Service Value System
One of the objectives on the ITIL 4 exam is to describe the service value system. So for the exam, you need to make sure you understand what the service value system is and the components that make up this service value system.
The service value system or the SVS, is going to describe how all of the components and activities of your organization work together as a system to enable value co-creation. Now, these components and activities are all tied together within the organizations resources and they can be configured and reconfigured in multiple different combinations in this flexible way based on the circumstances. Now this is going to require some integration and coordination of all of the different activities and practices and teams within the organization as well as different authorities and responsibilities for this to truly be effective. Some organizations are much more flexible than others while some are very tight and stringent in their ways. Depending on your organization and its culture, you are going to be able to utilize this system in a very rigid or very flexible manner. It would all really depend on your organization and how you implement the system. Now the purpose of the service value system is to ensure that your organization is continually co-creating value with all of your stakeholders through the use and management of the products and services that you have. SVS is made up of three basic blocks. On the left side is opportunity and demand, that is considered the input. On the right side, is the output and that is value. In the middle you have the service value chain. Around that service value chain you also have governance, which is the way the organization is run, and the thirty four different practices in ITIL 4 Plus the guiding principles and continual improvement.