What Have You Done For Me Lately? How Information Professionals Determine Their ROI. A Leadership and Management Division Program

The Panelists: Judy Field, Senior Lecturer, Wayne State University also serving as the Moderator Judy Field, Senior Lecturer, Wayne State University also serving as the Moderator

The Panelists: Judy Field, Senior Lecturer, Wayne State University also serving as the Moderator Judy Field, Senior Lecturer, Wayne State University also serving as the Moderator Marilyn Bromley, Library Director, Bureau of National Affairs Marilyn Bromley, Library Director, Bureau of National Affairs

The Panelists: Judy Field, Senior Lecturer, Wayne State University also serving as the Moderator Judy Field, Senior Lecturer, Wayne State University also serving as the Moderator Marilyn Bromley, Library Director, Bureau of National Affairs Marilyn Bromley, Library Director, Bureau of National Affairs Anne Caputo, Director of Factivas Knowledge & Learning Programs Anne Caputo, Director of Factivas Knowledge & Learning Programs

The Panelists: Judy Field, Senior Lecturer, Wayne State University also serving as the Moderator Judy Field, Senior Lecturer, Wayne State University also serving as the Moderator Marilyn Bromley, Library Director, Bureau of National Affairs Marilyn Bromley, Library Director, Bureau of National Affairs Anne Caputo, Director of Factivas Knowledge & Learning Programs Anne Caputo, Director of Factivas Knowledge & Learning Programs Jude Hayes, Manager of a team of Information Professional Consultants, LexisNexis Jude Hayes, Manager of a team of Information Professional Consultants, LexisNexis

What is ROI? What is ROI? A business term meaning Return on Investment A business term meaning Return on Investment One of the many ratios used to either determine worth or to show an organizations profitability One of the many ratios used to either determine worth or to show an organizations profitability In Accounting:It is the Fiscal Year Income divided by Amount of Common Stock and Preferred Stock Equity plus any Long-term Debt In Accounting:It is the Fiscal Year Income divided by Amount of Common Stock and Preferred Stock Equity plus any Long-term Debt

It is often used for cost justification purposes for all units within an organization especially when budgets are being prepared or restructuring is being considered It is often used for cost justification purposes for all units within an organization especially when budgets are being prepared or restructuring is being considered It is a Dollar and Cents approach to analyzing the organizations bottom line It is a Dollar and Cents approach to analyzing the organizations bottom line

What does this mean for us? Most information centers are not direct revenue generating units though some do- zero based budgeting Most information centers are not direct revenue generating units though some do- zero based budgeting Yet we have salaries and expenses Yet we have salaries and expenses We do not produce a saleable product We do not produce a saleable product Yet our research permits others to produce products or to make effective decisions Yet our research permits others to produce products or to make effective decisions

Our Task ? Is to validate the contributions of our research in the decision making processes that occur across the organization. Is to validate the contributions of our research in the decision making processes that occur across the organization.

How? Initial strategies are to be sure you understand your organizations corporate culture by studying Initial strategies are to be sure you understand your organizations corporate culture by studying The organizations Mission Statement The organizations Mission Statement The organizations Vision Statement The organizations Vision Statement The organizations current Strategic Initiatives The organizations current Strategic Initiatives

Then Realign your Realign your Mission Statement Mission Statement Vision Statement Vision Statement Strategic Initiatives Strategic Initiatives Develop a suite of services that target those initiatives and goals Develop a suite of services that target those initiatives and goals

Promote Services not technology Services not technology Make value statements of these services that are relevant to your organization i.e. Make value statements of these services that are relevant to your organization i.e. Assist in preventing deaths Assist in preventing deaths Minimizing surgeries Minimizing surgeries Reducing hospital stays Reducing hospital stays

Show That what you provide That what you provide Meets high standards of quality and reliability Meets high standards of quality and reliability Has cognitive value Has cognitive value Aids in decision making Aids in decision making Provide Benchmarks Provide Benchmarks Implementation of Best Practices Implementation of Best Practices Do Information Audits Do Information Audits

SHOW That you are excel at communications That you are excel at communications Informative and easy to use web sites Informative and easy to use web sites Targeted newsletters Targeted newsletters Anticipate information needs and deliver executive summaries Anticipate information needs and deliver executive summaries You learn about your organization by walking around You learn about your organization by walking around

Seek To find relevant services that you can provide To find relevant services that you can provide Records management center Records management center Copier center Copier center Archives Archives Centralized source for ordering books, serials and other information resources. Centralized source for ordering books, serials and other information resources.

Examples? It is time to hear from our team of experts It is time to hear from our team of experts