We present and broadly discuss selected topics to under- stand the phenomenon of information in a modern and natural environ- ment. These are observations and considerations from the perspective of Cognitive Management1 to the conception of the essence of the nature and behavior of information in terms of cognition, reasoning and decision-making of people and human systems in relation to situation and event, task and problem, system and context. As one of the options for solving this problem, we present a supplemented and modified pilot version of the multidimensional and multiparametric model2 with appli- cation potential for selected dimensions and parameters of the whole system (person, situation and task/problem), in terms of cognitive possibilities for effective adaptation, reasoning and decision-making of people and small professional teams in changing conditions and circumstances of situations.