Correct Answer - Option 3 : 1, 2 and 4 only
Explanation:
Deming’s system of profound knowledge is a management philosophy and consist of four parts which are inter-related and help to analyze the Quality parameters of the organization :
1. Appreciation of a system – Understanding the overall processes involving suppliers, producers, and customers of goods and services and activities in one part will result in consequences in the other part as well. The reduced variation is a parameter to measure the quality.
2. Knowledge of variation – The range and causes of variation in quality and use of statistical sampling in measurements.
3. Theory of knowledge – Concepts explaining knowledge and the limits of what can be known.
4. Knowledge of psychology – Concepts of human nature to understand the interaction between the work system and people.
Hence the correct statements are 1, 2 and 4.