Now that you have read about how companies differ, and how those differences can

Now that you have read about how companies differ, and how those differences can

Now that you have read about how companies differ, and how those differences can affect HR management practices, here’s a chance for you to begin applying those concepts. LG Electronics and Panera Bread are two very different, and very successful companies. LG is a South Korean multinational electronics company that produces mobile devices, home entertainment equipment, and appliances. Panera Bread is a fast-expanding bakery-café chain. LG’s motto is “Life’s Good.” This innovative global company focuses on providing electronic products that help customers live better lives. The company began as Lucky Chemical in 1947 with the first cosmetics product in Korea. The company quickly expanded into other types of products and went through several name changes before moving into electronics and becoming Lucky Goldstar, now shortened to LG, in 1995. LG was named the “World’s Best IT Company” by Business Week in 2004. The company reported first-quarter consolidated sales in 2021 of $16.90 billion in U.S. dollars, the highest quarterly results in the history of the company.
Panera was founded in 1981 as Au Bon Pain, Inc. In 1993, the company bought St. Louis Bread Co., and in time, it changed its name from St. Louis Bread to Panera Bread. Because of the success of Panera, in May 1991, the company sold all the Au Bon Pain, Inc., business units except Panera Bread and then changed the name of the company itself to Panera Bread. The rest, as they say, is history. Annual sales now exceed $5.9 billion.
Panera Bread’s mission statement is simple: “A loaf of bread in every arm.” Visit the websites of LG (www.lgcorp.com) and Panera Bread (www.panerabread.com). Use the information provided in the “About Us” sections and other parts of each company’s website to answer the following questions.
1. Prepare a chart comparing the two companies based on the organizational demand characteristics discussed in Chapter 1.
2. Discuss at least two of the key environmental influences that each company would likely face. Why would there be different key environmental influences for each company?