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ITIL 4 Drive Stakeholder Value > Module 2: Explore > Flashcards

Module 2: Explore Flashcards

1
Q

What are 5 key questions to ask when assessing INTERNAL STRENGTHS AND WEAKNESSES during a SWOT analysis?

A
  1. Is the strength/weakness within key strategic areas?
  2. Are the required resources available?
  3. Is there enough capacity?
  4. Do the right people possess the right mix and levels of competencies?
  5. Does the organization have experience with similar services?
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2
Q

Steps in the customer journey

The ____ step is where both parties (the service consumer and the service provider) explore their own needs as well as market opportunities for fulfilling them.

A

Explore

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3
Q

From a service consumer perspective, it is crucial to understand the needs of the service consumer and other stakeholders before a service is requested. This decision should be based on a good understanding of the _____ and how _____ is created in the service provider organization.

A

opportunities, value

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4
Q

From a service provider perspective, it is important to understand _____ in order to provide the correct service; its services facilitate value for an organization only when their value is perceived to be higher than the cost and risk of obtaining those services.

A

Customer needs

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5
Q

The human mind has a natural bias for judging or deciding something too soon, resulting in unwarranted conclusions, also known as _____. When problems are complex, this is counterproductive.

A

Guesswork

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6
Q

What are five reasons that may contribute to guesswork being applied when obtaining or providing services, resulting in unwarranted conclusions?

A
  1. Technology focus (Tech is too new)
  2. Overconfidence (Organizations think they already understand the need, and do not ask what customers value)
  3. Acting before checking (Example: not enough information about relevant legal requirements0
  4. Lack of time and resources
  5. Failing to consider costs and risks
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7
Q

Before a service consumer is able to completely understand and articulate its need for service, it’s _____ and any influencing _____ and _____ must be understood.

A

Purpose, internal factors, external factors

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8
Q

Before a serivce consumer is able to complete understand and articulate its needs for service, the organization’s ____ must be understood.

The golden circle (see attached image), helps an organization to discovery and focus on understanding its _____ by asking what, how, and why.

A

Purpose

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10
Q

Understanding an organization means understanding its _____ and _____. Every organization should have _____ and a _____for achieving it. A good _____ will motivate employees, affect how work is done, and provide direction for all service-related questions.

A

Understanding an organization means understanding its purpose and vision. Every organization should have purpose and a strategy for achieving it. A good purpose will motivate employees, affect how work is done, and provide direction for all service-related questions.

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11
Q

What does this describe?

  • It’s required in order to understand how service value is created for an organization and its stakeholders
  • It identifies important stakeholders and their needs
    • It helps to understand the context of an organization that includes markets, customers, and other stakeholders
A

Stakeholder analysis

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12
Q

A _____ analysis is a strategic tool that provides input for the organization’s strategy and direction, as well as for internal policies and procedures.

A

PESTLE

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13
Q

Which of the following are NOT covered with a PESTLE analysis?

  1. Political
  2. International
  3. Economic
  4. Sociological
  5. Market Pressure
  6. Technological
  7. Legal
  8. Environmental
A

2, 5

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14
Q

A PESTLE analysis helps service consumers identify _____ and _____.

A

Opportunities, constraints

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15
Q

During a stakeholder analysis, using the PESTLE technique: understanding the external factors allows the organization to better leverage _____ and mitigate _____.

A

Opportunities, threats

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16
Q

A PESTLE analysis provides input for the organization’s _____ and _____, and well as for internal _____ and _____.

A

A PESTLE analysis provides input for the organization’s strategy and direction, and well as for internal policies and procedures.

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17
Q

When doing a stakeholder analysis, a balanced approach that can be used to understand internal factors is the _____ .

A

four dimensions of service management

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18
Q

During a stakeholder analysis, a SWOT analysis helps to assess the _____ strenths and weaknesses, and the _____ opportunities and threats.

A

Internal, external

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19
Q

What are the three points that summarize the purpose of the explore step?

A
  1. Facilitate outcome and experience
  2. Optimize risk and compliance
  3. Optimeize resources and minimize cost
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20
Q

One of the purpose considerations of the explore step is to facilitate outcome and experience. Match the consideration to either the service consumer or service provider.

  1. To develop the right services for the right customers
  2. To prioritize the most beneficial service
  3. To completely understand their own needs and constraints and to be able to articulate them
  4. For internal _____, the ‘market’ means the organization they serve
  5. To gain enough knowledge about the market to be able to establish and promote services
  6. To identify the most suitable service providers and services, as well as the associated benefits, costs, and risks
A
  1. Provider
  2. Consumer
  3. Consumer
  4. Provider/s
  5. Provider
  6. Consumer
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21
Q

Before obtaining or providing a service, it is important to encusre there there is enough _____ and _____ of the _____ for the service.

A

Before obtaining or providing a service, it is important to encusre there there is enough knowledge and understanding of the needs for the service.

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22
Q

There are several reasons that may result in guesswork when obtaining or providing services. Match the to the ITIL guiduing principal/s that could help address the reason.

  1. Technology focus: many projects fail when technology is implemented simply because its new.
  2. Overconfidence: Organizations think they already understand the needs of their customers, and they therefore do not ask what their customers value.
  3. Acting before checking: For example, an organization may develop a service without enough information about relevant legal requirements and need to revise its plans later.
  4. Lack of time and resources: It takes time and effort for an organization to explore and analyze needs, and requires specialized skills, compentencies, methods, and tools. These resources are often wasted on projects that are not valuable.
  5. Failing to consider costs and risks: For example, many organizations build in-house products without considering the cost of maintainance and continual improvement.

A. Progress iteratively with feedback
B. Focus on value
C. Think and work holistically
D. Progress itereratively with feedback, focus on value, collaborate and promote visibility
E. Think and work holisitically, collaborate and promote visibility

A
  1. B
  2. D
  3. C
  4. A
  5. E
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23
Q

Fill in the blanks:

A stakeholder analysis is required to understand how _____ is created for an organization and its stakeholders. Stakeholder anayles identify important stakeholders and their _____.

A

A stakeholder analysis is required to understand how service value is created for an organization and its stakeholders. Stakeholder anayles identify important stakeholders and their needs.

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24
Q

Name the five areas address in a PESTLE analysis

A
  1. Political
  2. Economic
  3. Social
  4. Technological
  5. Legal
  6. Enviromental
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25
Q

A SWOT analysis is often used to combine the results of _____ and _____ assessments to evaluation whether a service is needed and whether it should be provided _____ or not.

A

A SWOT analysis is often used to combine the results of internal and external assessments to evaluation whether a service is needed and whether it should be provided internally or not.

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26
Q

What do the steps in the attached image represent?

A

The steps of the Continual Improvement Model

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28
Q

In the Continual Improvement Model, match the each step to its definition.

  1. What is the vision?
  2. Where are we now?
  3. Where do we want to be?
  4. How do we get there?
  5. Take action
  6. Did we get there?
  7. How do we keep the momentum going?

A. Seek an understanding of the internal and external factors influencing the needs and establish a baseline for the current situation.

B. Achievements should be recognized, successes should be celebrated, and new ways of working should be reinforced.

C. Prepare and complete onboarding and start the service consumption to co-create value.

D. The “why.” Seek a good understanding of the overall purpose.

E. Track, assess, and evaluate value realization to ensure objectives are fulfilled. If not, initiate the necessary improvements.

F. Seek an understanding of the internal and external factors influencing the needs and establish a baseline for the current situation.

G. Seek an understanding of the internal and external factors influencing the needs and establish a baseline for the current situation.

A
  1. D
  2. F
  3. A
  4. G
  5. C
  6. E
  7. B
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29
Q

What are the 7 steps in the Continual Improvement Model?

A
  1. What is the vision?
  2. Where are we now?
  3. Where do we want to be?
  4. How do we get there?
  5. Take action
  6. Did we get there?
  7. How do we keep the momentum going?
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30
Q

Risk assessment is part a key part of what step in the customer journey?

A

Explore

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31
Q

Fill in the blanks. Market segmentation is important because it:

  1. Allows a service provider to target a customer with specific _____ and _____.
  2. Helps providers understand the reasons behind the _____.
  3. Enables the provider to _____ customers based on their _____ and _____, so the service provider can address them thoroughly.
A
  1. Allows a service provider to target a customer with specific needs and desires.
  2. Helps providers understand the reasons behind the decisions customers make.
  3. Enables the provider to target customers based on their needs and behavior, so the service provider can address them thoroughly.
32
Q

Select which matches: Internal or External Factors

  1. Can be explored using a PESTLE analysis
  2. Help an organization gain a common understanding of its current situation and obtain a baseline
  3. Can be explored using the four dimensions of service management
  4. Help an organization to better leverage opportunities and mitigate threats
  5. Include methods of assessment such as interviews, workshops, surveys, and questionnaires
  6. Include elements that could prevent an organization from achieving its mission, or creating value
A
  1. External
  2. Internal
  3. Internal
  4. External
  5. Internal
  6. External
33
Q

When choosing an external service provider, a _____ is often used in the decision process, combining the most important criteria and their worth.

A

Decision matrix

34
Q

When choosing an external service provider, the following may be considered to assure that a service _____ _____ applicable standards and reference architectures:

  • Scope
  • Principles
  • Requirements
  • Criteria
  • Classifications
  • Controls
  • Objects
A

Complies with

35
Q

Select the correct answers about choosing an external service provider:

  1. A service provider’s history, value proposition, or their interests are all things that should be considered when making a choice.
  2. Whether or not an internal service provider sources a service from an external service provider is dependent on the governance model.
  3. The IT department is rarely subject to free competition from external service providers.
  4. When an internal IT organization is the preferred provider of an IT-enabled service, they have the responsibility to provide a balanced portfolio of internal services.
  5. Existing relationships should not be a consideration when creating an initial shortlist of service providers.
  6. The final selection of one or more service providers will typically occur prior to the engage step.
A

1, 2, 4

36
Q

A _____ is a quantitative and qualitative assessment of a market; it explores the market size and opportunities in volume and value. This includes:

  • Various service consumer segments
  • Customer expectations and buying patterns
  • Trends and dynamics
  • Competition
  • Key players
  • Economic factors
A

Market analysis

37
Q

A market analysis explores the market _____ and opportunities in _____ and _____.

A

Size, volume, value

38
Q

What are the following key advantages of?

  • The systematic identification of emerging opportunities and threats
  • An understanding of competitive advantage(s)
  • More informed communications about customers and markets
  • A better allocation of scarce resources
A

Regular market analysis (even for interal service providers)

39
Q

_____ allows a service provider to target a customer with specific needs and desires.

A

Market segmentation

40
Q

The following are three factors that identify different _____.

  • Homogeneity or common needs within a segment
  • Distinction and uniqueness from other groups
  • Reactions, or a similar response to the market
A

Market segments

41
Q

When assessing _____ and _____, some important questions are:

  • Is the strength or weakness within key strategic areas?
  • Are the required resources available?
  • Is there enough capacity?
  • Do the right people possess the right mix and levels of competencies?
  • Does the organization have experience with similar services?
A

Internal strengths, weaknesses

42
Q

What are two main market segmentation approaches?

A
  • Characteristic-based segmentation: Based on the characteristics of the customer and area
  • Need-based segmentation: Based on customer needs
43
Q

_____-based market segmentation commonly uses categories such as Geographic, Demographic, Behavioral, and Psychographic.

A

Characteristic

44
Q

_____ segmentation can be useful as a first step, but it will not be conclusive because
there will be differences within the categories analyzed. To address their needs, the target group must be analyzed further.

A

Characteristic-based

45
Q

_____-based market segmentation is the process of segmenting the market based on the needs
of the service consumers.

A

Needs

46
Q

When doing a needs-based market segmentation, commercial service providers often analyze the existing customers currently generating the most sales. The _____ principle (the 80/20 rule) can help to identify the 20 per cent of the service consumers who generate 80 per cent of the sales.

A

Pareto

47
Q

Methods for Identifying and Analyzing Service Consumers

_____ _____, (for example cognitive technologies, such as machine learning) is an approach the can be used to identify and analyze service consumers based on historical market data and service consumer data.

A

Predictive analytics

48
Q

Select the correct answer - either characteristic- or needs-based market segmentation

  1. It describes the process of segmenting service consumers by attributes that include their attitudes and behavior.
  2. It can be useful as a first step but should not be treated as conclusive.
  3. It describes the process of segmenting service consumers by their requirements.
  4. It may involve using the 80/20 rule to help identify those service consumers who generate the most sales.
  5. It might include segmenting customers geographically by region or area.
  6. It may require an intensive investigation, meaning that each service provider should focus on only a few market segments.
A
  1. Characteristic
  2. Characteristic
  3. Needs
  4. Needs
  5. Characteristic
  6. Needs
49
Q

Select the correct answer - either characteristic- or needs-based market segmentation

  1. It describes the process of segmenting service consumers by attributes that include their attitudes and behavior.
  2. It can be useful as a first step but should not be treated as conclusive.
  3. It describes the process of segmenting service consumers by their requirements.
  4. It may involve using the 80/20 rule to help identify those service consumers who generate the most sales.
  5. It might include segmenting customers geographically by region or area.
  6. It may require an intensive investigation, meaning that each service provider should focus on only a few market segments.
A
  1. Characteristic
  2. Characteristic
  3. Needs
  4. Needs
  5. Characteristic
  6. Needs
50
Q

When doing a needs-based market segmentation, commercial service providers often analyze the existing customers currently generating the most sales. The _____ principle (the 80/20 rule) can help to identify the 20 per cent of the service consumers who generate 80 per cent of the sales.

A

Pareto

51
Q

_____-based market segmentation is the process of segmenting the market based on the needs
of the service consumers.

A

Needs

52
Q

_____ segmentation can be useful as a first step, but it will not be conclusive because
there will be differences within the categories analyzed. To address their needs, the target group must be analyzed further.

A

Characteristic-based

53
Q

_____-based market segmentation commonly uses categories such as Geographic, Demographic, Behavioral, and Psychographic.

A

Characteristic

54
Q

Describe the Pareto principle

A

A principle stating that 20% or of service consumers generate 80% of sales

55
Q

What are the 5 steps in a needs-based market segmentation?

A
  1. Use Pareto principle (80/20) rule to identify customers who generate most sales
  2. Explore customer satisfact, including why customers buy certain products, and if/how the services fulfill their needs
  3. Perform an internal SWOT analysis
  4. Caegorize into different market segments
  5. Prioritize the segments base on SWOT results
56
Q

Identifying and Analyzing Service Consumers

Exploring service consumer needs is an ongoing task, but it is equally important to track the
_____ of existing service consumers.

A

Exploring service consumer needs is an ongoing task, but it is equally important to track the
changing needs of existing service consumers.

57
Q

The _____ is used to track, evaluate, and prioritize the market and service consumer needs for services and products.

A

The service provider portfolio is used to track, evaluate, and prioritize the market and service consumer needs for services and products.

58
Q

To build a brand and attract target customers, internal and external service providers should
invest in marketing.

A

To build a brand and attract target customers, internal and external service providers should
invest in marketing.

59
Q

A _____ is:

  • An explicit promise made by a service provider to its customers that it will deliver a particular bundle of benefits.
  • A statement that clearly identifies what benefits a service consumer will receive from a particular service offering.
A

Value proposition

60
Q

What are 3 things a value proposition should concisely tells customers?

A
  1. HOW the product/service can solve their problems
  2. WHAT they can expect if they obtain a product or service
  3. The ADVANTAGES of doing business with the company OVER ITS COMPETITORS
61
Q

True or false?

A value proposition should be tailored to targeted customers.

A

True

62
Q

Define profiling

A

A method of tracking service consumer behavior to understand consumers’ needs and enable targeted marketing campaigns

63
Q

The _____ is the physical world, as opposed to the _____, which is defined by all the possible channels made available on the internet.

A

Marketplace, marketspace

64
Q

_____ is a method of tracking service consumer behavior to understand consumers’ needs and to enable targeted marketing campaigns. With an accumulation of personal information about customers and users, it is important to protect the privacy of individuals by asking for consent.

A

Profiling

65
Q

_____ is about knowing what range of service offerings the customer is most likely to want to obtain and presenting those specific offers to the customer. Many countries have strictly regulated privacy legislation, but with consent, the service provider can add value for its customers and users through the marketspace.

A

Personalizing

66
Q

Marketing campaigns work best when the service provider _____ the _____ to a specific group of people and their needs and desires. To do this effectively, specific user profiles (personas) must be used. This will allow the service provider to write a personal message to potential customers that addresses their true needs.

To do this effectively, techniques such as AIDA (which stands for ____, _____, _____, _____) can be used to help.

A

Tailors, message
Awareness, Interest, Desire, and Action

67
Q

Match each AIDA technique step to its stage.

  1. Awareness
  2. Interest
  3. Desire
  4. Action

A. Affective
B. Cognitive
C. Behavior

A
  1. B
  2. A
  3. A
  4. C
68
Q

A _____ is a combination of someone’s perception of an organization and its products and services in the market.

A

Brand

69
Q

Define brand

A

Combination of someone’s perception of an organization and its products and services in the market. It is built iteratively, and reflected in the way people speak about the organization.

70
Q

_____ can be defined as “the development that meets the needs of the present generations without compromising the ability of the future generations to meet their own needs”

A

Sustainability

71
Q

To address sustainability, organizations often adopt the triple bottom line (TBL) approach (Elkington, 1994). This is an accounting framework that covers _____, _____, and _____ aspects.

A

Financial, social, environmental

72
Q

Keeping existing customers happy is important for attracting new customers. The three main reasons for this are …

A
  • Cost: New customers are more difficult, time-consuming, and expensive to reach than existing customers
  • Resale: Happy customers are more likely to obtain new services
  • Brand: Happy customers may recommend services to other consumers
73
Q

Select the correct answers

  1. The marketspace is the physical world, while the marketplace refers to possible channels made available on the internet.
  2. Personalization is a method of tracking service consumer behavior to understand consumers’ needs and enable targeted marketing campaigns.
  3. It is important to protect the privacy of individuals by asking for consent when accumulating personal information about customers and users.
  4. Tools like the AIDA model can help to raise customers’ awareness of an offer, stimulate interest and desire, and trigger actions.
  5. A brand reflects public perception of an organization’s products and services in the market, not the organization as a whole.
  6. Sustainable goals are important for future generations but should not come at the expense of the financial bottom line.
  7. Cost provides a good incentive to keep existing customers happy because new customers are more difficult, time-consuming, and expensive to obtain.
A

3, 4, 7

ITIL 4 Drive Stakeholder Value (9 decks)

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