Essay about The Farce of Prison Rehabilitation - 895 Words

The Farce of Prison Rehabilitation After Earl Shriner was released from Prison in 1987, he raped and strangled a seven-year-old boy, then cut off his penis and left him to die (Leo). Reginald Muldrew, who is linked to more than 200 sexual attacks, served sixteen years and was released from prison, only to create trouble again in Indiana (Leo). Did these individuals receive the right punishment or rehabilitation for their imprisonment crime? A prison is an institution for confining and punishing people who have been convicted of committing a crime. A prison is supposed to punish criminals by restricting their freedom of where they can go, what they can do, and with whom they may associate. In America, 1.1 million†¦show more content†¦The weight lifting machines are luxuries that make inmates even stronger and more dangerous. Ron Martiscelli, the recreation director at Floridas Tomoka correctional facility, comments that the guys that work out have more discipline and self-esteem than just about anyone else in the prison (Taylor). Sergeant Andrew Lammers, of the Milwaukee House of Corrections, states that [ex-cons] dont walk into a store, pop out their biceps and say, Give me your money (Taylor). Yet in 1993, a Kansas correctional officer was killed by an inmate weilding a weight. The deterrence and rehabilitation of prisons is clearly a purpose that is not being fulfilled. The actions of Earl Shriner and Reginald Muldrew are examples that show this. Claiming prisons as being effective, one might say that these are just isolated cases. In 1993, fifty-three percent of prisoners released were reconvicted within two years (Reducing). The idea of sentencing a criminal for a period of time in a prison isnt working, so prisons should focus more on changing their rehabilitation programs. Life in prison should be like the outside world as much as possible, given the fact of imprisonment. Prisoners would be less prepared if the prison environment is artificial and abnormal compared to the outside world they will have to encounter later on. A prisoner also needs to keep family ties. Research inShow MoreRelatedPolice Shootings Across The Racial Lines Essay859 Words   |  4 PagesAmerica is still a country separated by black and white. Inequality makes a decisive appearance in much of what Americans do. This can be seen simply by looking at death row statistics. African American males fill much of the death row slots in the prison systems. Similarly, a disproportionate amount of fatal police shootings involve black males. It can be argued that these statistics are not a creation of biased decision making, but rathe r a result of minority communities having a higher level ofRead MoreAnalysis of the Movie Analyze This1933 Words   |  8 PagesAbstract: Film can be a very useful catalyst in teaching how not to treat patients. In Analyze This and Analyze That, we see very extensive examples of this throughout the film. Through farce and lampoon, we see the in this disjunctive way what proper CBT, criminal therapy and combating recidivism is all about. Introduction In this short essay, the author will write an ethics paper analyzing the movie Analyze This from an ethical perspective in a social science setting. It will be answeredRead MoreThe Fictional Movie, And Justice For All By Norman Jewison2226 Words   |  9 PagesFleming says in regards to Arthur talking about the McCullaugh case as he swims in his pool, â€Å"Good, prison should be a frightening place, let this criminals paint their own hell hole.† and, â€Å" The idea that punishment to fit the crime doesn t work, we need unjust punishment, hang somebody for armed robbery† (Movie). Then Fleming talks how Arthur and people like him who have ideas of rehabilitation is a farce. (Movie) Transformative justice is also shown throughout the movie and is also a major type ofRead MoreWomen s Rights As Human Rights Essay5715 Words   |  23 Pages(Prevention of Atrocities) Act, 1989. ‘An Act to prevent the commission of atrocities against the members of the Scheduled Castes and the Scheduled Tribes, for constitution of special courts for trial of such offences, and to provide relief and rehabilitation to the victims’. 8. 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What Makes A Good Supervisor Essay - 1165 Words

A good supervisor will inspire, challenge, and motivate their employees. In addition, a supervisor has the ability to stay focused and is able see the big picture. However, one could possibly argue that the best quality that a good supervisor must possess is the skill to recognize the potential in others. Nevertheless, the most important skill a supervisor must possess is the ability to help those around realize their own potential. But is that all there is to a good supervisor? Or is there more? In an interview with Mrs. Jill Wilcox, a recently retired Assistant Claims Manager for a prominent workmen’s compensation insurance company thinks that the emotional intelligence of an employee also has to do with the ability to lead their team.†¦show more content†¦Emotional Intelligence is defined as: †¦good old street smarts-knowing when to share sensitive information with colleagues, laugh at the boss’s jokes, or speak up in a meeting. In more scientific terms, †¦ [emotional intelligence] can be defined as an array of noncognitive skills, capabilities, and competencies that influence a person’s ability to cope with environmental demands and pressures.1 â€Å"Book smarts will only get you so far, what really defines one’s success is how you use the opportunities that are presented.† Wilcox stated. If a supervisor can grasp this concept in addition to learning the necessary skills, it will build and enforce a loyalty between them and their team. By demonstrating a willingness to consider both sides of an issue and making decisions on the facts, employees will be confident that they too will receive fair treatment. This statement proves to be easier said than done. When you work in an office of 75 claims adjusters alone it makes it extremely di fficult to deal with all the personalities. Even in your own team of 10, making each individual claims adjuster feel worthy, proves to be a tough task, which is why having the emotional intelligence is necessary. Having the skills to complete a task can prove to be a difficult one. But if the supervisor can bring the team to work together as a cohesive unit by using emotional intelligence, it will establish and reinforce the employee-supervisor relationship. Wilcox claims, â€Å"A supervisorShow MoreRelatedReflection On Social Work1026 Words   |  5 Pagesthe general love for her job and role as a supervisor. I was observing her facial expressions throughout the interview. I have never seen so much excitement from a person in a supervisory role. She truly enjoys being the person others can come to and learn from. One of the specifics that stood out to me was when she said, â€Å"Really get to know your people.† (C. Pressley, personal communication. October 23, 2017). I bel ieve this is something all supervisors should do. 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Outsourcing And Cost Reduction In Hotel Chain - Myassignmenthelp.Com

Question: Discuss about the Outsourcing And Cost Reduction In Hotel Chain. Answer: Introduction: The global hotel chains are outsourcing some of their operations as a part of the cost cutting and efficiency boosting strategies. The author has selected the customer care department of the Canadian international hotel chain, the Four Seasons Hotels and Resorts for the study (fourseasons.com 2017). The assignment would first introduce the department and then proceed to prove why the outsourcing of the department would be profitable for the hotel chain. The last section would study the positive and negative effects of outsourcing the department and provide recommendations to deal with the negative effects of the outsourcing. Selected department: The customer care departments of the Four Seasons located all round the world handle quarries from customers over the phone regarding matters like room bookings and facilities available. They transfer the calls to the relevant departments if the queries of customers are pertaining to more intricate matters like payment issues. Customer care departments of Four Seasons all over the world employ thousands of employees. The department requires minimum training due to its limited scope of job and in large number of cases, depends on other departments to answer customer questions successfully (Saeidi et al., 2015 p. 345). However, employing this vast number of customer care employees adds to the salary expenditure of the international hotel chains, which cannot be justified against the minimum job responsibilities of these customer care employees compared to other departments like accounts and food and beverage. Hence, in the light of the discussion, the Canada based international hotel c hain can propose to outsource its customer departments globally to local third party consultancies, which would be responsible for sourcing and paying the customer care employees (Kang Park 2014, p. 1047). This would reduce the cost of the international hotel chain to acquire and maintain the customer care department employees in all its global branches. Identification of roles, tasks and functions of customer care department: The following are the roles, tasks and functions of the customer care department with reference to the accommodation management: Roles: The customer care department receives and answers the queries of the customers pertaining to booking and accommodation related matters. The customer care department communicates important information like change of accommodation arrangements. It transfer the calls to the concerned departments where the customers want to gain information in matters pertaining to other departments like, in case the customers want to gain information about payment status, the customer care transfer the call to the front office department (Nguyen et al., 2014 p. 1100). Tasks: The following are the tasks conducted by the customer care department: Receiving calls from the customers. Inquiring them about their queries. Answering their questions and queries. Transferring their calls to other departments if the customers want. Functions: The customer care department of Four Seasons functions as a component of the accommodation management of international hotels. The customer care department gains necessary information about the needs of the customers and communicates the information to relevant departments (Kamaruddin, Osman Pei 2017, p. 34). Accommodation management is a very important function that is managed very strategically in the international hotels like the Four Seasons. The accommodation managers look after smooth management of accommodation facilities like safety, guest management and finances. The customer care gains information from customers about their needs. For example, the customers inquire about the types of rooms available and payment modes. The customer care department communicates the information to the accommodation department (Islam, Ahmed Razak 2015, p. 245). The accommodation managers gain information about the preferences of the customers through the customer care department. They can use this information to arrange the rooms and suits as per the requirements of the customers. Thus, this management of the international properties of the Four Seasons according to the preferences of the high profile customers result in ensuring customer satisfaction, which earns the hotel chain more revenue (Huss ain, Al Nasser Hussain 2015, p.169). This analysis shows that the customer care functions as a link between the customers and accommodation management department. Role of the customer and customer needs and steps of accommodation management: Role if customers: The customers play the following roles, which contribute to the importance of the customer care departments in the international chains of hotels like the Four Seasons: The customers are the bases of the job responsibilities, career growth and all other career related aspects of the customer care department. The job responsibilities of the customer care employees consist of receiving and responding to the calls from the customers. Thus, the customers serve as the essence of the job of the customer care department (Chow, Lai Loi 2015, p.364). The customers contribute to the career growth of the customer care department of the employees of the international hotel chains like the Four Seasons Hotels and Resorts. The job role of customer care employees consists of not only receiving calls from customers but also providing them with appropriate solutions. The customers give ratings according to their experiences and level of customer satisfaction after speaking to the customer service executives. These ratings and reviews indicate the efficiency of the customer service department employees in meeting customer requirements and prove their efficiency. The senior managers use these ratings by customers as measurement of the performance of the customer care department employees (Mitchell, Palacios Leachman 2014, p.14). The HR department and the senior management take into consideration these ratings while appraising the employees. This analysis shows that customers play the very important in career growth of the employees of the customer care department. Customer needs pertaining to the customer care department: The following are the needs of the customers pertaining to the customer care departments of the Four Seasons Hotels and Resorts: The customers expect prompt over-the-telephone services of the customer care departments of the Four Seasons. The Four Seasons Hotels and Resorts is an international chain of hotels offering luxurious accommodations all over the world. The consumers would expect the employees of the customer care departments of the hotel chain to be more efficient and resourceful to give appropriate answers to their questions (Johnson, Leenders McCue 2017, p.60). The customers booking accommodation facilities of the Four Seasons expect the customer care department to convey their concerns efficiently and promptly to the concerned departments. For example, if they want any specific food, the customer care department should convey the information to the food and beverage department. Steps the accommodation manager takes to ensure that hotel meets customer needs: The accommodation manager at the Four Seasons apply the following steps to ensure that the services at the international hotel chain meet customer needs and create positive experience among the customers: Set the target customer satisfaction level: The accommodation managers in different locations of the Four Seasons first set the benchmark of customer satisfaction, which the staff members working in the different departments like food and beverage and room service departments have to achieve. The performance of the staffs can be judged based on the feedback from the high-end customers of the properties all round the world (Brown Matsa 2016, p.510). Measure the actual performance level: The accommodation manager would measure that actual performance level of the staffs based on the ratings and reviews received from the customers. If the employees receive high rating from the customers, it means that the international hotel chain is able to meet the needs of the premium customers who stay or visit the different properties of Four Seasons all over the world (Graf et al., 2013 p.70). Training of the employees: The accommodation manager should train the employees he manages to ensure that their knowledge and competencies are always at par with the expectations of the customers. This would ensure that the hotel staff members are able to serve the customers to the highest degree of efficiently to ensure customer satisfaction. This would ensure that the hotel chain as a whole is able to meet the needs of the customers and create positive response among them (Rhodes et al., 2016 p.63). Viability of the outsourcing, benefits and drawbacks of an outsourced organisation: The above discussion shows that outsourcing is a viable solution for the customer care department of the Four Seasons in all their properties. First, the customer care department does not serve the customers directly and secondly, it is dependent on other departments to offer solutions to customers. Thirdly, the scope of the customer care department is not as broad as the finance or the HR department. Moreover, the department employs large number of employees and paying them salary adds to the cost of the hotel company (Tseng 2016, p.210). This shows that it viable to outsource the customer care employees to third party consultancies. However, the following would the benefits and drawbacks, which the Four Seasons would experience on outsourcing its customer case department. Advantages: Outsourcing would reduce the expenditure of the company: Outsourcing the customer care employees would enable the international hotel chain to reduce its salary expenditure. The customer care department does not serve customer directly and is dependent on other departments. Moreover, their scope of work is limited compared to the crucial departments like finance and marketing. Thus outsourcing the customer care department would reduce the expenditure the company bears on the strategically less important department (Chuang Lin 2017, p.25). Reduced cost of talent acquisition: Outsourcing the customer care employees to third party consultants would result in reduced cost of talent acquisition for the international hotel chain. The consultancies dealing with the customer care employees would take the responsibility of acquiring employees according to the requirements of the hotel chain. Thus, the hotel chain would able to reduce the cost of acquiring and staffing customer care employees. Disadvantages: Interference of the third party consultants: The third party consultants because of outsourcing of customer care employees would gain indirect control over the hotel companys operations. The customer care employees would be under the payroll of the third party consultancies and as they would be more responsible to the consultancies than to the hotel chain for their performance. Thus, the consultancies would indirectly control the customer care department on the hotel (Rhodes et al., 2016 p.64). Lack of control: The third party employees would be under the control of the consultancy firms and not under direct control of the hotel company. As a result the management practically would have minimum control over them or say over their performances. The hotel group will not be able to take any actions if these third party employees are caught adopting unethical or fraudulent means because they are not on roll employees of the hotel company (Chuang Lin 2017, p.25). Recommendations: The following are the recommendations, which can be offered to the management of the Four Seasons regarding outsourcing of the customer care department employees: The hotel group must outsource the lower and entry-level customer care employees. The managers should be under the payroll of the hotel group. This will allow the hotel to control the outsource employees through higher level on roll employees. The hotel group must offer promotion and absorb these outsource employees on the grounds of their performances. This will have two outcomes. First, the outsource employee will perform more efficiently to come under the pay roll of the hotel and second, it will allow the hotel group keep the efficient employees under its payroll. Thus, it would be curb the control of the third party consultancies over the customer care department. Conclusion: The above study shows that though the customer care department of the Four Seasons plays the crucial role of dealing with customer questions, its scope of activity is limited compared to departments like finance and marketing. This makes the customer care department liable for outsourcing to third party companies. However, as recommended above, the management of the international hotel chain should form strategies to control these outsource employees and reduce the interference of the consultancies in its operations. References: Brown, J. Matsa, D.A., 2016. Boarding a sinking ship An investigation of job applications to distressed firms.The Journal of Finance,71 vol.2, p.507-550. Chow, C.W., Lai, J.Y. Loi, R., 2015. Motivation of travel agents' customer service behavior and organizational citizenship behavior: The role of leader-member exchange and internal marketing orientation.Tourism Management. Chuang, S.H. Lin, H.N., 2017. Performance implications of information-value offering in e-service systems: Examining the resource-based perspective and innovation strategy.The Journal of Strategic Information Systems,26 vol..1. Fourseasons.com. 2017.London Luxury Hotel | 5-Star Hotel | Four Seasons at Ten Trinity Square. Available at: https://www.fourseasons.com/content/fourseasons/en/properties/tentrinity/ As at 26 Dec. 2017. Graf, M., Schlegelmilch, B.B., Mudambi, S.M. Tallman, S., 2013. Outsourcing of customer relationship management: Implications for customer satisfaction.Journal of Strategic Marketing,21. Hussain, R., Al Nasser, A. Hussain, Y.K., 2015. Service quality and customer satisfaction of a UAE-based airline: An empirical investigation.Journal of Air Transport Management. Islam, R., Ahmed, S. Razak, D.A., 2015. Identifying the gaps between customer expectations and perceptions on service quality dimensions of Islamic banks in Malaysia.International Journal of Quality and Service Sciences. Johnson, P.F., Leenders, M.R. McCue, C., 2017. A comparison of purchasings organizational roles and responsibilities in the public and private sector.Journal of Public Procurement. Kamaruddin, R., Osman, I. Pei, C.A.C., 2017. Customer expectations and its relationship towards public transport in Klang Valley.Journal of ASIAN Behavioural Studies. Kang, D. Park, Y., 2014. based measurement of customer satisfaction in mobile service: Sentiment analysis and VIKOR approach.Expert Systems with Applications,41 no.4, p.1041-1050. Mitchell, M., Palacios, V. Leachman, M., 2014. States are still funding higher education below pre-recession levels.Center on Budget and Policy Priorities. Nguyen, H., Groth, M., Walsh, G. Hennig?Thurau, T., 2014. The impact of service scripts on customer citizenship behavior and the moderating role of employee customer orientation.Psychology Marketing. Rhodes, J., Lok, P., Loh, W. Cheng, V., 2016. Critical success factors in relationship management for services outsourcing.Service Business. Saeidi, S.P., Sofian, S., Saeidi, P., Saeidi, S.P. Saaeidi, S.A., 2015. How does corporate social responsibility contribute to firm financial performance The mediating role of competitive advantage, reputation, and customer satisfaction.Journal of Business Research. Tseng, S.M., 2016. Knowledge management capability, customer relationship management, and service quality.Journal of enterprise information management,29 no.2, pp.202-221.

Market Risk Analysis Practical Econometrics

Question: Discuss about the Market Risk Analysis for Practical Econometrics. Answer: Introduction Planet gas limited is a company listed in the Australian Stock Exchange commonly known as the ASX. As its name suggests, the company deals with gas and oil globally but its core businesses are concentrated in the United States of America and Australia. The reason for this strategy is that both countries have a rich natural resource and high affinity for gases and oil due to them being industrial countries. The areas of the project in the United States are Appalachia and New York cities while in Australia the company projects are found in South Australia a region well known as the copper basin. There are people who are the drivers of this company and help in the implementation of the companys goals and objectives (Alexander, 2008). They include the board of management for long term decision making, the chief executive officer and the chief finance officer for short term operational decisions of the company. In this paper we are going to look at the various responsibilities of a chief finance officer. Responsibilities of a CFO The chief financial officer has various functions in an organization. The chief finance officer of the company is a key figure in companys management committees and the board of directors and management (Alexander, 2008). In times of crisis of the company, the chief finance officer is responsible for all financial decisions that the company undertakes for approval by the companys board of directors. A company like planet gas limited does not only want an experienced chief finance officer but a highly trained one with professional qualifications having led other numerous companies. This is a highly prestigious position second from the chief executive officer who is the overall decision maker in the company. In most cases, the chief finance officer is the automatic successor of the chief executive officer when the company does not want to hire from outside. A chief financial officer needs a high practical guidance from both experience and professional skills acquired through learning. A finance degree is most appropriate in the chief finance officer but a masters in finance is also an added advantage : (Barnes, 2009). Professional courses in finance also are an added advantage in acquiring chief finance officer competency. Among the primary or fundamental functions of a chief financial officer of planet gas limited are; Liquidity management of the company- not only does the chief executive officer manage the companys liquidity by the bank route, that is the balances in the companys bank accounts but also evaluation of good customers where the company uses credit terms to sell. Managing to collect on time and cash flows forecasting which is a standard requirement according to the international standards of accounting (Bragg, 2003). This makes the companies to avoid deep liquidity issues that may affect the companys liquidity position. There is always sufficient liquidity that a company meets their monetary commitments. Managing the liquidity of companies, not only by the banking route, but also; evaluating good customers to whom the company sells on credit, managing to collect on time and making good cash flow forecasts to avoid falling into situations of illiquidity and generally making sure that there is always sufficient liquidity for the company meets their monetary commitments. The chief financial officer organizes the bank finances terms.Achieve bank financing on the best terms and meet the needs of the company, both in the short and medium and long term. We all know that achieving funding is not easy, at this time (Karaian, n.d.). Planet gas limited is highly liquid and requires lot of cash flows due to its operations. A gas and oil company should not have financial difficulties and should be required to make early cash flow intake in case of detected problems. A CFO will make known the cash flow requirements to the board of directors while also making it necessary to make it known of the cash flows problems in the company. The third test is judicial analysis of investments policies of the company. Judiciously analyzing the investment policy; their need, profitability and form of financing for the companys financial needs. Investment decisions are made by the companys directors with the help of technocrats like the CFO. to know the return on investments of the company in projects and the return on investors equity, the company should seek guidance from the chief finance officer of the company. Application of efficient and effective systems in cash flow creates the best strategy for the company in the future in terms of liquidity. Most businesses are used to making profits based on the economic conditions at that time; however a good chief financial officer should look for diversification processes as well as immediate plans to increase profitability. Additionally, the CFO should put in place a proper system of cost control, applying criteria of effectiveness and efficiency to bolster performances of the company. The issue is not spending, but spending just enough to generate value for the company. Spending arbitrary may not increase the chances of the company to have more profits but tends to reduce the profits in place. Decision making in companies must be based on good information that will allow proper management and the responsibility they have this good information, often rests with the figure of the CFO. The CFO is not limited to generate this information, but also must be able to make a thorough analysis of it, facilitating the work of decision-making other departments and generally throughout the company. As you can see has become a key figure increasingly respected and loved because for many reasons, the smooth running of the company depends on who can do their job very well, with good sense and professionalism (Karaian, n.d.). Controllership duties this is providing information that is financially important and relevant to Planet Gas Limited and its position in the financial markets. For the basis of effective decision making, the information should always be meaningful and practical. The mission of the CFO is to make relevant, timely, comparable and verifiable financial information for long term, short term and medium term decision making of the company. Systems establishment and upgrading of the information system that is available should be a core mandate of a serious chief executive for the purpose of making good the companys investment. Other duties include the administrative and tax matters that the company will pay to the tax man for future decision making. System of accounting establishment policies should also be inspired by the chief financial officer. Controlling of the companys working capital is also a duty of the companys chief financial officer (Robinson, 2009). Auditing of financial reports of Australian gas industry and their infrastructures are the guiding principles to strategic planning and growth for expansion. In a mission to get the best out of the industry, the Australian telecommunication industry is analyzing, the inherent risks associated with financial position of the industry. In this stage, we will find the risk assessment: performing identification, analysis and subsequent determination of their value. For a better understanding of the risks and impacts of a risk a map is drawn, with all stages of their development process is presenting the impact and frequency of risks. Ending with the most important part of the implementation as is the Risk Management Strategy and ways of monitoring the business growth. The strategy of the company is focused on customer while providing quality and innovative telecommunication. In this business strategy awareness of the risk itself, its impacts and probabilities, evaluation methods as well as those who assume its main risks and problems, the environment in which develops such as business and that is where he will focus this part of the chapter "Risks affecting businesses: affecting the telecommunication industry. Finally, from the point of view of the financial costs of companies, growth of monetary amounts to reducti on of costs and risk transfers, ie prevention measures and insurance, have become aware of the decisive influence they had in the compliance with business objectives. After deregulation of the industry, many businesses are entering the market with the aim of competing to get a share of the Company the largest in the industry by service production. The CFO of a company is responsible for a companys financial policies and the cash flow of operating, financial and investing activities especially for an oil producing company like planet gas limited (Keim and Ziemba, 2000). CFO is also involved in the companies treasury matters and he is the overseer of all matters related to treasury of the company and matters affecting the financial relationship of the company. There are people who are the drivers of this company and help in the implementation of the companys goals and objectives. They include the board of management for long term decision making, the chief executive officer and the chief finance officer for short term operational decisions of the company. In this paper we are going to look at the various responsibilities of a chief finance officer. In most cases, the chief finance officer is the automatic successor of the chief executive officer when the company does not want to hire from outside. Efficient market hypothesis It should be noted that the fact that the market collect all available information does not mean that all those involved in it are aware of everything and know how to interpret all the information and determine its consequences, but what stands out is the aggregate market behavior. Can a fund manager select a portfolio from pin? In an efficient market, no group would be at a disadvantage or advantage over others; since all have the maximum information. So the only way to make extra profits is to get information that other investors do not have, or take advantage of temporary differences that may arise between the market price of a security and its intrinsic value. Search insider information, along with the work done by analysts, speculators and arbitrageurs is precisely what leads to market efficiency; therefore, the function of these operators is essential for achieving market efficiency, being the work of the arbitrageur the most important, and as such, it is possible to consider arbitration as the cornerstone of the Efficient Market Theory. Thus, one of the curiosities notably on the efficiency of markets is the fact that, so that they behave efficiently, it is necessary that operators do not believe in market efficiency, so try to discover the existence of inefficiencies. Action that causes them disappear, pushing prices to their target value, and achieving, thus market efficiency. This has been called the "efficient market paradox". Obviously, profit in the short term for reasons of chance always be feasible; however, this theory argues for the impossibility of achieving these benefits continuously in the long run. Strong Hypothesis for fund selection Depending on the level or the strong form of efficiency, a market is efficient when its full and instantly prices reflect all available information, be it historical, public or private information. From the above statement it follows that any study method available information will achieve extraordinary returns. So, in an efficient market in its strong form, it will only be possible to "beat the market" through luck or chance. Logically, it seems impossible that the market is efficient in its strong form, since that would imply that it is a perfect market, which, as seen above, is a utopia. Resource allocation When a market is efficient, being all the information on prices, trading centers around the intrinsic value of securities, so it will not be possible to obtain extraordinary returns by agents. However, when they believe otherwise and try to seize opportunities to enrich themselves, contribute to improving market efficiency. Thus, the pursuit of maximum individual benefit, trying to detect market inefficiencies, contributes to achieving a collective benefit, to properly guide the market allocation of resources, indicating which investment decisions to be followed are the agents. Equal opportunities A fully efficient market will, among its main consequences, equal opportunities between investors, they have as much information as possible. However, as the degree of market efficiency is reduced, the greater will be the differences in opportunities between informed and uninformed; so that the goal of any investor will get information that is not other investors to achieve extraordinary returns and thus be able to beat the market. Obtaining short-term profits does not contradict the efficient market theory, because it defends the impossibility of maintaining such profits continuously in the long run. Efficient Market Theory has been the dominant paradigm in finance for many years, however, the existence of various anomalies and inconsistencies with this theory make them many scholars who defend the inefficiency of markets (Keim and Ziemba, 2000). References Alexander, C. (2008). Market Risk Analysis, 1. Chichester: John Wiley Sons. Alexander, C. (2008). Market Risk Analysis, Practical Financial Econometrics. Hoboken: John Wiley Sons, Ltd. Barnes, P. (2009). Stock market efficiency, insider dealing and market abuse. 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