How can a System Administrator configure a custom object's security model to allow specific access levels?

In configuring a custom object's security model, it is essential to manage access levels to ensure that users can perform their roles effectively without compromising data security. The correct answer provides a comprehensive approach to achieving this.

Setting the Organization-Wide Defaults for the custom object to Public Read Write allows all users in the organization to view and edit records of that object. This base setting creates a permissive environment. Then, assigning the Product Development Profile permissions for Read, Create, and Edit enables users with this profile to fully interact with the object, aligning with their responsibilities likely associated with product management and development.

Furthermore, giving the Executives Profile Read Only permissions ensures that executives can access the data necessary for oversight and decision-making without the ability to alter it. This segregation of access levels is crucial because it helps maintain the integrity of sensitive data while still keeping it accessible for review by higher management.

Overall, this approach creates a balanced security model where specific teams have the permissions they need to perform their duties effectively, while higher-ups can view the information without risk of unauthorized changes.