Key concepts of creating value with services Flashcards
1
Q
Cost
A
the amount of money spent on a specific activity or resource
2
Q
Value
A
The perceived benefits, usefulness and importance of something
3
Q
Orgnization
A
A person or group of people that has its own functions with responsibilities, authorities and relationships to achieve its objectives
4
Q
Outcome
A
what the customer actually wants to achieve, a result enabled by 1 or more outputs
5
Q
Output
A
a tangible or intangible deliverable of an activity
6
Q
Risk
A
a possible event causing difficulties, or uncertainty of outcome
7
Q
Utility
A
What the service does (Fitness for purpose)
8
Q
Warranty
A
How well the service does it (fitness for use)
