Define the Concept of 'Mass Customisation' and Provide Several Relevant

question 126

Essay

Define the concept of 'mass customisation' and provide several relevant examples.Briefly discuss how technology is vital to the success of mass customisation efforts.

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Definitions:

Retained Earnings

The segment of net profits that are not distributed as dividends, instead kept within the company for reinvestment in its main operations or for debt repayment.

Current Asset

A slightly different term for assets likely to be used or turned into cash within one fiscal year or operating cycle, emphasizing liquidity.

Land

An asset representing the earth's surface that a company owns, used for operations, development, or investment.

Liquidity

The ease with which an asset can be converted into cash without significantly affecting its price, reflecting a company's ability to meet short-term obligations.