For a long time in the restaurant industry, there were two types of dining experiences: fast food or table service. But Ron Shaich, founder and former chairman and CEO of Panera Bread, managed to create an entirely new category in between the two: fast casual. That innovative idea laid the groundwork for companies like Chipotle, Sweetgreen, and beyond.
In this episode, Shaich breaks down his core strategies for successful innovation in the restaurant industry: pinpoint what your customers truly want, differentiate your offering, execute with excellence, and focus on growth. He argues that these strategies aren’t only relevant for the food industry — they can be used to scale any type of organization.
Key episode topics include: strategy, customer service, entrepreneurship, going public, growth strategy, scaling entrepreneurial ventures, strategy execution, restaurants, fast casual, panera, chipotle, sweetgreen, innovation, disruption.
HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week.
· Listen to the full HBR IdeaCast episode: Fast Casual Food Pioneer Ron Shaich Explains How to Find a Niche — and then Scale (2023)
· Find more episodes of HBR IdeaCast
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