Panera Bread Company is one of the leading firms in bread industry in the United States. However, the management should be able to come up with a detailed plan of how to manage the dynamic market in order to achieve the desired success.
For this to be possible there is a need to have a clear mission statement that would help define the path that a firm plans to take in achieving its success. Mission statement shows the promises that a firm makes to its customers, and defines how it seeks to keep this promise. The following mission statement would be appropriate for this firm.
We strive to be the leading firm in offering quality bread and related products not only in the United States but also in other regions around the world. To achieve this, we believe in offering products that meets standards of our customers. We also plan to open a number of franchised cafeterias in various parts of the world to help in this growth.
The above mission statement defines the path that this firm plans to take in meeting its objectives in the market. The market is increasingly becoming competitive, and it is only firms that have clear objectives that can be able to withstand the competition. The dynamism also poses a serious challenge because it forces firms to be able to change with the changing market forces.
The principles defined in the mission statement would be a clear indication of the extent to which a firm is willing to go in offering quality to their customers as a way of making them satisfied. It is necessary to understand how the above mission statement meets this criteria. In the first part of this statement, it is clear that the firm’s main focus is to offer quality products to its customers.
This is important in attracting more customers to make purchase of the firm’s products. It may not be easy to achieve this because it would require the firm to make some sacrifices in order to offer this quality. In this first part of the mission statement, it is also clear that the firm seeks to go beyond the current market boundaries of this firm in order to explore the world market. As stated in this statement, the firm will not be ignoring the current market.
It will continue serving the current market while looking for other foreign markets abroad. Expanding the market share beyond the current markets means that this firm will have a higher capacity of dealing with competitors in the market.
The second part of the statement explains how the firm plans to meet the promise of offering quality products to the firm. It states that Panera Bread Company will be keen on the standards in the market. This statement emphasizes on meeting and even exceeding market standards when meeting customers’ needs.
This section explains how quality will be met by this firm. The last part of the mission statement explains how the firm plans to achieve its objective of moving to various parts of the world. It may not be an easy task moving to foreign markets around the world. However, this firm must find a way of doing so because of its commitments in the first part of the statement. This section explains that this will be achieved through franchising.