What do all components and activities of the organization work together to co-create according to ITIL 4?

According to ITIL 4, all components and activities within an organization are designed to work together to co-create value for stakeholders. Value in ITIL is defined as the perceived benefits, usefulness, and importance of a service or product. This holistic perspective emphasizes that value is not solely derived from the service itself but also from the relationships between providers and consumers, as well as the context in which services are utilized.

By focusing on value co-creation, ITIL encourages organizations to engage with their customers and understand their needs and expectations, thus building services that not only meet requirements but also enhance experiences and satisfaction. This approach aligns the entire service value system towards achieving meaningful outcomes and fostering collaborative relationships, which is essential for sustained success in service management.