Social Impact Assessment
Social Impact Assessment (SIA) is a comprehensive process designed to identify, analyze, assess, manage, and monitor potential social impacts associated with a project, encompassing both positive and negative aspects.
According to SEBI guidelines, Impact Assessment reports are obligatory for all registered or listed Social Enterprises. Additionally, Rule 8(3) of the Companies (CSR Policy) Rules, 2014 specifies that certain companies are mandated to conduct impact assessments:
- Companies with a minimum average CSR obligation of Rs. 10 crore or more in the immediately preceding three financial years.
- Companies undertaking CSR projects with outlays of at least Rs. 1 crore, completed not less than one year before the impact assessment.
Impact assessments are required to be conducted on a project-by-project basis, fulfilling both conditions mentioned above. Alternatively, companies can choose to undertake impact assessments on a voluntary basis in other cases.
Mr. Tayal leads the team for Social Impact Assessment at ESGPRO Consultancy. Partnering with qualified Social Auditors (NISM), he ensures the delivery of high-quality and timely reports, adhering to the necessary standards.
Strategic Advisor:
Having experience at both ends i.e. working in Industry and as well as consulting firms, advisory on strategic issues for growth of business is forte of Mr. Tayal. His extensive experience in M&A and dealings in managing assets in Western Countries brought value addition to the Indian Corporate sector including SMEs to take them at next level.
His services enables the young entrepreneurs to achieve business objectives by capitalizing on opportunities and being prepared to mitigate potential risks. In his Strategic advisory services, Mr. Tayal expertise in following spaces :
- Strategy Detailing : strategy formulation and detailing services help in articulating a clear strategy that can be cascaded to the business/ department level. Strategic alignment ensures that planned initiatives and processes are aligned with strategic business objectives.
- Business Planning includes assistance to both large, mature and diversified businesses and to emerging and growing ventures to transform their strategic direction into a structured and integrated business plan.
- Develop Organizational & Functional KPIs which are linked to the strategic vision and assists in tracking progress towards achieving corporate and department level strategic objectives.
- Feasibility Study of new projects/ investments to provide internal and external stakeholders an assessment of the viability, benefits and associated risks.
- Cost Optimization, improving performance and build sustainable competitive advantage thereby strengthening the overall strategic position of the organization.