/EINPresswire.com/ (Hamilton, Canada)—What do Hurricane Katrina, the BP Gulf oil spill, and the Great Recession of 2008 all have in common? According to Dr. Nick Bontis, leading academic researcher and international speaker, all are massive catastrophes resulting in part from information bombardment.
“In each disaster, information was readily available that could have either prevented or reduced the degree of loss,” says Dr. Bontis, author of “Information Bombardment: Rising Above the Digital Onslaught.” “But the ability to decipher what was relevant and to implement an effective solution was hindered by an overload of information.”
According to Dr. Bontis, information bombardment causes problems at many levels. But unlike problems at individual and organizational levels, large institutions carry higher risks when information catastrophes strike. In many instances, human life may even be at stake.
“A federal task force knew a year in advance that New Orleans was at high risk if a major hurricane struck,” says Dr. Bontis. “Likewise, several economic indicators forewarned of the collapse of major financial institutions like Freddie Mac and Fannie Mae. It wasn’t a lack of information but an inability to synthesize the data and act on it that was the problem.”
Government accounts from Hurricane Katrina describe more than 1,800 deaths and over $110 billion in direct damages. As a result of the Great Recession, more than $11 trillion in stock losses occurred along with nearly 9 million lost jobs. Comparable losses have been observed in other information-related disasters including the 9/11 attacks and the BP oil spill.
“Unlike individuals and organizations that look internally to find effective information strategies, institutions must look more externally,” says Dr. Bontis. “As a result, their solutions have a much broader scope.”
In his book, Dr. Bontis describes five key solutions for institutions that wish to manage information bombardment:
* Development of industry or social benchmarks and metrics by which to compare performance
* Creation of alumni networks of experts circulating within an industry to share information
* Macrowikinomic tools to allow continually updated information forums from global experts
* Practicing accountability measures by holding individuals within institutions responsible
* Reduction of regulations and policies that hinder information sharing and collaboration
As an expert and leading consultant in knowledge management, Dr. Bontis understands the potential effects of information bombardment at an institutional level. In his book, he addresses these concerns as well as how institutions must seek responsible practices in order to avoid future disasters.
About the author:
Dr. Nick Bontis was named a 2010 top five speaker worldwide for management and one of the world’s top management gurus of 2010, along with such luminaries as Jack Welch, Tom Peters, Michael Porter, and Jim Collins. He is an internationally sought-after management consultant and keynote speaker, hand-picked by the United Nations, the US Navy, Microsoft, IBM, Accenture, KPMG, Century 21, and others to help navigate the knowledge era. He is a popular TV and radio personality, a leading academic researcher, and an award-winning, tenured professor of strategic management at McMaster University. As one of the world’s most-cited authors in the fields of intellectual capital and knowledge management, he has amassed over a dozen prestigious teaching and research awards. He was recently recognized as a 3M National Teaching Fellow, an exclusive honor bestowed upon the top professors in the nation.
For more information, contact Dr. Bontis at [email protected] or visit www.InformationBombardment.com.