A business impact assessment is one which outlines the impact of a business project, whether negative or positive. It must be wholly unbiased and honest. It is often conducted by a business enterprise itself or by government agencies in order to assess the risks associated with a particular project before granting funds or giving the nod in general.
Sample Business Impact Assessment
Name of the business: Standard Petroleum Pvt. Ltd.
Business venture of: Oil Magnates Pvt. Ltd.
Business impact assessment report commissioned by: Ministry of Petrochemicals, Government of India.
Purpose of business impact analysis:
- Petroleum being such a precious commodity, the government needs a business impact assessment before allowing private companies to operate without restriction.
- Some of the determinants used in this business impact assessment include location, cost of petroleum and diesel, number of outlets, role in impacting the price fluctuations of petrol, disposal of waste etc. [For more detail on each of these factors individually, check attached documents and presentation]
- This business impact analysis will allow the government to decide upon the kind of freedom it will grant a private company in the petroleum and diesel scene. Being an imported commodity, prices will be affected by the number of distributors on the market.
Findings of this business impact analysis:
- The results have been positive. Our findings indicate that the presence of a private company will help to stabilize the prices of petroleum for some time.
- The increase in the number of outlets will benefit customers as well.