The level of involvement that a business may exercise when it comes to social matters and the community has changed. In the past, businesses focused on job creation and employee welfare. Today, social assessment reaches much further. The social climate now plays an active role in how far a business will go when it comes to social responsibility. More often than not, businesses now take an active interest in their community and seek to develop programs that will benefit both the community and the company.
What is Community?
As a result of industrial globalization, the word community has taken on a broader meaning. It now encompasses the other country’s a company may do business with. If partnering foreign businesses have poor labor practices there is often a push to create a code of conduct that will impact foreign business partners and how they operate in their own country. This is proof that the practices of other businesses in far way places play a part in a company’s social impact assessment. Perceived social responsibilities continue to affect the standards that businesses use to measure their social impact. One company’s interaction with another business in another country, like Miltek New Zealand, could have an impact that couldn’t be anticipated without taking a good hard look at every relevant factor.
The Social Impact Assessment
When a business takes an active interest in measuring its social impact, they are expressing a concern and a desire for everyone in the community to have equal access to resources. They are are also showing concern for the impact that their business may have on the community. This concern helps to develop better employees, a better public image, and more customers that are interested in companies that care about the future of the community and a better quality of life.
Social impact assessment seeks to measure how a business’s practices affect the basic needs and quality of life of the people in the community and beyond. It’s also a measure of how a business’s current practices may affect future resources. This is an important area of concern for modern-day businesses. Success is no longer purely financial. It encompasses many things both financial and social when it comes to its true impact and success.