ITIL 4 Foundations Exam Solution Guide (2022 updated) 1. PESTLE (list): Political Economic Social Technological Legal Environmental 2. 4 dimensions of service management: organizations & people information & technology partners & suppliers value streams & processes 3. components of the service value system: inputs: -opportunity -demand components: -7 guiding principles -governance -service value chain -34 ITIL practices -continual improvement output: -value 4. service value chain activities list: plan engage design & transition obtain or build deliver & support improve 5. value stream: a series of steps that an organization uses to create and deliver products/services to a consumer 6. ITIL activities: -represent the steps an organization takes in the creation of value -each activity contributes to the value chain by transforming specific inputs into outputs 7. ITIL practice (definition): a set of organizational resources designed for per- forming work or accomplishing an objective (e.g. service desk)

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