Strategic issue management as change catalyst
Purpose ‐ Under high turbulence conditions, a company's periodic planning cycle needs to be supplemented with a dynamic, real-time, strategic-issue-management system. This paper aims to investigate this issue.
Design/methodology/approach ‐ A case
study of a prominent Australian healthcare organization shows the eight steps for how its management used the strategic issue management (SIM) process to identify, rank and address strategic issues in a rapidly changing business environment.
Findings ‐ The paper finds
that, for companies entering a period of turbulence, the tracking, monitoring, and management of strategic issues become s imperative so that the corporate, strategy, and capability do not fall out of alignment.
Practical implications ‐ The company's survival may well
depend on having a well-developed process for decision-makers to rapidly put forth critical rebalancing responses.
Originality/value ‐ In the SIM approach, external issues are manifest as opportunities and threats, and internal issues as strengths and weaknesses. Issues
are viewed in the context of the environment, strategy, and capability (E-S-C) framework. A 3×3 strategic issue priority matrix is used to map the level of urgency and potential impact of each issue.
Keywords: Corporate governance; Enterprise risk; Management capabilities; Risk management; Strategic decision-making; Strategic issue management; Strategic-issue-management system; strategic capability management
Document Type: Research Article
Publication date: 06 September 2011
- Previously published as The Antidote
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