Recall the definition of

Question 1

Service

Answer 1

Service: a means of enabling value co-creation by facilitating outcomes that customers want to achieve, without the customer having to manage specific costs and risks

Question 2

 Utility

Answer 2

the functionality offered by a product or service to meet a particular need

Question 3

 Service management

Answer 3

Service management: a set of specialized organizational capabilities for enabling value for customers in the form of services. An organization would need to understand the nature of value, stakeholders and how create can be created through services

Question 4

 Warranty

Answer 4

the assurance that a product or service will meet agreed requirements

Question 5

Customer

Answer 5

A person who defines the requirements for a service and takes responsibility for the outcomes of service consumption; e.g., the IT Manager.

Question 6

User

Answer 6

A person who uses services; e.g. the company employees.

Question 7

Sponsor

Answer 7

A person who authorizes budget for service consumption; e.g., the Finance Manager.