Services Flashcards
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.
Value
The perceived benefits, usefulness and importance of something. Value is subjective based on customers, perceptions and business outcomes.
Outcome
A result for a stakeholder enabled by one or more outputs
Cost
The amount of money spent on a specific activity or resource.
Risk
A possible event that could cause harm or loss or make it more difficult to achieve objectives.
Utility
The functionality offered by a product or service to meet particular need fit for purpose
Warranty
Assurance that a product or service will meet agreed requirements fit for use
Product
A configuration of an organisations resources designed to offer value for a consumer. Can be used by one or more service offerings.
Resource
Something you own or have access to
Service Offering
A formal description of one or more services, designed to address the needs of a target consumer group.
Goods
Something that is transferred from the supplier to the consumer, so the consumer takes ownership.
Access to resources
Something that is granted or licensed to the consumer under specific terms and conditions, but ownership remains with the provider.
Service Actions
Actions performed by the provider to support the needs for the consumer.
Service Management
A set of specialised organisational capabilities for enabling value for customers in the form of services.
