Narrative 5-2 The Traditional Image of a Public Library Is One That

question 76

Multiple Choice

Narrative 5-2
The traditional image of a public library is one that is full of books on shelves,librarians shushing patrons,and is dark,cut off from the light outside. The Calgary Public Library's CEO,Bill Ptacek,would like to change this image. He's cut back on the book collection by 13 percent,eliminated the $12 annual membership fee,and reconceptualized the library as a place for social gathering. He's done all this despite the Calgary Public Library circulating more items than any other library in Canada except Toronto's. The library is largely funded by the City of Calgary with some grants from senior levels of government. Under Ptacek's tenure,many staff have shifted to working out of more than one branch. Calgary's new downtown library is designed with semi-private nooks,more gathering spaces,and is focused on a community hub. On any given night,you're as likely to find a rock concert as you are a community group in a meeting room or children playing in their new play areas. Some patrons and staff miss their "quiet library," though,and have complained.
-Refer to Narrative 5-2. Use the VRIO framework to determine which component Ptacek felt was lacking in the library's value proposition.

• A)Is it valuable?  
• B)Is it rare?  
• C)Is it costly or difficult to imitate?  
• D)Is the firm organized to capture the value of the resources?

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Definitions:

Interest Rate

The cost of borrowing money or the reward for saving it, typically expressed as a percentage of the principal amount per year.

Interest Rate

The cost of borrowing money or the return for lending money, typically expressed as a percentage.

Budget

An estimation of revenue and expenses over a specified future period of time, often used as a plan for management of money.

Convex Set

In mathematics, a set where, for every pair of points within the set, every point on the line segment between them is also within the set.