What does the ITIL principle 'Focus on value' emphasize?

The principle of 'Focus on value' emphasizes the necessity of designing and delivering services that are based on the value they provide to customers and stakeholders. This principle centers on understanding and prioritizing what is valuable to customers, ensuring that service management practices are aligned to deliver maximum benefit. By focusing on value, organizations can ensure that their efforts are directed towards initiatives that enhance customer satisfaction and meet the needs of the business.

Designing services around the value they create encourages a customer-centric approach, where feedback is considered and integrated into service development. This ultimately leads to more effective and relevant services, fostering better relationships with customers and stakeholders. The alignment of services with customer expectations creates a direct impact on the overall success of the organization.