/Ruggless, R. (February 7, 2012). Panera's Q4 earnings rise 5.8%. Retrieved from: http://nrn.com/article/paneras-4q-earnings-increase-58Vincelette, J.P., Fogarty, E.A. (2010). Panera Bread Company (2010): Still Rising Fortunes? Retrieved from: http://csuglobal.blackboard.com/bbcswebdav/pid-394203-dt-content-rid-29343_2/courses/KEY_MGT510/MGT510_Mod6CT_Case29.PDF