Impact Assessment
The evaluation of the effectiveness and influence of market research on business outcomes, helping to demonstrate value and guide future investments.
Implications
The process of evaluating the potential effects of a proposed action, policy, or project on various stakeholders, environments, or systems, often used in environmental planning, social policy, and business strategy to anticipate and mitigate negative impacts.
Example
Example: A city government conducts an impact assessment to evaluate the potential effects of a new public transportation system on local communities, traffic patterns, and the environment, informing the decision-making process.
Related Terms
Different from a simple feasibility study, which assesses the practicality of a project, an impact assessment specifically focuses on the broader consequences and effects of the proposed action.
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