The increasing need to account for the many factors that influence fish population dynamics, particularly those external to the population, has led to repeated calls for an ecosystem approach to fisheries management (EAFM). Yet systematically and clearly addressing these factors, and hence implementing EAFM, has suffered from a lack of clear operational guidance. Here, we propose 13 main factors (shift in location, migration route or timing, overfishing (three types), decrease in physiology, increase in predation, increase in competition, decrease in prey availability, increase in disease or parasites and a decline in habitat quality or habitat quantity) that can negatively influence fish populations via mechanisms readily observable in ~20 population features. Using these features as part of a diagnostic framework, we develop flow charts that link probable mechanism(s) underlying population change to the most judicious management actions. We then apply the framework for example case studies that have well‐known and documented population dynamics. To our knowledge, this is the first attempt to provide a clearly defined matrix of all the probable responses to the most common factors influencing fish populations, and to examine possible diagnostics simultaneously, comparatively and relatively in an attempt to elucidate the most probable mechanisms responsible. The framework we propose aims to operationalize EAFM, thereby not only better diagnosing factors influencing fish populations, but also suggesting the most appropriate management interventions, and ultimately leading to improved fisheries. We assert the framework proposed should result in both better use of limited analytical and observational resources and more tailored and effective management actions.