ITIL V4 questions with correct answers

Service management is defined as - Answer as a set of specialized organizational capabilities for enabling value to customers in the form of services. Value is the - Answer perceived benefits, usefulness and importance of something. Providers and Consumers Co-Create Value - Answer o Organizations who deliver services are - Answer referred to as service providers. Those to whom services are delivered are - Answer referred to as service consumers. o An organization is a - Answer person or a group of people that has its own functions with responsibilities, authorities and relationships to achieve its objectives Customer - Answer ▪ A person who defines requirements for services and takes responsibility for outcomes from service consumption User - Answer ▪ A person who uses services Sponsor - Answer ▪ A person who authorizes the bud