Developing Strategic Assets - ITIL Service Strategy

In order to get a head start in life, one has to know the talent that they can peddle for success. A person might be a gifted writer, or a young woman might shine the most in dancing, whatever gift that they might possess, it is but a natural inclination to develop it as part of a person's drive towards maturity and growth.

This comparison can also be applied in the world of the ITIL Service Strategy. As part of the ITIL framework, Service Strategy is a key aspect of developing and keeping the processes and service applications in top shape.

Developing these physical assets and services provided by the service provider is one way of ensuring a successful service delivery.


What is a strategic Asset?

A strategic asset in a Service Strategy can be identified as the physical assets, products and services contained in a service lifecycle. Developing these strategic assets to their maximum capacities can only spell success for the company and the service provider.

It only seems rational for service providers to prioritize the managing and development of services and physical assets of their services, as their progress and development is connected with the progress of the client's company.

When a client is notified that a service provider delivers trusted products, and manages to be a reliable partner, this would only boost the interest of a prospective investor. That is why it is necessary to maintain a level of quality and commitment towards joint projects, as this can lead to a more clients in the future.


Developing strategic assets

Some stakeholders might go into a service agreement with a service provider that has low value contracts, but as time passes and both parties have gotten a better handle on their service needs, the service rendered will only continue to improve.

This progress would only encourage a client to renew their partnership and at this stage, it would only be logical for the service provider to invest and develop their prized services and products by employing more specialized workforce and instill applications that can enhance their services.


Deliver value capture

As much as possible, stakeholders invest in a service provider that has a transparent and trusted service history. A great service provider is measured by the efficiency of its value creation versus its value capture. It would be an ideal scenario if the services created, taking into account the cost and efforts it took to produce, can be equal, if not essentially beneficial to the company for its users and overall business organization.


Service management as a strategic asset

In order to handle and develop service management as a strategic asset, it is necessary to view and identify the value network of the service provider in conjunction with their service operation with their customers.

By having an idea of what these key assets are in their relationship, it would be easier to classify which are more significant than the other. Identifying the intricate service assets would help the service provider in monitoring them more closely and effectively.

Although the conditions around the business may not always be perfect, and change is almost inevitable, service assets are expected to be constant and stable.

It is important for service management to have great control over the relationship between customer assets and service assets.