Module 4 Flashcards
*What is the service value system? [4.a]
It describes how all components & activities of an organisation unite as a system to enable value creation. Interfaces with other organisations & forms an ecosystem that facilitates value for other organisations, their customers & other stakeholders
*What are the key inputs to the SVS? [4.a]
Opportunity & demand
*What are opportunities [4.a]
Options/possibilities to add value for stakeholders or otherwise improve the organisation
*What is demand? [4.a]
The need/desire for products & services among internal & external customers
*What is the outcome of the SVS? [4.a]
Value
*What are the 5 elements of the SVS? [4.a]
Guiding principles, governance, service value chain, practices & continual improvement
*What are guiding principles? [4.a]
Recommendations that can guide an organisation in all circumstances, regardless of changes in its goals, strategies, type of work or management structure. They are universal & enduring
*What is governance? [4.a]
The means by which an organisation is directed & controlled
*How does governance work? [4.a]
Evaluate - Direct = Monitor (EDM)
Evaluate: Governing body evaluates current organisation state, strategy, portfolios, policies & relationships
Direct: Policies & strategies established & modified
Monitor: Governing body monitors compliance & performance of new policies & strategies
*What is the service value chain? [4.a]
A set of interconnected activities that an organisation performs to deliver a valuable product/service to its consumers & facilitate value realisation
*What are practices? [4.a]
Sets of organisational resources designed for performing work or accomplishing an objective
*What is continual improvement? [4.a]
A recurring organisational activity performed at all levels to ensure an organisation’s performance continually meets stakeholders’ expectations
What are organisational silos?
Structures that separate employees into individual groups, so they don’t communicate or collaborate, change is slow and visibility limited
