TGI Friday’s is a well-known name nationally and worldwide. However, just like any other business struggling, TGI Friday faces challenges every day. Certain factors in your general and specific environment pose a threat to the company. There are many ethical issues around business that contribute to social responsibility. However, TGI Friday’s does not allow these factors to prevent them from continuing to grow and prosper in an ever-changing economy.
Like any other business, TGI Friday’s is affected by its general and specific environment. The general environment of a company is the economic, technological, sociocultural and political trends that indirectly affect all organizations. TGI Friday’s economic trends are extreme. His business operates seasonally, as seen in any other restaurant. Business struggles and income are low during the fall months as trends are observed that customers eat at restaurants less frequently during these months. Technology is an extremely important factor in the operation of TGI Friday’s. From the smallest use of technology when rewards customers register online, to the largest use of technology when servers use computers to receive orders, to the most important use of technology when the accountant uses computers to do the ordering. business accounting, technology absolutely runs the organization. When it comes to the sociocultural component, TGI Friday’s is not targeting one demographic. There is a wide variety of customers, employees, and managers that can be found within the walls of the organization. The political trends affecting TGI Friday’s are constantly changing. Many different laws regulate the way the business is run, such as advertising laws, safe alcohol awareness laws, food safety regulations, and even employee policies.
The specific environment of a company is made up of factors such as customers, competitors, suppliers, industry regulations, and advocacy groups. Some would say that customers run the business. The fact is that without customers, a business would not survive because it would not make money. Competitors threaten TGI Friday’s every day when they develop new menu items that are similar to the items on their menu and sometimes even cheaper. Suppliers can also run a business, because if a business doesn’t have supplies, they can’t open their doors. There is an industry regulation that guarantees that each TGI Friday’s has the same atmosphere and that the customer gets the same experience no matter where they go. Advocacy groups threaten the company because they constantly try to influence the way the company is run and they also change their practices. These are just a few of the threats TGI Friday faces on a daily basis, yet it is not uncommon for any business to face these threats and many more.
TGI Friday’s has a social responsibility to increase its profits in an ethical manner. However, behind closed doors certain unethical practices are linked that could hinder the flourishing of the business. As seen in the movie Waiting, many restaurant employees take shortcuts to make their work easier. These types of employees could be called “half” workers. However, TGI Friday’s has a social responsibility to ensure that its customers receive the best experience every time they enter the restaurant. Not only is it morally corrupt to allow these shortcuts to occur, it is also illegal and disgusting. TGI Friday’s strives to achieve a sanitary and healthy environment for every customer, at all times.
TGI Friday’s is a staple not only in the American diet, but also in international diets. Although its primary focus is to prevail in the United States of America, global forces affect how the company is run and where new restaurants are developed. Sixteen countries include a TGI Friday’s restaurant and the business continues to grow. It goes without saying that TGI Friday’s is handling extremely well in the ever-increasing globalization of the economy.
The TGI Friday brand has grown larger than the founders envisioned in 1965 when they opened the first restaurant. The business has wiped out the competition, not allowing factors such as the general and specific environment, ethical problems or globalization to become a ruin for the company. Through a combination of franchises and corporate locations, TGI Friday’s has grown into one of the largest restaurant chains in the world. Your food is not only served in restaurants, but recently your food has been produced and packaged to be sold in grocery store freezers. Both customers and employees agree that TGI Friday’s is a fun and welcoming environment.
