Let's imagine you are in charge of supply orders at a large bakery. You place a phone order with a new supplier for 150 unit delivery of 30 lb sacks of unbleached whole grain bread flour by 5 am on Tuesday morning. You reiterate the order and stress the importance of delivery between 3 am and 5 am Tuesday morning -- the bakers and the loading dock team will be expecting the flour needed for that day's work plan. Then that's what you expected to happen.
In other words, if you ran a bake shop and expected a 150 unit delivery of 30 lb sacks of unbleached whole grain bread flour by 5 am on Tuesday morning to make bread and roll dough, did the flour delivery arrive at 7 am and cause less dough to be made or did bakers have to stay later to finish? Was flour the wrong kind or of poor quality so it couldn't be used? Did everything arrive, but the driver created a hassle with his grumpiness or weird behavior?
Examples of business impact: completion delays, inaccurate results/reports, higher costs, customer complaints, fines, etc.Examples of personal impact: promises that you made that depended on did not get met, loss of trust, diminished reputation, frustration, etc.