The service value system is a model that describes how all the components and activities of an organization work together as a system to enable value creation. The service value system consists of five elements: governance, service value chain, practices, guiding principles, and continual improvement. Governance is the means by which an organization is directed and controlled. It ensures that the organization’s strategy, policies, and objectives are aligned with the value proposition and the stakeholder needs. Service value chain is a set of interconnected activities that an organization performs to deliver a valuable product or service to its consumers and to facilitate value realization. Practices are sets of organizational resources designed for performing work or accomplishing an objective. Practices include processes, roles, tools, techniques, and methods that enable the organization to carry out its work effectively and efficiently. The other two elements of the service value system are guiding principles and continual improvement, which are not part of the answer options. References:

The ITIL 4 Service Value System Explained - ITSM.tools

Service Value System in ITIL 4 Explained | Sprintzeal