Description of Dissertation Topic
In the past few decades, limited funding, at state and federal levels, has created financial constraints for Clayton County Library, Georgia. Relative to such challenges, the American Library Association says, today, American Libraries experience the greatest threat to their financial stability (Coffman, 2013; Bowman, 2011). Indeed, financial constraints have forced libraries to reduce their employee numbers, cut working hours and minimize their involvement in community activities (Coffman, 2013). Technological advancements have worsened this situation because increased access to information in today’s digital age has made public libraries less relevant than they were (Düren, 2013). Based on such developments, policy makers are starting to see public libraries as less relevant institutions (Bakar & Putri, 2013).
Although such perceptions are debatable, these developments have reduced the bargaining power of Clayton County Library, as it seeks more financial allocations from state and federal authorities (Egunjobi & Awoyemi, 2012). Furthermore, with a diminished relevance in today’s society, the institution is receiving less public support, compared to the past. Collectively, these challenges threaten the institution’s existence. Based on these intrigues, my dissertation topic aims to investigate a financial diversification strategy to enhance the financial stability of the Clayton County library. This topic aims to investigate possible strategies that public libraries could use to overcome the financial problems they experience in today’s uncertain economic times.
Purpose of Study
Located in Georgia, Clayton County Library has about 1.2 million users (Clayton County Library System, 2014). The library supports many people by providing employment to locals and supporting local business (Clayton County Library System, 2014). However, financial constraints threaten its contribution to the society. This problem is national because Coffman (2013) says financial problems affect about 44 public libraries across all 50 states of America. Public libraries have become vulnerable to economic uncertainties because they remain among the few public educational and cultural institutions that still rely (almost entirely) on public funding (Collins, 2012). In fact, Coffman (2013) says that about 90% of all funding sources for public libraries come from federal and state funding. Only 9% of library revenue comes from other sources of funding, such as library fees and local taxes (Coffman, 2013). Therefore, when state and federal governments suffer financial difficulties, libraries often have trouble financing their operations. Many libraries experience this challenge. Particularly, this is true for Clayton County Library, Georgia. Based on this assessment, the purpose of this qualitative paper is to investigate a financial diversification strategy for the Georgia-based institution.
How the Dissertation could Effect Social Change
For many decades, libraries have always been an important social. However, recent economic situations threaten their existence (Mapulanga, 2012). Exploring the strategies for improving the financial stability of such institutions would promote social development by changing the management structures of such institutions (Albertini, 2013). Such changes would redefine the administrative policies of public institutions and improve public-private partnerships in the community. The latter development comes from recommendations that explore different strategies for promoting financial stability through private-public partnerships (Reid, 2010).
Since this study focuses on exploring the management structures of a public institution in Clayton County, Georgia, its recommendations may help to reintroduce policy changes in the region by promoting financial literacy and proper financial management. Such developments may increase financial prudence among public and private spheres (Coffman, 2013). Furthermore, they may create awareness about the financial challenges experienced by public libraries in the region. This measure would encourage policy makers to create local solutions for managing such problems (Bailey, 2011). Providing a proper legislative framework for financial innovation is one way of doing so. Experts may further apply possible strategies that may emerge from such developments in the wider Georgia state.
By promoting financial stability at Clayton County Library, this paper would also contribute to the educational and cultural development of Clayton County because the public library plays an important role in providing educational and cultural resources to its residents (Massis, 2011). Therefore, if Clayton County Library could meet its financial obligations, it would improve its services to the community and offer more education resources to its residents. For example, it could increase its working hours and improve the access to library services (Cottrell, 2012; Cottrell, 2011). Furthermore, by improving its financial situation, the library would employ more residents of Clayton County and support several families that would be getting salaries from the institution (Ghosh, 2011).
Lastly, Clayton County Library has supported many local businesses that complement its operations. For example, local companies that provide stationery have done business with the institution. Similarly, publishers, who supply books to the institution, have always supported the institution’s activities. Therefore, some people who run businesses in Clayton County depend on the library to earn a living. However, with the uncertain economic times and reduced funding, such businesses run the risk of closure (McMullen, 2011). Therefore, Clayton County Library plays a wider supportive role in promoting community development within its locality. Conversely, improving its financial position would also help to improve local businesses as well.
References
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