What is impact study and its benefits

1:41 AM RAWAT 1 Comments

CSR which is commonly called as corporate social responsibility is the responsibility of the business organizations towards their employees, suppliers, investors, stakeholders, community environment and consumers.

 There is no fixed definition to CSR but it is clearly defined as transparent business practices based on ethical value in compliance with legal requirements and respecting the sentiments of people of the community and protecting the environment too.

Corporate social responsibility assessment is the study of company’s strategy in response to upcoming opportunities and issues. It helps the company to judge itself in context two corporate social responsibility activities. 

This assessment is carried out at the request of the client or stakeholders. This assessment gives an accurate view of corporate social responsibility status so that the important decisions can be taken for the future. Assessment helps to identify CSR loopholes and the opportunities that have and potential so that at the organization will make an improvement in decision making process.

There is a process of social impact assessment of development projects which is stated below
1. Firstly the CSR team is assembled which comprises of their leaders working on the project.
2. The working definition of corporate social responsibility activities is developed.
3. The legal requirements for implementing the project are identified.
4. The documents and activities are reviewed thoroughly.
5. Then the stakeholders are engaged in those activities.

There are many developed projects undertaken by the corporate which come under their social responsibility activities towards a community e environment and the people of the company. The environmental project it is one of the develop project which is assessed carefully. There are few benefits of assessing the developed projects

1. Reduce cost and time of project implementation.
2. The modifications or changes are made in future projects.
3. The acceptance of project is increased.

The businesses should act in a manner that benefits the society social responsibility is an important factor for seeking investment through investors that are profitable and also contributing to the welfare of society and environment. The impacts of corporate social responsibility activities are studied and recorded for future use.

There are few benefits of CSR impact study

1. It helps the future researchers so that they could analyze there is search on the basis of study conducted by past researchers.

2. It helps the community to improve itself according to the study the community should focus on the factor of health economy cleanliness and other social aspects.

3. It is a boon to the Future generations as they can be form or use the impact study to improve their conditions. The impact study is beneficial to the local communities too. 

It helps to maintain a healthy environment, human health is improved, biodiversity is maintained, decrease use of resources. There are no conflicts of fights on using the natural resources and it also involves an increase in the use of community skills and knowledge.

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