Service value system
A service value system (SVS) is a model representing how all the components and activities of an organization work together to facilitate value co-creation.
Definitions
According to the ITIL Foundation 4e by Axelos,
- Service value system (SVS). A model representing how all the components and activities of an organization work together to facilitate value creation.
● What is the Service Value System? o The ITIL service value system *SVS) describes how all the components and activities of the organization work together as a system to enable value creation. ▪ These components and activities, together with the organization's resources, can be configured and reconfigured in multiple combinations in a flexible way as circumstances change, but this requires the integration and coordination of activities, practices, teams, authorities and responsibilities to be truly effective. o The purpose of the SVS is to ensure that the organization continually co-creates value with all stakeholders through the use and management of products and services. ● Inputs of the SVS o Opportunities represent options or possibilities to add vale for stakeholders or otherwise improve the organization. o Demand is the need or desire for products and services among internal and external consumers. ● Outcome of the SVS o The outcome of the SVS is value. The SVS can enable the creation of many different types of value for a wide group of stakeholders. ● Components of the SVS o The guiding principles are recommendations that can guide an organization in all circumstances, regardless of changes in its goals, strategies, type of work, or management structure. o Governance is the means by which an organization is directed and controlled. o The service value chain is a set of interconnected activities that an organization performs in order to deliver a valuable product or service to its consumers and to facilitate value realization. o The ITIL practices are sets of organizational resources designed for performing work or accomplishing an objective. ▪ Resources are people, processes, documentation, information assets, technologies, supplier contracts, etc. o Continual improvement is a recurring organizational activity performed at all levels to ensure that organization's performance continually meets stakeholders' expectations. ● Addressing the Challenge of Silos o The ITIL SVS has been specifically architected to enable flexibility and discourage siloed working.