Final answer:
ITIL defines impact as the consequence of an incident on business operations, which can affect customers and revenue, relevant to all stakeholders relying on technology.
Step-by-step explanation:
ITIL defines impact as the effect an incident is having on the business. In the context of ITIL, an incident that disrupts service can have significant repercussions, affecting not only the business operations but also customers and potentially leading to a loss of revenue. This is particularly true in our heavily technology-dependent society where various individuals and organizations, such as individual people, businesses, utility companies, schools, universities, and governments, rely on functioning devices and IT services to conduct their daily activities efficiently.