Why Is It Important For Success?

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Abstract Success is a word often thrown into conversation when referencing career or business achievements. It is a small word but it carries the weight of being an indicator. What does it indicate? Pick any situation and if success is the end result, it means the outcome is favorable. For example: one passed an exam, obtained a new job, acquired a company, or has been elected to Congress. Conversely, assessing a situation as a failure means the outcome is unfavorable. In business, it is often necessary to analyze a company and make a determination as to the overall health of the company. This is a process that can and should be done internally on a regular basis by upper management. In order to achieve success, a business must constantly…show more content…
The Panera Bread Company is the target of this formal analysis. The Panera Bread Company: A Strategic Company Analysis Context What is one of the largest expenditures a household incurs after the actual roof overhead – food! Most Americans eat outside of the home almost five times a week. When one starts doing the math, this number grows exponentially. Imagine an average household size of four individuals, multiplied by five meals outside the home per week, multiplied by fifty-two weeks per year, multiplied by the average cost of $12.75 per meal per person, and suddenly there is an additional nine hundred dollars of discretionary spending that is on the table per family each month (Hamm, 2014). The challenge for any industry is to compel consumers to take that discretionary income and put it back into the economy via spending. The focus of this paper is the Panera Bread Company – specifically, how it has been a force within the restaurant industry and how, if it all, it will continue the trend. Each year the National Restaurant Association publishes an Industry Forecast. For the year 2015 the annual report projects that the restaurant industry as a whole will generate $709.2 billion dollars in sales. Although this is a large number, it is still relatively meaningless without a baseline to serve as a reference point. In 1955, for every single dollar being spent by consumers, the restaurant industry received a quarter of it. Today, for every single
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