When Is An Issues Management Strategy Needed?

Strategic issues management (IM) involves having a system in place to monitor potential issues that could impact your organization or industry and having a strategy in place to positively impact the outcome of priority issues. The objective of issues management is to identify issues early and act strategically early on to decrease the probability of a negative outcome. In today’s complex world there are often an infinite number of potential issues that could impact any business or industry. This matrix can be used to determine which issues are in need of  an issues management strategy. Issues Management Priority Matrix Comprehensive IM strategies are needed for issues that have the potential to have a significant impact on your business or industry and have a high probability of occurrence.   Issues that could have significant impact but a low probability of occurrence should be monitored closely. In addition, contingency plans for developing a issues management strategy should be in place. For example, one might choose to identify potential allied stakeholders that could quickly be brought together to form a coalition and build an IM strategy should the probability of occurrence increase. Issues that have a high probability of occurrence but would have an insignificant impact on your business or industry should be monitored. Finally, issues with an insignificant potential to impact your business that also have a low probability of occurrence can be ignored. If you are interested in issues management, subscribe to the NSC Blog for additional articles on issues management. In the meantime, how do you determine what issues you develop issues management strategies for?

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