Benchmarking lets an organization: replace quality with productivity. protect its processes and trade secrets from rival firms. eliminate quality control. know where it stands competitively in its industry. limit employee participation in total quality management. QUESTION 19 Dera Diamonds Inc. is a premium jeweler. Its clientele includes movie stars, politicians, businessmen, and popular socialites. It has a team of jewelry experts that designs jewelry for each of its client from scratch. Everything is made to meet the specific requirements of the clients, and no two jewelry pieces produced by this company has ever been identical. This is an example of crowdsourcing mass production benchmarking customization standardization
The Correct Answer and Explanation is:
Answer to Question 19:
The correct answer is customization.
Explanation:
Customization refers to the process of tailoring products or services to meet the specific needs and preferences of individual customers. In the case of Dera Diamonds Inc., they produce jewelry pieces that are designed from scratch to meet the unique requirements of each client. This is a classic example of customization because no two pieces of jewelry are identical, and the design process is highly personalized for each client.
- Crowdsourcing involves obtaining input, ideas, or services from a large group of people, typically from an online community. This is not what Dera Diamonds Inc. is doing because the company is not relying on a crowd to design or create its jewelry.
- Mass production refers to the production of large quantities of standardized products, typically using assembly lines or other automated processes. This is the opposite of customization, as mass-produced items are identical or nearly identical, whereas Dera Diamonds Inc. specializes in unique, one-of-a-kind pieces.
- Benchmarking involves comparing a company’s performance, processes, or products against best practices or competitors. Although Dera Diamonds Inc. may benchmark to ensure it’s staying competitive, the concept of customization is more relevant to the way they create their jewelry.
- Standardization refers to producing goods that are uniform, with little to no variation across units. Dera Diamonds Inc.’s process is the opposite of standardization since each product is bespoke and tailored specifically to individual customer preferences.
Thus, the business model at Dera Diamonds Inc. is a prime example of customization, as every jewelry piece is created to meet the specific demands of their high-profile clients.
