Read the case scenario: Panera Bread Company (2010): Still Rising Fortunes? By Joyce P. Vincelette and Ellie A. Fogarty
Strategic Alternatives and Recommended Strategy
1. Can the current or revised objectives be met through more careful implementation of those strategies presently in use (for example, fine tuning the strategies)?
2. What are the major feasible alternative strategies available to the corporation? What are the pros and cons of each? Can corporate scenarios be developed and agreed on? (Alternatives must fit the natural physical environment, societal environment, industry and corporation for the next three to five years).
a. Consider stability, growth and retrenchment as corporate strategies.
b. Consider cost leadership and differentiation as business strategies.
c. Consider any functional strategic alternatives that might be needed for reinforcement of an important corporate or business strategic alternative.
Recommended Strategy:
1. Specify which of the strategic alternatives you are recommending for the corporate business and functional levels of the corporation. Do you recommend different business or functional strategies for different units of the corporations?
2. Justify your recommendation in terms of its ability to resolve both long and short-term problems and effectively deal with the strategic factors.
3. What policies should be developed or revised to guide effective implementation?
4. What is the impact of your recommended strategy on the company's core and distinctive competencies?
Implementation:
A. What kinds of programs or tactics (for example, restructuring the corporation or instituting TQM) should be developed to implement the recommended strategy?
1. Who should develop these programs/tactics?
2. Who should be in charge of these programs/tactics?
B. Are the programs/tactics financially feasible? Can pro forma budgets be developed and agreed on? Are priorities and timetables appropriate to individual programs/tactics?
C. Will new standard operating procedures need to be developed?
Evaluation and Control:
A. Is the current information system capable of providing sufficient feedback on implementation activities and performance? Can it measure strategic factors?
1. Can performance results be pinpointed by area, unit, project, or function?
2. Is the information timely?
3. Is the corporation using benchmarking to evaluate its functions and activates?
B. Are adequate control measures in place to ensure conformance with the recommended strategic plan?
1. Are appropriate standards and measures being used?
2. Are reward systems capable of recognizing and rewarding good performance?