This paper presents a review of the literature on the effectiveness of Blackboard system, its uses and limitations in information management and highlights the ongoing debate of it. A critical evaluation of Blackboard system literature reveals a good number of academic views, studies, theories, models and experiences regarding the virtual learning environment. The extant literature shows that the world of information management is always in flux as it is being impacted on by the learning technology such as blackboard system. Blackboard system now has a recognised presence in the information management of the education system. Now the question is: how effective is this Blackboard system? The article will explore, in part, how blackboard is designed as suitable learning models in terms of learner cognitive engagement and constructivist perspective, resulting in the effective Blackboard system. It will further cover to review the effectiveness of Blackboard as an aid to pedagogy. Finally, the article will also present a comparison between Blackboard and other LMS such as Moodle to explore the effectiveness and limitations of the Blackboard for better academic information management.