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Transforming Libraries: Meeting Community Needs Through Innovation and Expertise

Libraries are evolving to better serve their communities, shifting from mere collections to centers of expertise. This study explores how libraries can thrive despite declining footfall, driven by technological advancements. We surveyed various demographics—including students, researchers, and corporate sectors—to assess library facilities and needs. With a focus on diversified income sources, including cafeteria rentals and advertisements, we project a path to sustainability through careful demand forecasting. Our expansion plans aim to enhance library services beyond traditional offerings, ensuring continued relevance in the information age.

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Transforming Libraries: Meeting Community Needs Through Innovation and Expertise

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  1. Library Intrapreneures Neha Buddhadev & ShusmitaKuila

  2. “Library outranks any other one thing a community can do to benefit its people. It is a never failing spring in the desert.” ― Andrew Carnegie

  3. “Everything sort of looks the same, but everything has changed.” -Michelle Rabinowitz, a producer at MTV News

  4. Kaizen Library These results in the shift of library from: • Emphasizing the value of collection to the value of expertise. • Supporting information description and access to building a greater information analysis. • Severing as a support agency to collaborator. • Facility based enterprise to a campus wide enterprise

  5. Hypothesis • Various reasons contribute in the decline of the footfall in the library including the development of information technology.

  6. Methodology 50 CLOSE ENDED QUESTIONNARIES:

  7. Analysis

  8. PEOPLE RATED THE AVERAGE LIBRARIES ON BASIS OF FOLLOWING FACILITIES ON THE SCALE OF 1-10

  9. New Model

  10. Target Segment • Section of Society: Students/ Academic/ LearnersResearch Scholars Physically Challenged Individuals Business/Corporate Sector Retired Personnel • Income Bracket: Lower Middle Class Upper Middle Class Elite Class (Business Class)

  11. Facilities Provided 1-Corporate and Reading Area Functional 24 X 7 2-Ambience 3-Thousands of Books 4-Reading Capacity + Locker Facilities 5-Technology 6-In House Cafeteria 7-Corporate Section 8- Recreation Room 9-Room for the Specially Abled 10-GD room/ Conference Room

  12. Pricing Strategy

  13. SWOT ANALYSIS

  14. Return On Investment via Demand Forecasting Sources of Income: Areas of Total Expenditure (Fix + Variable): Adding new books Technological expenses Damage repairs Salaries Stationaries Wealth tax Maintenance 15% on Depreciation • Main source of income will be the Rent from the Cafeteria. This will be outsourced. Income from this will be Rent + 20% of their income. • Grants from Governments and other international bodies like SARC. • Membership will add nominally to the income. • Advertisements will be another major source of income. ( of firms and books on our site)

  15. Demand Forecast via Break-Even Point Assumptions: The following factors are assumed to be constant • Inflation Rate • Tax Barriers • Change in Government Polices • Need for Technological Up-gradation • Change in peoples Attitude • Competition

  16. Demand Forecast for First Two years • First year: In the first year losses expected are as high as -35%. • Second year: The losses will reduces to some extent, say -15%.

  17. Demand Forecast for the Third year, Forth Year & Fifth Year • Third Year: It might come down to -5%. • Forth Year: It can be expected to have some nominal profits say +4% • Fifty Year: From 5th year onwards this model can expect having normal profits up to +15%

  18. Expansion Plan In 5-7years, the areas of expansion can be considered. Scope for expansion of this model are • Setting up various branches • Tie ups with International Libraries • Development of Seminar Halls • Development of Auditorium. • Including Manuscript section • Including a core Research Section • Including a kid zone • And many more section can be developed.

  19. Reference: • 1.Azhar Kazmi, 8th Edition (2010)Strategic Management and Business Policy, SWOT analysis, Expansion Strategies. • 2. Philip Kotler, Kevin Lene Keller, Abraham Koshy, MithileshwarJha 13th Edition (2009, 2006, 2003, 2000, 1997, and 1994) Marketing and Management, 7P’s of Service Marketing Mix • 3. Dwivedi 2nd Edition (2005) Macro Economic: Theory and Policy, Demand Forecasting, Break-even analysis. • 4. The Anna Centenary Library, Chennai, Tamil Nadu.http//www.annacentenarylibrary.blogspot.in

  20. THANK YOU…!!!

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