Benefits Of Impact Assessment For Your Business

The strategic planning and monitoring of a business is what determines its success or failure. In every business, there must be an impact assessment. This is a process that is projected at structuring and offering support for the development of strategies. The process points out and evaluates the problem at hand and the objectives laid down. Main options for achieving the set objectives is identified by IA as well as the analysis of the probable impacts in the environmental, social and economic fields.

On the impact assessment line, there is the customer impact assessment. This is a strategy of managing the negative effects that come up from alterations to processes, policies or products and whichever that could have a disapproving impact on the employees or consumers.

Why do Companies Need Consumer Impact Assessment?

Many of the companies make alterations often times, which solve a certain need, nevertheless, the change made creates unexpected problems that affect the employees or customers. It can be frustrating to the customers having such results who will be dissatisfied, filled with more complaints and could end up losing businesses.

On the other hand, to have a system that ensures the ripple effects are pointed out and avoided accordingly, it can help to maximize the consumer relations and help the company to shun from any regretful errors.

What You Need to Know When Carrying Out the Process of Impact Assessment 

• Is it likely to bring a considerable change in the price and quantity of the product/service present in the market or available to the customers?

This will help to focus on the impacts on the consumers in relation to the traditional economic factors like quality, quantity and price of the goods and services available in the market.

• Will the Policy bring positive changes in relationships between the business and customers?

This goes beyond the traditional factors of economy as it addresses the alteration in the policies which could have impacts on the relationship between the business and the consumers.

• Will the Policy have significant negative impacts on vulnerable customers and their interactions with the company?

This consideration helps to bring together the analysis results that have been driven by the first 2 questions to evaluate if the new policy will raise substantial concerns that are related to the susceptibility of either some customers or every customer. This point also addresses equality and relevant issues that, in line, may be anticipated to lead to important customers’ concerns and complaints, and put the effectiveness and equality of the policy in substantial doubt.

The customer Impact Assessment is tailored to incorporate with your accessible methodology of process improvement. The process combines teaching and tools that help your project sponsors and the managers to determine if the customers are likely to be affected by a projected change, how their encounter will be changed, how the alterations will be evaluated, what will be the effect on the revenue and what behaviors or attitudes could change in the long run.

Impact assessment  helps to manage the relationship between the customers and the business and also avoid any negative impacts to the consumers that may result from any strategy introduced.

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Matthew Thomas
Matthew is the Lead Author & Editor of CXperience Blog. Matthew established the CXperience blog to create a source for news and discussion about some of the issues, challenges, news, and ideas relating to Customer Experience.
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