How can organizations ensure that scarce resources are allocated appropriately in a competitive environment?
Answer:
Make alternative resources available. Wind power or dams for water power to electrical power plants. They were using gas taken off city septic tanks. a renewable resource. Read about it in some papers.
When there wasn't enough sugar, they made alternative sweeteners, then sold it for less. That's competitation.
When coal or gasoline or oil becomes scare or before it does.
Make alternative fuels. Before you run out figure out ways of using other things that are renewable.
Assign ownership, enforce contracts, and get out of the way.
Google the Coase theorem, you'll find that resources will be allocated "appropriately" regardless of how you assign ownership (though it could be done in any number of ways benefitting different groups in society).
The last thing you should encourage is group (or government) ownership of the resources. If you have a million people, split up the resource into a million pieces and give them clear title. The markets will work, as long as people can buy and sell freely and contracts are enforced with certainty.
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