International Business Management & Operations
Project: (BUS/MBA 6750, Grade Received: A-)
Pret A Manager Should Expand To Israel and Canada
Pret A Manager (Pret) is not your typical local coffee or sandwich store. Pret operates between a restaurant and an on-the-go type of food store. Sell-by-dates do not exist on the sandwiches, they along with the coffee, are made fresh either in the restaurant or at a facility close by. The coffee which is the top seller is organic and that’s what Pret is looking to sell. Fresh, stylish and an organic life style.
Today on-the-go is crucial for the food consumer business, the consumer wants the product fresh and they want it quick. The price can fluctuate depending on quality over quantity in that respected order. The consumer doesn’t mind if they can’t afford the product, for it all depends on when they want it.
Pret is not a Starbucks or Dunkin' Donuts that offers fast food and cheap with a long shelf life. The success of Pret started in its 1986 opening with a strong bold mission. To create handmade natural foods which avoid chemicals, additives and preservatives for the fast food or unhealthy track. (Pret, 2015).
In 2015 with 30 years in the game Pret has grown its stores to over 350 worldwide shops. Pret now spans over several countries that include the United Kingdom, the United States, France, Hong Kong and Shanghai. They have grown a small healthy movement to a consumers market that is now targeted by companies all over the world. Pret has gained market territory with the same organic fresh new catch that is here to stay and a part of the future.
The company’s current position in their global strategy has been to leverage location by the consumer index for a healthier alternative. This alternative demand for products with less concentrated genetically modified organisms (GMO) and gluten is the healthier alternative choice. Pret has based their locations off of potential demand and created it into active customers.
Their unique alternative and attractive methods has lead Pret to a positive financial position. William Reed Business Media has done an article on their success from their financial reports. “The article focuses on the business performance of British sandwich store Pret A Manager. It mentions that the store has recorded a 9.71% increase in like-for-like sales in the 52 weeks period ending January 1, 2015. It adds that the total sales of the company increased by 16% while earnings before interest, taxes, depreciation and adjustments (EBITDA) increased 14%.” (Foottit, 2015). Pret has proven their game in market as well as through their financial standings.
New products and developments have accounted for an increase in sales with the businesses healthy food products causing the growth. “The chain saw an increased demand for 'grazing' options, such as protein pots, vegetable juices and more breakfast options as 57% of sales now occur outside lunchtime.” (Foottit, 2015). Pret has met their innovation and growth from their international brand, it’s now time take this to a new market and a new destination.
There has been a temptation in my mind for sometime now, it is leaving the physical commerce market to online. Specifically; not shopping for household appliances at a Walmart, CVS, or Costco and going to something online. Recently I somewhat made the switch by using Jet.com, a store for that purpose that seeks competition with amazon and was founded by former Quidsi co-founder and CEO Marc Lore (Diapers.com, soap.com, etc..). Relating this to the IMA's ethical standards is an approach that I thought about shortly after.
I would relate to the IMA's 3 overhead points of Competence, Confidentiality, and Integrity. Confidentiality for credit cards and private information has not changed, so I won't bore you on that. If Target an in store mega power had itself hacked, hackers can get to you and your info. Thus its safe to say that Jet.com is operating on the norm of confidentiality procedures.
Next IMA point is competence, Jet.com promises 2 day delivery and free returns given that they have no to limited product display costs (ie: a physical store) they are competent to meet their personal and customer expectations of fast shipping. Finally integrity, If I don't like my product they will refund it and they will send me it perfectly in the first place all together.
We have to have in mind that time is money and especially in some areas and especially with millennials, people just don't have the time. A trip to a local store means a 15 minute round trip, 10 minute shopping and then a 10-15 minute line. The ethical issues I had was, what to happen with peoples jobs who are working in a store like CVS, Rite-aid, or Walmart, obviously the shift creates an offset and a disadvantage to the physical commerce stores. As this is another discussion, I would just say that it is the same thing with Uber and Drive-In-Movie theaters. The market is almost living and changes itself over periods of time. So get on board before it can backfire.
IMA. (2015). IMA STATEMENT OF ETHICAL PROFESSIONAL PRACTICE . Retrieved from IMANET.org: http://www.imanet.org/docs/default-source/generalpdfs/statement-of-ethics_web.pdf?sfvrsn=2
Lore, M. (2015, 7 21). Jet.com competes with Amazon. (L. Gallagher, Interviewer) Retrieved from http://fortune.com/video/2015/07/21/is-marc-lore-using-jet-com-to-seek-revenge-against-amazon/
<From Shorter U Class>
I saw Paris Hilton on one of the entertainment shows. I got to say that she impressed me. She owns it, she's got it and in my books she's quite the business women. From her fashion brand, to her DJ gigs, it wouldn't surprise me if she was to host celebrity apprentice some day. Paris has class and sticks to her brand, she might be just another DJ now, but she capitalizes on her genuine personality which is what her greatest asset is.
Square Stumbles Into Possible Buyout
· Article confirmed by 2 and 3 people familiar with the company - Sq denied
· What they do
o Credit Card Processing - sq
o Online Market Place - mkt
o Quick Pay - Cash
o Starbucks partnership - Wallet
· Possible Buyers
o Ebay - Paypal
o Google - Checkout
o Apple - general billing
Not so many of you may even recognize the "Full House" picture previewed to the left. But then again you actually may want to. Why?
As the USA network started showing Modern Family, with a roll out of everyday starting this past November (now on selected nights) It immediately got my buddies and I hooked along with plenty of other new viewers.
How and Why?
The witty humor show showed a resemblance to the Full House 1990's sitcom. I am seeing both shows on everywhere and they simply complement one another. The portrayal of the "modern family" on networks like Disney channel are dumb and amateur. I think one of the most key standings is that in Modern Family at the end of the day the grown ups are still the grown ups and the kids are the kids (maybe except for Manny).
TCBY has reshaped the ice cream, and business world to an extreme new measure that herald's its future. Ice Cream stores were on the brink of destruction, until the new layout and method of operations rolled out. Most of us here can remember the old days when you wanted ice cream you waited in a line and before that you actually sat down and were served like a diner. Today and recently, that is all of the past. It is a self serve business and unbelievable amount of innovation available. People are buying for the experience and it will be business efficiency like no other.