Itil V3 Service Strategy Fundamentals

Front 1

What is the first step in determining service strategy?

Back 1

understanding competitors and their products

Front 2

What two benefits does adding value to a product provide?

Back 2

provides differentiated value to a customer; no longer subject to competitive forces

Front 3

What 3 non-financial factors influence value?

Back 3

customer perceptions, reference value of services, economic value of services

Front 4

What are 3 guidelines for uncovering key business outcomes that add value for a customer?

Back 4

look from the customer's perspective; recognize that value can be provided at different levels; understand the positive effect that customers perceive a service to have

Front 5

What are the 2 main types of assets?

Back 5

resources and capabilities

Front 6

What are resources?

Back 6

direct inputs into production or service delivery

Front 7

What are 4 examples of resources?

Back 7

information, infrastructure, applications, and financial capital

Front 8

What are capabilities?

Back 8

components that make up an organization's ability to use and transform resources in a way that adds value

Front 9

What are 4 examples of capabilities?

Back 9

organization; process; knowledge; and management

Front 10

Which are harder to acquire: resources or capabilities?

Back 10

capabilities

Front 11

What are 5 advantages of service automation?

Back 11

adjusting capability to demand, handling capacity with fewer restrictions, providing a basis for measuring and improving service processes, enabling complex processes, and providing a means for capturing knowledge

Front 12

What are 4 guidelines for service automation?

Back 12

simplify service processes before automation, clarify the needed flow of activities, minimize users' contact with underlying processes, and exercise caution when automating complex tasks and interactions

Front 13

What is the goal of service strategy?

Back 13

superior performance versus competing alternatives

Front 14

What are the 4 main activities in Service Strategy?

Back 14

define the market, develop offerings, develop strategic assets, and prepare for execution

Front 15

What three activities are contained in developing offerings?

Back 15

identify market space, define services based on customer outcomes, build and use service portfolio

Front 16

What are 4 guidelines for defining the market?

Back 16

develop services for strategies and strategies for services, understand the customer, understand service opportunities, and classify and visualize services

Front 17

What does it mean to develop services for strategies?

Back 17

differentiate services from alternatives

Front 18

What does it mean to develop strategies for services?

Back 18

offer services as part of a comprehensive strategies

Front 19

What does it mean to understand service opportunities?

Back 19

tag services and assets with the customer outcomes they facilitate, then look for outcomes that are not well-supported

Front 20

What are the two types of services?

Back 20

service archetypes and customer assets

Front 21

What are service archetypes?

Back 21

defining how service providers act on behalf of customers to create value

Front 22

What is the importance of customer assets?

Back 22

they form the context for value, since they are linked to desired outcomes

Front 23

What does BRM stand for?

Back 23

Business Relationship Managers

Front 24

What is a CMS?

Back 24

Configuration Management System

Front 25

What is a CMS used for?

Back 25

mapping customer outcomes to services and assets

Front 26

What does an IT organization do during the "develop offerings" step?

Back 26

decides which services to offer customers

Front 27

What does an IT organization do during the "develop offerings" step?

Back 27

decides which services to offer customers

Front 28

What are 3 techniques for developing offerings?

Back 28

identify the market space, define value of developing services based on their outcomes for customers, and using a Service Portfolio

Front 29

What is a market space?

Back 29

all opportunities that a service provider could exploit to meet the business needs of customers

Front 30

What are 3 benefits of defining the customers' market space?

Back 30

build customer loyalty, clearly define service improvements, and ensure services are placed in context

Front 31

What are 3 benefits of defining the customers' market space?

Back 31

build customer loyalty, clearly define service improvements, and ensure services are placed in context

Front 32

What is a service model?

Back 32

the blueprint of the structure and dynamics of a service

Front 33

What are the 4 steps in defining the value of a service?

Back 33

identifying the customer outcomes it supports, determining what constraints the service overcomes for customers, determining service utility and warranty, and determining risks and costs associated with the service

Front 34

What are the 3 components of a service portfolio?

Back 34

service pipeline, service catalog, and retired services

Front 35

What is Service Portfolio Management (SPM)?

Back 35

maximizing service value while managing risks and costs

Front 36

What is an LOS?

Back 36

Line of Service: a clustering of Service Catalog items based on common patterns of business activity (PBA)

Front 37

What is a value network?

Back 37

complex set of relationships between two or more groups or organizations

Front 38

What are 5 reasons why IT should develop Service Management as a strategic asset?

Back 38

grows into a trusted asset, encourages customers to perceive benefits in a continued relationship, encourages contract renewal, results in a higher return on assets, and encourages investment in value capture

Front 39

What are 9 functions for strategic Service Management?

Back 39

develop and maintain service assets; understand the performance potential of customer assets; map service assets to customer assets through services; design, develop, and operate suitable services; extract service potential from service assets; converts service potential into performance potential; convert demand from customer assets into workload for customer assets; reduce risks for the customer; and control the cost of providing services

Front 40

What 3 ways can organizations develop Service Management as a strategic asset?

Back 40

define the value network in which it operates, increase its service potential, and increase services' performance potential

Front 41

How should assets in a Configuration Management System be tagged?

Back 41

with the services they add service potential to

Front 42

What are the 10 steps in executing a service strategy?

Back 42

perform a strategic assessment, set objectives, align service assets with customer assets, define Critical Success Factors (CSF's), conduct a competitive analysis, prioritize investments, explore business potential, align strategies with customer needs, expand into adjacent market spaces, and provide distinctive value in market spaces