A social Impact Assessment is a formal review of a company’s endeavors, procedures, and code of conduct regarding social responsibility and the company’s impact on society. A social Impact Assessment is an assessment of how well the company is achieving its goals or benchmarks for social responsibility.

A social Impact Assessment is an examination of how a particular business is affecting society. The assessment helps companies to determine if they’re meeting their objectives, which may include measurable goals and benchmarks. A social impact assessment serves as a way for a business to see if the actions being taken are being positively or negatively received and relates that information to the company’s overall public image.

In the era of corporate social responsibility, corporations are often expected to deliver value to consumers and shareholders as well as meet environmental and social standards. Social Impact Assessment helps companies create, improve, and maintain a positive public relations image. For many companies, a good public perception helps foster a positive image of the company and ultimately reduce negative impacts on earnings from bad press.