Economic appraisal
The tough economic environment is here to stay
In the ‘new normal’, businesses from all sectors of the economy and public bodies will have to behave more strategically to be profitable and sustainable. They will need to accept and understand the new macroeconomic reality, while acknowledging that consumers are becoming more savvy, the challenges and opportunities of the digital age, and that issues like sustainability and demographics are climbing up on the political agenda.
Businesses who excel will find their commercial opportunities in improved pricing, considered and financially profitable investment, and the emerging markets.
Accessing your total impact
Total Impact Measurement and Management (TIMM)
The business context is changing in a way that affects organisations across all sectors of the economy: for example:
- Values in society are being reassessed;
- External stakeholders are gaining more influence; and
- Government policy and regulation are changing.
Businesses therefore need to understand their impacts so that they make the best choices such as when they are considering key strategic questions, evaluating investment options and developing partnerships and alliances.
To do this they need to have a clear understanding not only of the short- and long-term direct financial effects but also the wider economic, fiscal, social and environmental impacts. Our team brings industry and economic knowledge together to analyse comprehensively the impacts of diverse business decisions.
Our impact assessments typically involve quantifying and valuing any or all of three types of impact:
- Direct impacts - such as the employment, output and fiscal contributions attributable to the sector/company/investment itself;
- Indirect and induced impacts - employment and output supported by the sector/company/investment via purchases from its supply chain and by the spending of those employed directly or indirectly by the sector/company/investment; and
- Wider economic, social and environmental impacts – for example, the extent to which the activities of the relevant sector/company/investment contribute to improved productivity and performance in other sectors of the economy.
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