Final answer:
The Deming Prize is an award that recognizes outstanding achievements in quality management. It is named after Dr. W. Edwards Deming and focuses on total quality management, not just statistical quality control. It is not limited to Japanese companies.
Step-by-step explanation:
The Deming Prize is an award that recognizes organizations for their outstanding achievements in quality management. It is named after Dr. W. Edwards Deming, an American statistician who contributed greatly to the field of quality management. Therefore, statement A is incorrect as it is named after an American quality guru, not German.
The Deming Prize is actually broader in scope than the Baldrige Award, as it focuses on both statistical quality control and total quality management. Statement B is incorrect as the Deming Prize is not narrower in scope.
While the Deming Prize does emphasize the importance of statistical quality control, it also recognizes the holistic approach to quality management. This includes leadership, product and service development, customer satisfaction, and continuous improvement. Statement C is partially correct, as statistical quality control is one of the areas of focus, but it is not the sole focus of the Deming Prize.
The Deming Prize is not limited to Japanese companies only. It is open to any organization, regardless of nationality or industry. Therefore, statement D is incorrect.