3 plus 1

Three blurbs, and a thought piece.

Cost of not getting information right the first time. “Errors Continue to Plague Health Site,” Wall Street Journal, December 14-15, A1 http://on.wsj.com/19JI6E5 (People may not know they need to refile until after they go to doctor).

Background checks on third party’s contractor matter. “Supposed Translator Said to Have Police Record,” Wall Street Journal, December 14-15, A11 http://on.wsj.com/18s8S8U (Translator standing a step from the President reportedly had a violent past).

Vital records debunk conventional wisdom (or “Who really built that?” or “It’s not what you don’t know that kills you; it’s what you do know that just ain’t so.”).  “Country Clubs Dig Up Their Histories,” Wall Street Journal, December 14-15, A16 http://on.wsj.com/1k1nRcB (Documents in safe establish who designed 100-year-old golf course – why do we keep stuff like that?).

How do we learn?  Yes, there’s teaching, but what if students don’t really listen?  What about a study of the mistakes of others?  Are they the second-most important learning tool?  Investors are asking more questions and demanding more data to confirm that they aren’t dealing with the next Bernie Madoff.  “Post-Madoff, Clients Ask Tough Questions,” Wall Street Journal, December 14-15, B9 http://on.wsj.com/1edyJnF  And how do you know what information will turn out to be important later? (see prior paragraph – what do you know that just ain’t so?)  The study of mistakes (yours and others’) is the essence of knowledge management.  Trust but verify.

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Filed under Business Case, Controls, Definition, Information, Knowledge Management, Records Management, Risk, Third parties, Value

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