For the following statements, circle "T" for true and "F" for false: 

1. Competitiveness means how effectively an organization meets the wants and needs of customers relative to others that offer similar goods or services. 

2. Operations Managers spend less time on system operation decisions than any other decision area. 

3. A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins, and input costs amongst others. (2.5 marks) 

4. A supply chain is a sequence of activities and organizations involved in producing and delivering a good or service. ip of Graduate Studies (DGS) T 

5. The goal of the product and service design is to not only design a product or service that customers want but to do so at a low cost, with high-quality materials or services, and in a time frame that keeps a company competitive.