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15BCL0037
DIGITAL ASSIGNMENT 9
B.TECH (CIVIL)
There are a variety of reasons, ranging from reducing cost and risk to creating and
capturing new opportunities, which underpin a company's decision to measure its
socio-economic impacts.
Measuring socio-economic impact can help companies better understand the needs,
aspirations, resources, and incentives of their customers – enabling them to develop
new products and services and improve existing offerings.
Yet, to effectively create value for the business and its stakeholders, measuring must
be aligned with a company's strategy, and integrated into ongoing business
performance management and reporting. As challenging as it sounds, this means
redesigning the scope of corporate strategy and processes across measurement,
management, and reporting.