Lesson 03: Value co-creation

Everyone talks about value these days, but they usually don’t make it clear what it is and how it should be managed. ITIL, on the other hand, is more serious about it! Let’s start talking about the concept of value in ITIL.

Based on AXELOS ITIL^® material. Reproduced under licence from AXELOS. All rights reserved.

It’s time to review the lesson:

• We usually say that value is relative, which means that it depends on who it is for. Give an example of something digital and something non-digital that’s very valuable to you, but doesn’t have much value for many people.
• Some people think of value in very simplistic ways; i.e., that one entity creates it and gives it to another entity, and that it’s the whole story. ITIL doesn’t consider value like that. What’s the special phrase they use to emphasize it, and how can it be explained?
• What’s “unexpected value”? Do you have any personal examples?

The following are the definitions we’ve had in this lesson:

• Value
• Service value
• Co-creation
• Service offering