IHOP was not always a multinational conglomerate. It is now one of the nations leading sit down, cheap restraint chains. With over 1,000 locations world wide it is a commonly known restraint. As of recent IHOP has had a 52-week high of 39.4 and a low of 27.04. Recently, IHOP rang the bell of the NYSE in celebration of the kick-off of the National Pancake Day (March 4) and the launch of a brand rejuvenation strategy for IHOP, which celebrates its 45th year in business this July. In honor of the occasion, Julia A. Stewart, President, CEO, COO rang the bell.
Before laying out the entire history of the International House of Pancake here is some simple background information: IHOP Corp. is a family restaurant chain that serves a wide variety of breakfast, lunch and dinner selections. Offering more than 16 types of pancakes, as well as omelettes, breakfast specialties, burgers, chicken and steaks, IHOP's menu is designed to appeal to people of all ages. IHOP restaurants are developed, operated and franchised by the Company. As of December 31, 2003, there were 1,165 IHOP restaurants in 48 states and Canada to be exact.
In 1958, IHOP Corp. traces started up by opening of the first International House of Pancakes restaurant in a suburb of Los Angeles, Toluca Lake, California. The American eating public quickly took to the concept of a restaurant based on one of America's favorite foods…. pancakes. Within four years the number of units had increased to nearly 50, with many of the restaurants being operated by franchisees. That is incredible when you think about it since it takes a while to start up a franchise. Obviously past, present, and future
In 1961 the company became publicly traded under the name International House of Pancakes. The remainder of the decade was a time of acquisition for the company. The company acquired both food and non-food businesses during this period with a strategy of becoming "The Franchise Company." Because of these acquisitions and to reflect properly the diversified conglomerate become, the company adopted the name International Industries, Inc. in 1963. Restaurant brands under International Industries control during the 1960's included International House of Pancakes, Orange Julius, Love's Wood Pit Barbecue, Golden Cup Coffee Shoppes, The Original House of Pies, Wil Wright's Ice Cream Shops, Woody's SmorgasBurger, The Dog House and Copper Penny. Non-food brands included The Big Brake Safety Center, The Golden Oaks Retirement Homes, United Rent-Alls, House of Nine, and Sawyer College of Business.
Moore, L 1997, The Flight to Franchising, US News & World Report. June 10, pp. 78-81.
The fast-casual restaurant is one of the most competitive and fastest growing industries in the world. Chipotle has thought to have reinvented this category and this has led to their explosive growth in the early stages of the company. As it has leveled off, however, one can see where mistakes have been made leading to the sharp decline in their sales and stock. Starbucks has continued to grow, but has also seen declines in their stock. Comparing these companies, one can see how each have went from standalone stores to market leading companies. They must continue to innovate otherwise they will be seen as just another restaurant and no longer see growth.
In her article “College Is a Waste of Time and Money”, Caroline Bird attempts to pursued her readers that colleges are overflowing with students who don’t belong there. Her article first appeared in Psychology Today (May 1975). Since this material is outdated, I find it hard to believe that most of the responses by students and parents quoted in the article still hold true. The author has set out to pursue the readers that college is a bad and unnecessary choice for today’s youth. Yet the author holds a bachelors and a masters degree from two different universities. I would think that if she thought college was really a bad choice and a waste of time and money, she would not have gone back to get her masters degree.
In recent years, many have debated whether or not a college education is a necessary requirement to succeed in the field of a persons’ choice and become an outstanding person in society. On one hand, some say college is very important because one must contribute to society. The essay Three Reasons College Still Matters by Andrew Delbanco shows three main reasons that students should receive their bachelor’s degree. On the other hand, many question the point of wasting millions of dollars on four years or maybe more to fight for highly competitive jobs that one might not get. Louis Menand wrote an article based on education titled Re-Imagining Liberal Education. This article challenges the main thought many americans have after receiving a secondary education. Louis Menand better illustrates the reasons why a student should rethink receiving a post secondary education better than Andrew Delbanco’s three reasons to continue a person’s education.
In this society, almost every high schooler is told they need to go to college in order to be successful, but that is not necessarily true. Stephanie Owen and Isabel Sawhill questioned if everyone needs college to be successful in their article, “Should Everyone Go to College?”. In the article, Owen and Sawhill discuss that even though college is very helpful for many people, but for some the benefits of a college education do not outweigh the costs. Owen and Sawhill discuss this and show the statistics on the pricing of college and general student success throughout the article. Overall, this article does a very well job showing ethical appeals with statistics, does an average job with emotional appeal, and does a very well job showing logic
Leaders lead. They lead by example, by demonstrating and living out organizational values, and by being seen. A good leader will never ask a teammate to do something they are not willing to do. Leaders also clearly understand the central purpose of their organization and ensure it is crystal clear to every member of the team...and they are relentless in pursuing it.
The Panera Bread Company began in 1981 as Au Bon Pain Co., Inc. Founded by Ron Shaich and Louis Kane, the company thrived along the east coast of the United States and internationally throughout the 1980’s and 1990’s and became the dominant operator within the bakery-café category. In the early 1990’s, Saint Louis Bread company, a chain of 20 bakery-cafes were acquired by the Au Bon Pain Co. Following this purchase, the company redesigned the newly acquired company and increased unit volumes by 75%. This new concept was named Panera Bread. Top management chose to sell their previous bakery-café known as Au Bon Pain Co. due to the financial and managerial needs of Panera. In order for Panera to become the success top management visualized all resources needed to become available for Panera. Panera Bread is now the most successful bakery-café in the category in which there are currently 1,777 bakery-cafes in 45 states and in Ontario Canada (Panera Bread).
After completing this assignment I realized that my time management is very “mediocre” according to my scores on my time management quiz. I was actually very surprised because I thought that my time management was acceptable not great but at least decent. I scored 41 points on my quiz, meaning that I do need to improve my time management. Though, I am actually very close to being good, the score for good is 45 points. Time management has always been an issue for me. I plan myself on a daily basis to try to accomplish everything I must do. However sometimes even with a schedule there are certain things we have no control of. Just like the book establishes these are obstacles that I must overcome. Some of the best tips I found in the book are
Everyone has a different definition of what makes someone a leader. My definition is not a statement of requirements, but more so a list of characteristics. I believe it takes a strong, independent, dependable, open-minded, thoughtful, selfless, smart and creative, someone who can work well with others, able to work under pressure, respectful, and experienced individual to be a leader. I believe it is someone who knows who they are and know their morals, someone who has already found who they are in life and accepts who they are, making what I believe the most important characteristic is, is someone who knows and sticks with their personal values. If someone cannot respect values and stick to their word, then how can they be a leader of others? A leader takes a lot of work, but if you are good at it, it may seem like nothing. Some people are leaders and do not even know it, like role models. When little kids look up to certain people that have impacted their lives in a way, they will see those people as role models. Truth is, leaders are everywhere and not everyone knows or can see that. It's not always the person who stands out for taking control or being bossy, but the one with the characteristics and high values that do the right things, even when no one is watching.
Many kids beginning the college - decision process may be feeling lost at first, and ”By telling all young people that they should go to college no matter what, we are actually doing some of them a disservice.”(Owen and Sawhill 209) For a seventeen/eighteen year old, going to college is arguably the biggest decision that they have had to make in their life thus far, and having the facts that Owen and Sawhill produce can be invaluable to the decision-making process. It is clear that the purpose of their essay is to better inform these young adults and guide them on their journey that is life after high school. The primary claim that Owen and Sawhill attempt to drive in using rhetorical appeals is that on average, having a college degree will lead to a higher income than not having one; however, it is not universally
Demand for Panera franchising opportunities was very high, which allowed Panera to be picky about where and with whom they would do business. Panera determined where bakery-café locations could be. The franchisees bore the cost of opening new locations, and were required to obtain their ingredients from the home company. Expansion using the franchise model provided many upside benefits for Panera, while limiting the downside r...
Many Scholars characterize the core qualities and skills necessary for an effective leader. Useem defines leadership as “Creating a vision and translating that vision into actions”. Historically, an effective leader was assumed to be exceptionally knowledgeable, authoritative, and dominate. Those leaders applied the command and control method to lead an organization. With the passage of time, this definition has been changed. The modern definition of an effective leader is honest, courageous, trustworthy, inspirational, and result-oriented. Today’s leaders create shared values and vision, and empower others to achieve their targets.
Schultz, Howard, and Joanne Gordon. Onward: How Starbucks Fought for Its Life Without Losing Its Soul. New York: Rodale, 2011. N. pag. Print.
The main challenge is to determine how Panera Bread can continue to achieve high growth rates in the future. Panera Bread is operating in an extremely high competitive restaurant market which forces the company to improve and to grow steadily for staying profitable. The company’s mission statement of putting “a loaf of bread in every arm” is just underlying Panera’s commitment for growing. They are now in a good financial situation and facing growth rates of up to 20% per year in a niche market that has a great growth potential. In the next 7 years the fast-casual market is expected to grow by 500% in sales to a total of $30 billion.
Starbucks is a worldwide company, known for is delicious brews of coffee and seasonal varieties of tasty drinks for any occasion. Starbucks opened with two main goals, sharing great coffee with friends and to help make the world a little better. It originated in the historic Pike Place Market of Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker. The creation of Starbucks’ name came from the seafaring tradition of early coffee traders and the romance evoked from Moby Dick. At the time, this individual shop specialized in the towering quality of coffee over competitors and other brewing services enabling its growth to becoming the largest coffee chain in Washington with numerous locations. In the early 1980s, the current CEO Schultz saw an opportunity for growth in the niche market. After a trip to Italy he brought back the idea of a café style environment of leisure and social meetings to the United States we now see in Starbucks locations today. Schultz ultimately left Starbucks to open his own coffee shop, Il Giornale which turned out to be a tremendous success. Fast forward a year later, Schultz got wind that Starbucks was going to sell all their components of Starbucks including their stores and factories, he immediately acquired the funds to buy Starbucks and linked both operations. Within five years he was able to open more than 125 stores starting in New England, Boston, Chicago, and gradually entered California. He wanted Starbucks to be a franchise system based on the mission of telling the truth and emphasize the quality,