Briefly analyze the technical aspects of budgeting and finance and explain how competition within your selected organization currently exists and how this affects the market value of the services provided by your agency
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The G.E.O Group Inc.
While it is generally true that law enforcement agencies are unable to minimize
competition and maximize profits, the same cannot be said to be true for
correctional organizations. Private prisons have been a staple of the correctional
field for decades. Most of these agencies are very profitable and continue to tailor
their product to the demands of the public marketplace. If the supply of inmates and
demand for additional space is necessary, a private prison merely uses a portion of
its profits to build new facilities in an effort to maintain equilibrium.
For this interactive assignment, you will take on the role of a supervisor in a
correctional organization. Once you have chosen your role, you must draft an
executive summary in an attempt to redirect efforts by decision makers within the
state government who wish to cut your organization's operations budget. Your
executive summary must address issues pertaining to supply, demand, competition, and
cost minimization in order to influence those in the state government who would
approve or reject the proposed budgetary cuts.
Create a one-page, double-spaced executive summary document applicable to your
selected agency. Include the following content in your document:
Explain the elements of public finance and budget management as applied to your
selected organization including how equilibrium, price, and quantity will change if
supply or demand for service is altered within your organization.
Briefly analyze the technical aspects of budgeting and finance and explain how
competition within your selected organization currently exists and how this affects
the market value of the services provided by your agency.
Evaluate the financial constraints that arise in budgeting due to equilibrium and
competition within your chosen organization.
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