Terms and Definitions Flashcards
Means of enabling value co-creation by facilitating outcomes that customers want to achieve, without the customer having to manage specific costs and risks
Services
A configuration of an organization’s resources designed to offer value for a customer
Product
Formal description of one or more services, designed to address the needs of a target consumer group
Service Offering
A cooperation between a service provider and a service consumer
Service Relationship
Activities performed by an organization to provide services
Service Provision
Activities performed by an organization to consume services
Service Consumption
Joint activities performed by a service provider and service consumer to ensure continual value co-creation based on agreed and available service offerings
Service Relationship Management
A tangible or intangible deliverable of an activity
Output
A result for a stakeholder enabled by one or more outputs
Outcome
Amount of money spent on a specific activity or resource
Cost
A possible event that could cause harm or loss, or make it more difficult to achieve objectives
Risk
Functionality offered by a product or service to meet a particular need
Utility
Assurance that a product or service will meet the agreed requirements
Warranty
